UNITED WESTERN BANK-Rights Issue

polyester staple fibre was merged with JCT. Thecompany manufactures nylon, polyester filament yarn, dyed yarn, cotton textile products, and produces steel wire and tape. The company closed the financial year ended March 1995 with net sales of Rs 656 crore, up by 70 per cent against Rs 368 crore last year. Other income fell from Rs 29 crore to Rs 10 crore. Total income rose by 58 per cent from Rs 420 crore to Rs 664 crore. Interest costs rose by 211 per cent. Provision for depreciation and tax rose appreciably, leaving the company with a net profit of Rs 65 crore, up by 75 per cent from Rs 37 crore achieved in the previous year. A dividend of 20 per cent has been recommended.