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

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ICICI-Profits Up

is Rs 1.48 crore (Rs 1.22 crore). The directors have raised dividend from 18 per cent to 20 per cent, which is covered 2.17 times by earnings as against two times previously. The formalities in connection with collaboration with STAL refrigeration of Sweden for manufacture of shell and tube condenser, shell and tube chiller, package chilling unit, condensing unit, etc, are being completed and manufacturing is expected to be initiated during the current year. Price increase for steel, single largest raw material for the company's operations, has been as much as 20 per cent to 24 per cent for certain categories. The management has initiated action to counteract the effect of these price increases to the extent possible.

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