TEXMACO-Widening Product Range

TEXMACO Widening Product Range TEXMACO has shown a small improvement in its working during 1987. Gross profit has increased from previous year's Rs 26 lakh to Rs 119 lakh following rise in turnover from Rs 75.07 crore to Rs 95.07 crore. The entire profit has been set aside towards provision for depreciation. Unprovided depreciation up to 1987 amounts to Rs 17.32 crore, including Rs 7.08 crore for the year. Further, depreciation on increased amount due to revaluation has not been adjusted from revaluation reserve amounting to Rs 170 lakh including Rs 87 lakh for the year. The directors say that working results would have been substantially better but for the prolonged and massive power cuts at the cement plant in Andhra Pradesh and gross under-utilisation of capacity in the textile machinery division due to continuing sick slate of the textile industry. The overall performance of the engineering division was satisfactory and that of the rolling stock division was once again the best in the industry. There was a mark ed improvement in production and sales in the steel structural division. The boiler and pressure vessel division maintained production and achieved significantly better sales.