ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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LIC-Bonus to Policyholders

details leading to absorption of latest technology and upgradation of quality. After passing through difficult times for several years, the company's chemicals division turned the corner with sales reaching a new peak. Though development work on 2.6 diethyl aniline was completed, it could not be implemented due to government's fiscal policy A few speciality chemicals for which processes have been developed will go into production in the near future, The company has performed well during 1989. It has earned a gross profit of Rs 9.78 crore against Rs 5.67 crore in the previous year following sales of Rs 117 crore against Rs 104 crore. These figures also show a marked rise in profit marginsWith depreciation claiming Rs 9.13 crore (including 2.33 crore in respect of preceding year) against Rs 2.95 crore, however, net profit is only Rs 65 lakh compared to Rs 227 lakh of 1987-88. A substantial part of the unchanged dividend of 20 per cent is thus short earned. The profit figures have been arrived at after writing off an amount of about Rs 7 lakh spent on the computer software project and Rs 90 lakh being the outstanding loan and investment in Mafatlal Zinser Engineering Company. The company's earnings in foreign exchange amounted to Rs 21.77 crore and value of imports and other expenditure in foreign currency Rs 4.12 crore.

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