Himatsingka Seide Ltd (HSL) has registered a total income of Rs 63 crore in 1997-98 against Rs 61 crore in the previous year. Despite dismal exports last year, HSL's export performance was satisfactory. The company earned a net profit of Rs 24 crore as against Rs 22 crore in the previous year.
The board recommended a dividend of 70 per cent on the equity capital of Rs 9.55 crore. The company paid 55 per cent dividend in the previous year.
HSL has set up a new 100 per cent export oriented unit for the manufacture of spun silk and blended yarn with technical know-how from Italy. This new division has commenced operation from April this year and has also started exports. The company has received its first order from Italy and Japan.
HSL has signed agreement with National Securities Depository Ltd to extend the dpeository facility for the company's shares. It has also set up two captive power plants for a total capacity of 4.4 MW at a cost of Rs 6.61 crore.
