ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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NOCIL-Hit by Fall in Prices

EPW Research Foundation LLOYDS STEEL Competition from Imports LLOYDS STEEL INDUSTRIES, the flagship company of the Lloyds group, saw a mixed performance in 1996-97. While net sales and value of production improved significantly by 28.7 per cent and 16.9 per cent, respectively, the company's operating profit fell by 19.6 per cent. An increase in input costs such as power, coal, petroleum and freight led to a steep rise in operating expenses. Adding to the company's woes was the fact that these increases could not be passed on to the consumers because of lower market demand, increase in domestic production and alleged dumping by the East European countries. Competition from imports was heightened by reduction in import duties on hot rolled coils, particularly at a time when international steel prices were ruling at low levels.

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