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

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Statement by the Chairman Mr AMM Arunachalam

YOUR Company's overall performance in 1977 is better than of the previous year. The major prominent factor con-tributing to this improvement is the performance of the Tubes Unit. The Directors have explained the actions leading to this improvement, despite the operating losses of the Bicycle Unit. They have also mentioned why Bicycle Unit has made losses once ain in 1977, though lower than pre-vious two years and reported separately at length the unfortunate incidents at the bicycle factory on 11th January 1978 culminating in the suspension of operations of that fac-tory.

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