In the last quarter of 1998-99, the medium and heavy commercial vehicle production registered a 20 per cent growth. The growth in sales was compounded by various cost management initiatives which also helped enhancing the profit after tax to Rs 5.11 crore from Rs 1.42 crore for the previous period.

Gross profit after interest befor depreciation and tax was higher at Rs 26.44 crore during the financial year 1998-99 as compared to the annualised Rs 20.07 crore in the corresponding previous year, registering a growth of 31 per cent. This was despite a marginal growth in sales. The profit after tax grew by 39 per cent forthe same period.

During 1998-99 SCL Brakes Division has maintained the annualised sales of 1997-98 at Rs 144 crore. The commercial vehicle production declined by 18 per cent during the same period.

The foundry division supplied 4,389 mt of aluminium castings during the financial year 1998-99, marking an increase in sales of 22 per cent over the same period by getting orders from MNCs like Hyundai and Delphi. The new foundry which commenced operations at Hosur was set up at an investment of Rs 12 crore met out of internal accruals.

The SCL Brakes division became the fourth company outside Japan and the first company to win the prestigious Deming prize awarded by the Japanese Union of Scientists and Engineers.