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

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Joy Ride

January 18, 1969 duced chlorine. It is claimed that the methyl bromide plant is making products conforming to international standards. Sales increased from Rs 10.45 crores to Rs 11.16 crores but, with gains in production eroded by increased costs, gross profit could look up from Rs 2.57 crores to Rs 2.65 crores. With the addition of non-recurring items, these figures are inflated to Rs 2.86 crores (Rs 2.64 crores), A sum of Rs 21 lakhs added to the 1967-68 accounts represents excise duty on kiln gas for previous years not payable under Supreme Court judgment. And Rs 7 lakhs added in the previous year accounted for assets sold out. Net profit is thus Rs 1.26 crores (Rs 1.12 crores) which covers the unchanged dividend of 17 per cent well over twice. In addition, there is a gift of equity shares in the proportion 3:10. These new shares will rank for dividend from the current year. With a view to meeting the additional requirements of finance, shareholders' approval is being sought for authority to issue debentures upto Rs 2 crores, as and when necessary. The company's application for the fertiliser project submitted over a year ago is still under consideration of Government.

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