ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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COATES OF INDIA-Turning to Exports

the electrolytic tinplate plant remaining idle for five months during the year because of government restrictions on imports. However, with 31,800 tonnes of tinplate produced, the company was still the largest producer of tinplate in the country. The company took the initiative to convert tinplate into fabricated cans and to supply them to end users, securing the advantage of value addition. The hot dip plant achieved a record production of 1,25,000 tonnes. There was an accretion in inventories however, due primarily to an increase in stock of electrolytic tinplate from 2,362 tonnes to 3,424 tonnes and in vahie from Rs 310 lakh to Rs 1,149 lakh. But receivables also recorded a decline from Rs 3,681 lakh to Rs 2,703 lakh. As profits improved, the dividend was raised, while the return on equity as well as earnings per share also increased. TISCO's investment in Tinplate's share capital is roughly one-third at Rs 3.05 crore KIRLOSKAR CUMMINS Pinch of Reform The directors' report of Kirloskar Cummins for the year 1991-92 mentions the government's structural reforms in the economy and the World Bank conditiona- lities as having resulted in reduction of developmental activities with the demand from the power, coal and construction sectors stagnating. Against this background, the report adds, the performance of Kirloskar Cummins was satisfactory. J T Dewing, representing Cummins Engine Company, US, who succeeded Arun Kirloskar as chairman at the annual general meeting of the company in Pune on August 7, said the market for the company's products had become highly competitive with the two major original equipment manufacturers, Bharat Earth Movers and Hindustan Motors, in collaboration with Komatsu and CAT, having introduced their products in the market. Moreover, under the liberalised trade policy, customers have increased choices of imported engines. The transporters' strike and the securities scam also affected demand, particularly since the latter development impacted the lending institutions and delayed customers' securing loan finance.

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