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

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Tough Battle

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GWALIOR RAYON's gross profit during the year to March 1968 declined 9 per cent to Rs 7.23 crores notwithstanding a 12 per cent advance in sales at Rs 43.50 crores. Net profit is Rs 2.71 crores (Rs 3.26 crores). Dividend increased by a point to 17.5 per cent, however, is still covered 1.8 times. In addition, a bonus issue is proposed to be made on a one-for-ten basis. Additional special excise duty of 20 paise per kg on staple fibre and rise in costs are said to be responsible for shrinkage of margins. There were labour strikes in the staple fibre and pulp divisions, but production of both units was higher. Staple fibre output was 51.07 million kg (43.32 million kg) and rayon grade pulp 58,115 tonnes (52,842 tonnes). The company has undertaken a programme of eucalyptus plantation in Nilambur district of Kerala State to ensure regular supply of raw material as a long term measure. Another rayon grade pulp factory and a staple fibre unit with capacities of 100 tonnes per day each are proposed to be established in Mysore State. The company holds a letter of intent and is awaiting import licence for capital goods for installation of caustic soda /chlorine and dicalcium phosphate plants at Nagda with a capacity of 33,000 tonnes each of caustic soda and dicalcium phosphate per annum. A plant to manufacture chlorine dioxide is also proposed to be installed.

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