TITAN INDUSTRIES-New Areas

reduced its warranty cost to around Rs 240 per tractor, the lowest in the industry.
TITAN INDUSTRIES New Areas Jointly promoted by Questar Investments, with Tata Sons, a Tata group company and the Tamil Nadu Industrial Development Corporation in 1987-88, Titan Industries commenced commercial manufacturing at its Hosur unit in 1989. Sales turnover for the year ended March 1996 stood at Rs 323 crore, up by 26 per cent from Rs 257 crore in the previous year. Other income was down by 18 per cent. Interest costs were up by 57 per cent. Provision for depreciation was up by 20 per cent. In the face of a zero tax provision the company closed the year with a net profit of Rs 28 crore, up by 10 per cent from Rs 25 crore in the previous year. Dividend payment has been stepped up from 30 per cent to 33 per cent. The company produced 3.77 million watches and 1.98 million cases. Production would have been higher but for an industrial dispute during wage negotiations at the company's Hosur plant.