ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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operations. This is brought out also by total remuneration to employees which, though already relatively low at Rs 2.5 crore in 1991-92, has declined to Rs 1.3 crore, taking the percentage of wages to gross value added from 12.4 to 2.6. Interest charges increased from Rs 1.8 crore to Rs 2.7 crore. The company has maintained dividend at 25 per cent, though on equity capital which has more than doubled on account of the conversion of debentures. That the P/E ratio has fallen drastically to 5.0 is evidence enough of the erratic nature of the company's performance.

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