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

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Poised to Enter New Areas

political costs of continued involvement in the Afghan problem. The Chinese have in any case lowered their vigil as far as Soviet 'hegemonism' is concerned, generally all over the world but also in Afghanistan.

Japanese Technology for Tyres

Japanese Technology for Tyres Hansavivek DUNLOP INDIA has produced vastly improved results for 1985, although it had to contend with an environment of continued surplus production capacity in most of its product lines. Better market and product mix, coupled with a tight control over expenditure helped the company to achieve these results. Sales increased from Rs 226.88 crore to Rs 271.98 crore and, with margins doubled, gross profit leapt from Rs 7.71 crore to Rs 18.55 crore. Although depreciation claimed much more and there was also a modest tax liability against nil, net profit leapt from Rs 1.99 crore to Rs 8,84 crore. Dividend has been stepped up by 5 points to 15 per cent, which is covered 3.06 times by earnings as against a mere 1.02 times previously.

Enlarged Product-Mix to the Rescue

such as oppression and exploitation are the staple of the historical process which determines the destiny of man. The specificity of biology is the only additional element to differentiate the dialectics of the second sex. However much you and I may rail, there is no escape from the tyranny of this specificity; while each other element of exploitation can be tackled on the plane of human endeavour, this one cannot be. That the Second Sex is so described is an accident of culture, itself the outcome of the historical process; with very little bending of effort, it can be redesignated as the Other Sex. But the physical attributes of the sexes will not be altered thereby, mounting tantrums against Nature are for the present nonproductive inducements, whether progress in bio-physics and the molecular sciences will, in the course of the next couple of thousand years, make a breakthrough can only be speculated upon. For Simone de Beauvoir, as life reached its denouement, it was thus a kind of double tragedy, Read her adieu to Sartre, never mind the foundation of existential faith, the companion had been rendered into the wife. It is a magnificent story of an immutable fidelity, but it is also a magnificent negation of the belief which, through intellection, she had arrived at and had dug herself in. In the process, she also exposed the precarious basis of her sexual philosophy, You can render the Second Sex into the Other Sex, but whether you can travel beyond the semantic detour is hardly an issue of philosophical assertion waiting to be transformed, through active combat, into an empirical reality; that will depend upon the forces of nature, much beyond the force of circumstances shaping the hurlyburly of existential living. In the placement of history, Simone de Beauvoir will at most be a footnote to Jean-Paul Sartre. One can hardly conceive a greater affront to the Second Sex, but there it is.

Wide Ranging Diversification

Wide Ranging Diversification Hansavivek SHRIRAM FIBRES is expanding and diversifying its activities. It proposes to invest substantial amounts in its existing units at Manali and Viralimalai, both in Tamil Nadu. Apart from modernisation, this would also result in addition to capacity by balancing of equipment. The company has planned to instal facilities at the Manali plant for producing polyester industrial yarn, for which a letter of intent has been secured. Meanwhile, SRF Nippondenso's.plant at Surajpur in UP is about to go on stream and will start supplying automotive electricals to automobile manufacturers like DCM Toyota,

New Opportunities from Liberalisation

proceeded along a leisurely fashion. Along with the state government, the Government of India and the Reserve Bank of India were impugned as interested parties; neither of them appeared to be particularly interested; affidavits and counter-affidavits were called for; but who does not know that the judiciary in our country is terribly overworked, the injunction thus continued for six and a half long years. The Janata Party inter- regum too was in the meantime over at the Centre. Perhaps the company's political connections were revived, perhaps its patrons scaled even higher pinnacles of power and glory in New Delhi. Irrespective of whether the injunction was vacated or not, the Government of India could have so amended the laws of the land as to put a restraint on the company's operations; the Board of Directors of the Reserve Bank of India too could have, if they had only so chosen, read the inspection report submitted to the Bank's Department of Non-Banking Operations and acted thereon. This is however the land of Buddha the Enlightened; the Government of India and the Reserve Bank decided not to see any evil, not to hear any evil, not to speak any evil. The company's business has expanded .twelve to thirteen times since September 1979; lapsations of policies and forfeitures of premia paid in must have also increased according to scale. How does it matter, it is only illiterate adivasis and peasants and factory workers and members of the lower middle class who got jilted; true, they must have lost hundreds and hundreds of crones of rupees thanks to the majesty of the High Court's stay order; so what, look at the brighter side of things, the agents and sub-agents, and the 'influential people' to whom they are related, never had it so good; you cannot dispute that this too is redistribution of income

Sharing in Automobile Boom

Sharing in Automobile Boom Hansavivek MRFhas been able to register higher sales and profits during the year ended September 1985 in spite of intense competition in the market. The directors attribute this outcome to improved brand preference of the company's products. Sales amounted to Rs 162.82 crore against Rs 146.11 crore in the previous year and gross profit expanded from Rs 4.30 crore to Rs 6.97 crore, reflecting appreciable increase in profit margins. Although both depreciation and tax liability claimed more, net profit advanced from Rs 1.49 crore to Rs 2.49 crore. To commemorate the silver jubilee year, dividend has been stepped up from 15 per cent to 25 per cent which is covered 2.53 times by earnings as against 2.57 times previously. Exports were also higher at Rs 10.06 crore against Rs 8.33 crore. The company's exports cover worldwide markets including developed countries like US, Canada, USSR, UK, etc. The company has been awarded 'Capexil' special award for export excellence. The current year holds out promise of fur ther improvement in the company's performance. Production for the first four months has been Rs 91 crore as against Rs 65 crore for the corresponding period of the past year and sales have been Rs 80 crore against Rs 60 crore. The directors feel confident that profits during the current year will be "as encouraging as that of last year!' The Central government has revalidated collaboration agreement with B F Goodrich Company, USA, for a further period of five years. For the third year in succession, the company has been awarded The B F Goodrich International Quality Improvement Award' for outstanding achievements in quality management in competition with 20 other tyre plants worldwide. K M Mammen, a director since 1981, has been appointed as a wholetime director of the company with effect from June 1, 1985.

Worse Than Expected

side the open court, but Jogen Babu knew, a half-wink of a drooping eyelid, the flicker of a smile on the tired old face, those were the only trace of acknowledgement on his part that the young British magistrate had crossed the Rubicon, that he belonged to them. Carritt was aware that Jogen Babu knew, and Jogen Babu was aware that the magistrate knew that he knew. It was a silent, unspoken conspiracy, and there is a certain magnificence in the way Carritt describes it. You recognise your comrades for what they are, your comrades recognise you for what you are, yet there would be a barrier of silence, a barrier of caution, a barrier of circumspection. Comrades, this is war, and we must not let our enemies know; each of us, in our own manner, would serve the cause, the contentment ties in serving the cause; for some of us the circumstances are a little more trying than they are for some others, but, comrades, we are in it together, for it is the cause, it is what fulfilment as human beings means to you and me.

Taking Advantage of Liberalisation

Taking Advantage of Liberalisation Hansavivek NIRLON SYNTHETIC FIBRES AND CHEMICALS intends to set up in UP a large petro-chemical project for manufacture of one lakh tonnes each of propylene and butadiene and 60,000 tonnes of polypropylene per annum. This is a capital intensive project requiring a huge outlay of funds. The company has applied for an industrial licence and the matter is being discussed with the government. Meanwhile, the company has signed an agreement with Karnataka State Industrial Investment Corporation for setting up a plant in the joint sector for the manufacture of nylon-6 yarn with an installed capacity of 6,000 tonnes per annum. The Central government has recently granted permission to increase capacity to 12,000 tonnes per annum. The facility of broad-banding of synthetic yarn will also be applicable to the project, which will be implemented by a new company. The government has approved Nirlon's proposal to manufacture annually 100 tonnes of high performance carbon fibre and issued a letter of intent and also permitted it to obtain foreign technical and engineering knowhow.

A Beginning in Employees Stock Option

is, this realisation that you have the power to make or break the economy; the rich, let there be no fooling, will now make the economy in their own image.

Expansion Projects Blocked

March 1, 1986 deeds to the truly aristocratic ones, who, since the days Plato said so, constitute the natural leaders?
The Nehrus and their like got the bequest. But appearance had to be kept up. The khadi had to be spun finer and finer; to give it up altogether would have been regarded as a sacrilege. The well-meaning cliches which constituted the portmanteau of policies and programmes of the Indian National Congress could not be scuttled just like that. The totems and the taboos, both, had to be outwardly conformed to. Socialism and the public sector had to be provided pride of place in the administrative directives. Mahatma Gandhi, quietly and obligingly, had passed on the inheritance, but it had to be handled with care, a sudden rush of blood would not do. The rich and the affluent would of course inherit India, but, to begin with, there must be no ostentation; hasten slowly.

Diversification to Cope with Demand Recession

Diversification to Cope with Demand Recession Hansavivek HINDUSTAN DEVELOPMENT CORPORATION (HDC) is further expanding and diversifying its activities. It has got a letter of intent for setting up a composite steel plant at Malanpur in Bhind district of MP with a capacity of 1.25 lakh tonnes per annum. The company has finalised an area of 100 acres of land in consultation with the state government for establishing the project. Technical consultants to the project have been selected and some of the quotations for major plant and equipment have also been received. Meanwhile, the company is seeking approval of the government for setting up a galvalume steel sheet project with a capacity of one lakh tonnes per annum, for which foreign collaboration has been already tied up. The company has also applied for setting up a cynauric chloride project with a capacity of 1,650 tonnes per annum at the existing site at Cyanides and Chemicals at Olpad in Sural district of Gujarat. To finance these projects and for other financial requirements, the company has planned to raise Rs 125 crore by issue of debentures. Accordingly, borrowing powers of the board are proposed to be raised to Rs 250 crore.

Modernising Steel Technology

February 15, 1986 nine won't go, said our old sums master. Ideologues, or at least those who love to pass as such, have not agreed, and have continued to indulge in an impossible arithmetic Once you begin to adjust your corners on the assumption that the policy of immediacy is the best policy, you head for trouble; Your compromises convince others, including those who look up to you for guidance and inspiration, that everything has a price, including principles and morals. At that juncture, cynicism takes over.


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