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

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Getting Ready for Competition

Getting Ready for Competition Hansavivek MAHINDRA AND MAHINDRA has shown good results for 1983-84 with higher production, sales and profits. Turnover amounted to Rs 368.33 crone against Rs 314.01 crore in the previous year and gross profit increased fom Rs 22.63 crore to Rs 26.91 crore, reflecting a modest improvement in margins. These results have been obtained despite pressure on costs. Net profit is Rs 14.59 crore (Rs 13.52 crore). Dividend is lowered by two points to 18 per cent, but is payable on the capital enlarged by the bonus issue. The increased quantum of distribution is still covered 4.23 times as against 5.85 times previously. The company produced 32,788 vehicles against 32,077 in the previous year and sold 32,607 against 32,201, even though exports to Iran dropped from 2,976 to 1,829. Sales of spare parts inclusive of petrol and diesel engines rose to Rs 16.30 crore from Rs 13.78 crore. The Igatpuri plant produced Peugeot diesel engine model XDP 4.90 with progressively higher deletions. The International Tractor division fared very well with record production and sales of tractors. The number of tractors produced increased from 11,901 to 15,900 and the number sold from 12,507 to 15,754. The company increased its market share from 17.3 per cent to 19.7 per cent. Sales of spare parts, kits, attachments and implements were Rs 9.64 crore against Rs 8.14 crore. Total foreign exchange earnings from export of vehicles fully built-up and completely knocked down, tractors, spare parts, merchant and deemed exports amounted to Rs 20.84 crore. The instrumentation division's sales of instruments and spares amounted to Rs 1.46 crore against Rs 1.44 crore. The division executed an order for 15 sets of hydraulic regulators, manufactured under the new collaboration agreement with Comp-Air Industrial, UK. The division has concluded selling agency agreements for a range of new instrumentation products manufactured by Pyrosystems, Madras, and Controls and Automation (India), Hyderabad.

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