NEW DELHI-Development without Crutches

ful marketing of Additional products, resulted in larger profits. Net sales advanced by 63 per cent, to top the Rs four- crore mark, and in line gross profit was up 61 per cent at Rs 1.18 crores. The unchanged equity dividend of nine per cent, the whole of which is exempt from tax, found a sixfold cover. Reserves have exceeded the share capital. The directors, therefore, propose to issue bonus shares in the ratio of two new shares for every five equity shares held by shareholders.