HERO HONDA-Expansion Programme

EPW Research Foundation TELCO Out of Recession TATA ENGINEERING AND LOCO- MOTIVE COMPANY (TELCO) has done well for the year 1993-94 with the automobile industry now coming out of recession. The company has increased its sales by 31 per cent, its operating profits have gone up by 38 percent and its net profits have jumped by a whopping 238 per cent. Sales started to pick up only by the third quarter of the year. The company has declared a dividend of 40 per cent for the year as compared to 30 percent for the previous year. The company's debt-equity ratio has gone up from 87 per cent to 144 per cent.