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

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Judicious Blend

Judicious Blend Hansavivek ZENITH, formerly Zenith Steel Pipes and Industries, proposes to maintain its growth through a judicious blend of diversification and rapid expansion of its activities. It expects to receive shortly a letter of intent for manufacture of seamless steel pipes at Khopoli in Maharashtra, aimed at import substitution for the expanding needs of oil, gas and automobile industries. Meanwhile, a letter of intent for producing oil field chemicals, also being imported, has already been received. The company's application for a fully integrated steel plant is still pending with the government awaiting certain policy decisions. Bearing in mind the current state of the cement industry and taking into consideration the "proceed with caution" advice from the financial institutions, the management is re-evaluating the cement project vis-a-vis other opportunities. The company has fared well during 1985-86 with turnover rising from previous year's Rs 124.99 crore to Rs 136 crore and gross profit from Rs 5.60 crore to Rs 6,23 crore. These figures also show a small increase in profit margins. Net profit is Rs 4.02 crore (Rs 3.56 crore). Dividend has been stepped up from 25 per cent to 30 per cent and is covered 1.75 times by earnings as against 2.60 times previously.

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