Banaras Beads

The company has reported a 88 per cent growth in sales turnover to Rs 50.05 crore, and a modest 10 per cent rise in net profit to Rs 6.15 crore, for the year ended March 1996. Being a pioneer in the glass beads industry, it achieved an export of Rs 9.41 crore in glass beads, a growth of 19.5 per cent over the previous year. In the case of carpets, the company suffered a setback with strong competition from Pakistan, China, Nepal and Iran. As a result, exports of carpets and druggets declined by 43.4 per cent to Rs 5.49 crore. During the year under review, the company exported gold and silver-studded jewellery worth Rs 5.54 crore. It also exported certain assorted items valued at Rs 27.27 crore. The company