According to a press release issued here on Friday, sale of scooters fell by 7.8 per cent from 1,50,036 units to 1,38,337 while production slumped to 1,45,016 from 1,54,336 vehicles in 1997-98. Production and sales during the year under review could not be maintained at the levels of the previous year "due to lacklustre market conditions which prevailed in the scooter industry during a major portion of the year." The market in the current year has also not shown any particular buoyancy so far.

The board of directors has recommended a dividend of Rs 2 per share on the enhanced capital arising out of the 1:1 bonus issue in 1997-98.