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Our Bureau

Hyderabad , June 28

WITH its networth turning positive, Vybra Automet Ltd (VAL), the city-based auto component forgings manufacturer, has made a representation seeking it to be out of Board for Industrial and Financial Reconstruction (BIFR) purview.

For the fiscal ended March 2005, the company posted a net profit of Rs 4.26 crore on a turnover of Rs 52.07 crore. In a communiqué to shareholders, its Chairman, Mr M.P. Murti, said the company has cleared the dues to SBI, APIDC and APSFC after obtaining a rebate of Rs 36.13 lakh.

According to him, the company's networth has become positive by Rs 5.64 crore. Following this, the company has requested the monitoring agency SBI to recommend removing it from the purview of BIFR.

In view of the increased demand for its products, the company has now embarked upon a modernisation and expansion programme.

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