Consistently Upward

Consistently Upward Hansavivek TATA' CHEMICALS has once again, for the 15th consecutive year, pro- duced a higher profit before tax although the alkali industry in the country has been facing a difficult period. The increase this time is marginal but this has been arrived at after providing Rs 44 lakhs for depreciation in the newly set up shipping division. What makes the performance all the more creditable is that it has been achieved on a lower gross income following reduced selling prices and also after providing Rs 30 lakhs more for interest Production of soda ash, the main product, at 3,25,748 tonnes was nearly 5.8 per cent higher than that of the previous year, although earlier in the year rains and outages at the steam power plant had restricted output. With increased tax liability, net profit is lower at Rs 3.57 crores (Rs 4.23 crores) and the unchanged dividend of 17 per cent, is covered 1.9 times against 2.16 times previously. In the last 15 years, the company has spent nearly Rs 46 crores on expanding and modernising its plant at Mithapur which, by next year will be among the largest in the world. All the additions and replacements, other than a part of the steam, power plant, were designed, engineered, fabricated and erected entirely by its own experts. Furthermore, the capital cost incurred on them was half of what it would have been if purchased from outside sources whether in India or abroad, and they have throughout