Poonawalla, who addressed shareholders at the company's annual general meeting (AGM) here on Thursday, said the company will focus on exports. Exports are expected to contribute Rs 30 crore to the turnover for the current year, company managing director Satish Tandon said. The countries targeted for exports include Nigeria, Tanzania, the Far East and Sweden, he added.

Alfa Laval, which had posted a 26 per cent rise in turnover to Rs 173 crore during 1997-98, as compared with Rs 139 crore in the previous year. Net profit stood at Rs 3.23 crore, against a Rs 29.69 crore loss in the previous year. The company has declared a dividend of Re 1 per share.

Alfa Laval's wholly-owned subsidiary, Alfa Laval Financial Services Ltd registered anoperating income of Rs 4.1 crore in 1997-98, as compared with Rs 3.74 crore in the previous year. Provision for non-performing assets amounted to Rs 3.97 crore, resulting in a net loss of Rs 4.26 crore.

Accumulated losses for 1997-98 stood at Rs 4.67 crore. However, this investment is seen as a long term strategic one and considering the future prospects, has not been provided for.