Emphasis on New Technology

Emphasis on New Technology Hansavivek SIEMENS INDIA has fared well during 1976-77, in spite of difficult market conditions. Sales have risen from Rs 73.28 crores to Rs 76.13 crores, and gross profit has increased from Rs 9.30 crores to Rs 10.11 crores, reflecting slightly enhanced margins. Improvement in profit has been possible partly because the interest burden was lower by Rs 52 lakhs compared to the previous year. This gain, however, has been more than neutralised by higher tax liability, and profit after tax has turned out to be, lower than in the previous year. The directors have nevertheless repeated 16 per cent payment on the capital as enlarged by a one-for-two bonus issue, with the result that dividend cover has thinned down to around 2.1 times as against 3.9 times previously. Ten per cent of the dividend is exempt from tax in the hands of the shareholders. Orders hooked during the year exceeded Rs 77 crores which was about six per cent ahead of the previous year, Pending orders stood at Rs 46,60 crores as against Rs 45.50 crores a year ago. The company's debt/equity ratio improved to balance sheet depicted the financial