ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Sound Financial Base

Sound Financial Base Hansavivek LARSEN AND TOUBRO has achieved further fair growth during 1980-81 in spite of the inflationary and cost push situation obtaining in the country. This has been made possible by higher capacity utilisation, improvement in systems and methods of production, greater efficiency and cost control. The chairman, N M Desai, is confident that the company will not only make further headway in its development in the coming years but will also maintain its progressive role in Indian Industry. In his annual statement to the shareholders, he says: "Our business is on a strong footing with a sound financial base. Our expansion projects are under implementation and scheduled to go on stream during 1983. The growth of our operations enables us to finance a substantial portion of our project costs from internal funds. We are continuing to look for new investment opportunities." Meanwhile, the company has reported good progress on various fronts. Civil construction work for the cement project commenced in November last and is progressing well, Some of the equipment has arrived at the site and erection is to commence shortly. The plant is scheduled to go on stream by February 1983. The company has installed a horizontal floor- type, numerically controlled 2-spindle deep-hole drilling machine capable of drilling up to 700 mm depth at a cost of about Rs 94 lakh. With this sophisticated machine, the company is ideally equipped to manufacture high pressure heat exchangers and feed water heaters. A wire cut machine incorporating computer controls is being added to the tool room. This will enhance the company's capabilities to produce high quality tools. The company has executed orders for some critical equipment such as the deck plate for a 100 MW research reactor of Bhabha Atomic Research Centre, spray-type deaerators for a thermal power station in colla boration with STORK of Netherlands, and aluminium columns for concentrated nitric acid plant made from 99.95 per cent purity aluminium.

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