CHEMPLAST SANMAR-Corporate Restructuring

BHARAT FORGE New Plants BHARAT FORGE, the largest forging company in Asia, saw a mixed performance during 1996-97. While the company's net sales and value of production improved by 19.1 per cent and 19.4 per cent, respectively, its bottomline fell drastically by 69.1 per cent over the previous year. This despite the operating profit improving by 19.4 per cent during the same period. The main culprit responsible for the company's poor performance was the Rs 38,3 crore octroi duty which the company had disputed earlier. This was accounted for following the Supreme Court's rejection of the company's review petition during the year under review.