SM DYECHEM-Import Substitution

KIRLOSKAR OIL ENGINES New Ventures KIRLOSKAR OIL ENGINES (KOEL), the largest bimetal bearings manufacturer in the country, registered a 40 per cent jump in operating profit in 1992-93 on a 32 per cent higher turnover as compared to the previous year. A sharp increase in interest and depreciation charges was offset by decline in tax provision and consequently net profit was also higher by 40 per cent. Despite the subdued performance of the diesel engine industry in 1992-93, the company managed to improve its performance through emphasis on quality products as also by consolidating its share in the agricultural and power generation markets. The company's exports registered a growth of 94 per cent in rupee terms through its efforts for integrating its activities in diesd engines and bimetal bearings with the global markets through the co-operation with their leading manufacturers.