IN THE FAST LANE - SWARAJ ENGINES LTD

Article Abstract:

Swaraj Engines Limited (SEL) is promoted by Punjab government. The state government and Kirloskar together hold a stake of 50.5 percent, mutual funds and financial institutions hold 3.6 percent and balance of 45.90 percent is with the public. SEL supplies tractor engines to Punjab Tractors Ltd (of which SEL is a sister company) and provides job work on connecting rods for Swaraj Mazda (light commercial vehicle). The capacity of the facilities have been increased to 33,000 connecting rods per annum and 42,000 tractor engines per annum at a capital outlay of Rs50 crore. SEL supplied 17,475 engines during April-December 1998. It has posted a sales 49 percent growth in sales to Rs86.51 crore for the nine months ended December 31, 1998. It has posted a 41 percent increase in net profit to Rs10.45 crore for the nine months ended December 31, 1998. It has an equity base of Rs4.14 crore. (rk)(m)

Asset sales & divestitures, Engine, Turbine, and Power Transmission Equipment Manufacturing, Engines & Turbines, Kirloskar Group, Swaraj Engines Ltd

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BICYCLE GAME: SWADESHI VS CLOSURE

Article Abstract:

The Bombay High Court has given an ad interim stay order against the closure of National Bicycle Corporation of India Ltd and has ordered the Central government to file an affidavit on whether it will support the revival of the company. The company has two units at Ghaziabad and Mumbai and employs about 700 personnel. The company was declared sick and came under the purview of the Board of Industrial and Financial Reconstruction in 1992. The previous government had refused to support a revival scheme sanctioned by the Appellate Authority for Industrial and Financial Restructuring in 1997-98. (khr)

Comment:

Bombay High Court has given ad interim stay order against closure of co

Government regulation (cont), Motorcycle, Bicycle, and Parts Manufacturing, Bicycles, Article, National Bicycle Corporation of India Ltd.

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