WALCHAND INDUSTRIES-R and D Pays

WALCHAND INDUSTRIES R and D Pays WALCHANDNAGAR INDUSTRIES has turned corner with a modest profit for the year ended September 1988 after suffering losses during two previous years. With these losses, the company's working capital position had become precarious, adversely affecting its regular working. The management decided to sell the company's machine tool division at Chin- chwad to Premier Automobiles. This brought in the required funds not only to regularise the accounts with the bankers and the financial institutions, but also to augment the working capital resources for the lucrative industrial machinery division. Increased production has restored tfoe confidence of customers and the division has also been able to get suitable advances from customers against the orders thus received.. The new chairman, Bahubali Gulabchand says that the current year's operations hold a good promise for a further improvement in the profitability of the company.