Poysha Industrial Company

DESPITE A year of rising prices and devaluation, Poysha Industrial Company, manufacturers of sanitary opentop cans, made a profit before taxation of Rs 29.72 lakhs, and after paying tax of Rs 18.21 lakhs was still left with Rs 11.51 lakhs—Rs 4.54 lakhs more than in the previous year. The Chairman, M R Ruia, claimed at the ninth Annual General Meeting that this was the consequence of more efficient management, more rationalized production including stricter control of raw materials and wastage, and better personnel relations. There is also a sizeable expansion programme on hand. Factories at Thana and Ghaziabad are near completion. Full production at Thana will begin before the beginning of next year and at Ghaziabad in the last quarter of this year. At Cochin production should start before the end of this year. The factory at An and too has been properly equipped. The Sewri factory will also continue in operation. There is even a scheme for a firstclass central laboratory and research department.

Some interesting points emerge from the Chairman's speech. One is that in the price of an average open top can the cost of raw materials accounts for 80 per cent. Most of this is the cost of the tinplate. We import all our requirements of tin and also sizeable quantites of tinplate. In 1968 we expect to be self sufficient in tinplate as far as its use in the can industry is concerned. Till then import restrictions and devaluation are bound to have their impact on the price of tinplate consumed and consequently on the cost structure of the can making industry.