Hindustan Development Corporation, Mahavir Spinning Mills, Vardhaman Spinning, Godrej-GE Appliances

HINDUSTAN DEVELOPMENT CORPORATION Fall in Sales THE recession in the steel industry and the unsatisfactory economic scenario in general affected the performance of Hindustan Development Corporation (HDC) drastically in 1997-98. While net sales declined by 7 per cent over the previous year, operating profit fell by 27.5 per cent over the same period. Despite a fall in interest charges (down 7.3 per cent) the company