Hinged on Public Investment

Hinged on Public Investment Hansavivek NATIONAL INSULATED CABLE COMPANY OF INDIA (NICCO) has turned in satisfactory working results for the year ended April 1985 in spite of the continued recessionary conditions in the wire and cable industry with increased pressure on margins as a result of rise in cost of inputs. Sales amounted to Rs 23.94 crore against Rs 21.45 crore in the previous year and gross profit increased from Rs 104 lakh to Rs 110 lakh. With depreciation claiming more, however, net profit has turned out to be lower at Rs 55 lakh (Rs 63 lakh). The unchanged dividend of 12.5 per cent is covered 2,08 times as against Rs 2.52 times previously. The company opted for rationalisation of product mix whereby there has been reduction in production quantities in certain areas. Products yielding reasonable margins only were produced, while production of others was either shelved or reduced. The expansion and modernisation programme, undertaken last year, was completed and has started yielding results.