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HOCL's sales go up by 16 pc

Hindustan Organic Chemicals Ltd has registered higher quantums of production and sales during the first quarter (April-June) for the year 1999-2000, as compared to the corresponding period of last year.

The total production during the first quarter improved by 7 per cent to 56,030 mt, as compared to 52,214 mt, while sales went up by 16 per cent to 45,221 mt. Capacity utilisation increased by four per cent over the corresponding period of last year.

HOCL has set for itself higher production and sales target for the year 1999-2000. A Memorandum of Understanding to this effect has already been signed between the company and the department of chemicals and petrochemicals.

Its focus during the year will be on consolidation of gains. Further improvement in capacity utilisation, consumption norms, energy efficiency, sales realisation, sourcing of cheaper raw materials, retiring of high cost debts, inventory management and human resource management, will be the thrust areas. The continued focus on such activities, in addition to the emphasis on asset management, maximisation of plant utilisation and optimisation of human resources and research development as profit centre are expected to yield better results during 1999-2000 as compared to a saving of about Rs 800 million in expenditure achieved in the financial year 1998-99, according to an HOCL release.

UNI

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