He said the sales turnover was Rs 782 crore when he took over in 1995-96. Now it has almost doubled. The company, however, could not achieve the internal target of Rs 1,800 crore set for last year. Motial said the net worth of the company, which had been eroded bysuccessive years of losses during the last few years, would turn positive. After recording a profit of Rs 15.26 crore during 1997-98, the net worth was in the negative side to the tune of Rs 5 crore. The company, which was once on the verge of being referred to the Board for Industrial & Financial Reconstruction was now on the path of earning a mini-ratna status.

He said all the units of the company had made tremendous progress and the company had orders worth Rs 800 crore in the new financial year. He said the company would enter new business in the information technology area, especially with the merging of computer and telecommunications. The business plan for the purpose would roll out in a month's time. The company also aimed at providing a turnkey solution for the national backbone proposed to be set up by the Department of Telecommunications.

ITI's bid had received the L1 status with the other competitor being IBM. The business to be earned was in the range of Rs 40 crore to Rs 45 crore.