Articles by Kumaran Pola

Better Return on Investment Kumaran Pola SPECIAL STEELS' sales turnover increased to Rs 190.90 crore during the year ended March 31, 1990 from Rs 192.23 crore during the 15-month preceding accounting year. This represented a 24 per cent rise on an annualised basis over the year. The increase was attributed to the higher output at the wire rod mill and wire division on the one hand and better sales realisation on the other. Although the company could earn a 39 per cent (annualised) increase in operating profits at Rs 27.90 crore as against Rs 25.09 crore, the increase in net profits was lower at 25 per cent (annualised) from Rs 14.96 crore to Rs 14.91 crore. This was due to higher provision for tax during 1989-90 since the tax benefits on the carry forward of the accumulated losses of the past had already been fully absorbed by March 1989.

Technology Upgradation and Modernisation hand, there was a 3 per cent reduction in the production of intermediates for dyes, pesticides, pharmaceuticals, etc Colour-Chem has revamped its selling arrangements by dispensing with the wholesale selling organisation. The company has established regional marketing offices at the major consuming centres. A network of stockists has also been built up. The company has accepted the responsibility of selling chemicals and other chemical products manufactured by Hoechst AG and its associate companies worldwide arid which are allowed to be imported into India. The equity shareholding of 16.4 per cent of Bayer AG in the company was transferred to Hoechst AG in February 1990. Hoechst AG is now the company's single largest shareholder and sole tecrmical-cum-financial collaborator.