PREMIER AUTOMOBILES-Spurt in Profits

Production of urea increased to 6.91 lakh tonnes and that of ammonia to 4.76 lakh tonnes as compared to 6.66 lakh tonnes and 4.44 lakh tonnes respectively in the preceding year. The company won two top awards from the Fertiliser Association of India for 1989-90, one each for overall performance and innovation. In view of the good monsoon throughout the country, the offtake of fertilisers substantially improved during the year. The company was able to sell 7.10 lakh tonnes of urea in 1989-90 compared to 6.31 lakh tonnes during the preceding year. The company reported substantial improvements in the formic acid and butachlor plants. The printed circuit board capacity continued to be underutilised due to inadequate demand. The wholly-owned subsidiary, Gujarat Narmada Auto, sold 33,207 scooters during the year compared to 22,417 scooters in the preceding year.