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Seven new companies carved out of the erstwhile Ordnance Factory Board (OFB) have shown a significant turnaround, posting healthy profits after tax three years after corporatisation. Defence minister Rajnath Singh directed the companies to focus on research and development to meet future demand, resulting in profits of ₹1,549 crore, expected to grow by over 15% this year. The corporatisation process, overseen by Singh, successfully transformed the previously loss-making entities into profitable ventures with growing order books, marking a substantial shift from their past financial performance.
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