Pact With Grove Worldwide Prop For Til

A ten-year technical collaboration with the US-based Grove Worldwide has enabled TIL to achieve the standards of global leaders in terms of technology and quality.

The company has consolidated its market leadership through the successful introduction of Little Bull, a novel articulated pick and carry crane in technical collaboration with Linmac Pty, Australia.

TIL has also entered into an agreement with the UK-based BOSS Group to manufacture and market the total range of forklift trucks.

TIL, registered an increased turnover of Rs 237.69 crore during the year ended March 31, 1997, as against Rs 195.74 crore in 1995-96.

The board of directors which met yesterday to approve the audited results for the year ended March 31, 1997, have recommended a dividend of 25 per cent for the year.

 

Gross profit before depreciation and interest for the year under review stood at Rs 21.72 crore compared to Rs 22.32 crore the previous year.

While profit before tax declined to Rs 10.77 crore from Rs 12.11 crore, profit after tax stood at Rs 6.19 crore as against Rs 5.93 crore in the last financial year.

In a bid to provide total material handling solutions, TIL has recently expanded its manufacturing facilities at Sahibabad and Kamarhatty units and entered into technical and marketing arrangements for new products with world leaders in the field of core infrastructure.