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Nitya Varadarajan
Chennai, June 12: Ucal Fuel Systems Ltd has registered higher sales of Rs 96.55 crore for 1998-99, up 7.5 per cent from Rs 89.80 crore. Profit after tax has fallen 29.23 per cent to Rs 9.61 crore, from Rs 13.58 crore in the previous year. Interest came down marginally to Rs 2.26 crore from Rs 2.37 crore. Depreciation was higher at Rs 8.24 crore for 1998-99, compared to Rs 5.74 crore in the previous year. A dividend of 30 per cent has been declared, the same as the previous year.
Ucal is going to focus on two major areas - increasing the carburettor for 4-stroke two-wheelers to a level of 1 million per year by March 2000, and introducing a new range and start serving both existing and future vehicle manufacturers for petrol injection-related products such as throttle body, pressure regulator, delivery pipe and high-pressure filters to help them achieve Euro 2 norms well before 2000.
High pressure in-tank electric fuel pumps will also form part of the product range with technological support of MitsubishiElectric Corporation, a release said.
Ucal is establishing a manufacturing facility in Gurgaon, operational before January 2000, to cater to the requirements of northern customers. The project loan has been tied up for the expansion of the two-wheeler carburettor and the new product range. The investment is Rs 35 crore, with State Bank of India sanctioning Rs 22 crore.
The comapny has a buyback arrangement with Mikuni for exports of twin-barrel carburettors.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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