The Company achieved gross sales of Rs. 205 crores in 2013-14 as against Rs. 298 crores in the previous year. The business operations of the Company were adversely affected due to slowdown in the economy, thereby affecting the capital goods sector and auto sector in which we operate.
The profit from operations before depreciation, amortization expense, interest and tax, was Rs. 93.58 crores (including a gain Rs. 58.46 crores out of compensation received from Indian Railways against compulsory acquisition of the Company's land) against Rs. 209.03 crores in the previous year. The previous year's profit included net gain of Rs. 132 crores on sale of the Company's land.
The Company's unrevalued net worth as on 31st March, 2014, is Rs. 287 crores and the total debt is Rs. 448 crores. The debt-equity ratio is 1.56:1. If the revaluation of the Company's land is considered, the net worth is Rs. 499 crores and the debt-equity ratio on this basis is 0.90:1.
During the year, the Company incurred a capital investment of Rs. 62 crores towards factory buildings, plant & machinery and product development. Most of the Company's current capital investment plans have already been completed..