The company has posted a gross profit of Rs 1.90 crore and net profit of Rs 0.70 crore respectively. It has provided Rs 0.54 crore towards depreciation and Rs 0.64 crore towards taxation.

The company's fan division has entered into an agreement with distributor and dealer network to increase sales of "Padmini" and "Zephyre" range of ceiling fans to three lakh numbers per annum in the next two years. The division has obtained "Assured Quality" certification from Central Power Research Institute and also approal from DGS&D.

The capacity expansion programme initiated with an investment of Rs 49 crore is expected to be complete and commercial production is slated in July 1999. It is proposed to expand the capacity from 2.4 million numbers, ball bearings to 6.1 million numbers per annum. Sujana Steels Ltd Sujana Steels has reported a decline in turnover to Rs36.36 crore for the year ended March 1999 as against Rs 40.12 crore recorded the same period last year.

It has posted a gross profit of Rs 2.43 crore and a net profit of Rs 0.48 crore. For the same period in the last year the gross profit stood at Rs 2.05 crore and net profit is at Rs 0.96 crore.

Its subsidiary, Padmini Steel Corporation is expected to commence trial runs by July this year. Once it goes into commercial production the unit will produce about one lakh tones of value added re-rolled steel products, said a company's release.

Tutucorin power project, in which SSL hold 26 per cent while Tracteble S.A., Belgium holds 74 per cent, is fast approaching the construction phase. The project requires few more clearances for achieving financial closure, said the release.