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Tulive Developers Chairman's Speech > Engineering - Heavy > Chairman's Speech from Tulive Developers - BSE: 505285, NSE: N.A
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Tulive Developers

BSE: 505285|ISIN: INE637D01015|SECTOR: Machine Tools
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Chairman's Speech (Tulive Developers) Year : Mar '98
Sales for the year ended 31st March, 1998 were Rs. 412.14 lakhs as
 compared to Rs. 455.54 lakhs in the previous year.  The profits before
 tax were Rs. 17.27 lakhs as against Rs. 41.09 lakhs.  The performance
 for the year could have been better but for the shortfall in orders for
 standard products due to the recession in the engineering industry. Project orders have however helped to
sustain the position.  In view of
 the lower profit, the Board of Directors has recomended a Dividend of
 Rs. 2.50 per share.
 
 For some considerable period the economic situation in the country has
 been declining.  The capital goods, engineering and automobile industries are particularly affected.  As
Kerry Jost caters to these
 industries, it has been a difficult year for the Company.  Orders have
 been slow in coming, customers are unable to take delivery because of
 their own financial situation and others have been slow in paying their
 dues.
 
 The Company is taking steps to meet this situation.  Sales efforts in
 all the product lines in which the Company operates are being intensified, a major thrust is being made to
collect outstandings, and
 an economy drive is being initiated to cover all variable expenses.  In
 addition, customers are being identified for projects where special
 skills have been developed by the Company in process engineering.  The
 ISO-9001 Qualification that was referred to last year is an additional
 feature that is benefitting the Company in negotiating these special orders.  It is expected that these
negotiations will be successful shortly and would help the Company to show improved results in the
 current year.
 
 Politicians, economists and industrialists have all realised that some
 positive steps need to be taken to revive the economy.  Should these
 intentions be implemented, this would further help to improve the prospects of the Company.  We are
optimistic that these difficult times
 would soon change.  The long-term prospects are good and better results
 should follow.
 
 We thank our employees, customers, shareholders, bankers and suppliers
 for their continued support, with which we hope to achieve better
 results in the future.
Source : Dion Global Solutions Limited
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