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

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Garden Silk Mills

Bright Prospects TRIBENI TISSUES has suffered a setback in its working during 1986. It has earned a gross profit of Rs 4.13 crore against Rs 5.31 crore in the previous year, although sales have been only marginally lower at Rs 34.11 crore against Rs 34.85 crore. Production at 14,398 tonnes was, marginally higher and sales in volume terms at 14,237 tonnes were also higher by 2 per cent compared to the previous year. The decrease in sales value was largely due to the lower offtake of cigarette paper, but this was offset to a great extent by newer products with reasonable profit margins. With lower provisions for depreciation and taxation, the gap has been narrowed and net profit is Rs 1.46 crore (Rs 1.76 crore). The directors have raised dividend by two points to 20 per cent which is slightly short-earned as against an earnings cover of 1.23 times for the previous year's distribution. The board's decision to pay more in spite of reduced earnings reflects the confidence of the management in the future prospects. According to the chairman and managing director,'N G Choudhury, in the current year there has been growth in the volume in terms of production and sales especially of MICR paper.

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