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May 10, 2000
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| Tool down strike at Bajaj Tempo's Pune plant |
| Bajaj Tempo Ltd has informed the BSE that certain employees of the company's factory situated at Bombay-Pune Road, Akurdi, have resorted to illegal tool down strike. This has resulted in stoppage of production and normal activities.
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| Essel Packaging 1999-2000 net profit up by 41% at Rs 366.40 million |
Essel Packaging Ltd has reported a net profit of Rs 366.40 million for the financial year ended March 31, 2000 as against Rs 260.60 million in FY 99. The sales are up by 36.83 % at Rs 2069.90 million. Other income is significantly higher at Rs 39.70 million (FY 99 Rs 7.60 million). The other income for the year ended March 31, 2000 included Rs 16.30 million form interest on allotment money and export incentive Rs 12.40 million. The profit for the quarter ended March 31, 2000 is Rs 82/- million, as compared to Rs 80.40 million in the previous financial year. The sales are 33.29 % up at Rs 469.30 million as against Rs 352.10 million in the quarter ending March 1999.
The company's subsidiary in Nepal has gone on stream in May, 2000 while the Joint venture in Germany had gone on stream in January, 2000. The company's Chinese subsidiary has recently bagged an order for 300 million tubes worth USD 15 million.
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| Balrampur Chini FY 2000 net profit at Rs. 230.68 million
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| Balrampur Chini Mills Ltd has announced a net profit of Rs. 230.68 million for the year ended March 31, 2000 as against Rs. 431.70 million in FY 99, a decline of 46.56%. The total income for FY 2000 is at Rs. 3957.11 million as compared to Rs. 2999.55 million in FY 99, an increase of 31.92%.
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| Textool posts net loss of Rs. 151.33 million in FY 2000
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Textool Company Ltd has reported a net loss of Rs. 151.33 million for the year ended March 31, 2000 as against a loss of Rs. 170.68 million in MQ 99. The annual sales have declined by 1.28% to Rs. 881.83 million (FY 99 Rs. 893.23 million). Other income is Rs. 42.51 million (FY 99 Rs. 28.16 million).
The company has after the close of the financial year, transferred by way of sale its Cots and Aprons/Powder Paints and Yarn Processing Divisions for a total consideration of Rs. 400 million, after obtaining the approval of the members at the Extra-Ordianary General Meeting of the company held on March 29,2000. All legal formalities are being taken to give effect to the sale transactions. The sale proceeds have been fully utilised for retiring the high cost debts of the company.
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| Torrent Pharma FY 2000 net profit up by 25.39 % at Rs. 455.80 million
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Torrent Pharmaceuticals Ltd has announced a net profit of Rs. 455.80 million for the year ended March 31, 2000 as against Rs. 363.50 million in FY 99, an increase of 25.39%. The annual sales are up by 32.49% at Rs. 4219/-million (FY 99 Rs. 3184.40 million) Other income for the year ended March 31,2000 is Rs. 141.30 million (FY99 Rs 123.60 million).
The company has written off Rs. 151.40 million as exceptional charge, against the advances made to Torrent Gujarat Biotech Ltd (TGBL) for the supply of material. The Board has considered it advisable to provide for this amount in view of TGBL being declared a sick company under the Sick Industrial Undertakings (Special Provisions) Act, 1985.
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| Graphite India FY 2000 net profit at Rs. 122.60 million
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| Graphite India Ltd has announced a net profit of Rs. 122.60 million for the year ended March 31, 2000 as against Rs. 154.70 million in FY 99, a decline of 20.75%. The annual sales are up by 9.11% at Rs. 2379.20 million (FY 99 Rs. 2180.60 million). Other income for the year ended March 31,2000 is Rs 65.20 million (FY 99 Rs24/- million). On the paid up equity share capital of Rs. 120.70 million, the company has reported a basic EPS of Rs. 10.16 in FY 2000(FY 99 Rs. 12.82). |
| Lakshmi Machine Works FY 2000 net profit up by 160.56 % at Rs. 219.19 million
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| Lakshmi Machine Works Ltd has posted a net profit of Rs. 219.19 million for the year ended March 31, 2000 as against Rs. 84.12 million in FY 99. The annual sales are up by 4.96% at Rs. 4312.09 million (FY 99 Rs. 4108.23 million). Other income for the year ended March 31, 2000 is Rs. 145.16 million (FY99 Rs 163.76 million). On the paid up equity share capital of Rs. 121.91million, the company has reported a basic and diluted EPS of Rs. 179.78 for FY 2000 as compared to Rs. 65.97 in FY 99. |
| Nucleus Securities declares 5% interim dividend
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| At a meeting held on May 10, 2000, the Board of Directors of Nucleus Securities Limited declared an interim dividend of 5% on the equity share capital of the company for the financial year 1999-2000.
The record date for the purpose of the payment of the dividend has been fixed on June 7, 2000.
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| Mahavir Spinning MQ 2000 net profit up by 35.79% at Rs. 160.50 million
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Mahavir Spinning Mills Ltd has announced a net profit of Rs. 160.50 million for the quarter ended March 31, 2000 as against Rs. 118.20 million in MQ 99. The sales are up by 10.41% at Rs. 1960.50 million MQ 99 Rs. 1775.60 million). The profits for the year ended March 31, 2000 are Rs. 573.90 million, as compared to Rs. 497.10 million in the previous financial year. The annual sales are 16.26% higher at Rs. 7225.20 million as against Rs. 6214.90 million in the financial year ending March 1999. Exports during the year under review have increased to Rs. 2666.90 million from Rs. 2085.60 million in FY 99.
During the year, the Board of Directors declared an interim dividend of 35%. The Directors have further recommended a dividend of 7% on the paid up equity share capital of the company.
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| Gandhimathi Appliances MQ 2000 net profit at Rs. 4.66 million
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| Gandhimathi Appliances Ltd has reported a net profit of Rs. 4.66 million for the quarter ended March 31, 2000 as against Rs. 1.20 million in MQ 99, an increase of 289.23%. The sales are up by 27.70 % at Rs 112.59 million in MQ 2000 (MQ 99 Rs. 88.17 million). Other income for the quarter ended March 31, 2000 is Rs 0.45 million. The profits for the year ended March 31, 2000 are Rs. 10.61 million, as compared to Rs. 4.56 million in the previous financial year. The annual sales are 44.37% higher at Rs. 410.54 million as against Rs. 284.37 million in the financial year ending March 1999.
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| Nitin Industries MQ 2000 net profit at Rs. 0.16 million
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| Nitin Industries Ltd has announced a net profit of Rs. 0.16 million for the quarter ended March 31, 2000. The sales are at Rs. 6.51 million for MQ 2000. The profits for the year ended March 31, 2000 are Rs. 0.16 million. The annual sales are at Rs. 6.79 million. On the paid up equity share capital of Rs. 2.49 million, the company has reported a basic and diluted EPS of Rs. 0.68 in FY 2000.
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| Silveroak to consider preferential issue |
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At its meeting scheduled on May 13, 2000, the Board of Directors of Silveroak Commercials Ltd will consider an issue of equity shares on a preferential basis.
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| Mardia Steel posts net loss of Rs. 47.63 million in FY 2000
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| Mardia Steel Ltd has announced a net loss of Rs. 47.63 million for the year ended March 31, 2000 as against a loss of Rs. 159.09 million in FY 99. The sales are at Rs. 167.58 million (FY 99 Rs. 167.59 million). Other income is Rs. 2.80 million (FY 99 Rs. 3.93 million).
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| Oriental Carbon to consider transfer of carbon black division
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| At a meeting scheduled to be held on May 15, 2000, the Board of Directors of Oriental Carbon & Chemicals Ltd will discuss the Scheme of Arrangement for transfer of the company's Carbon Black Division to one of its subsidiaries or any other body corporate.
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| Relic Technologies to issue shares on rights, preferential basis
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| At the EGM of Relic Technologies Ltd held on May 8, 2000, the shareholders of the company consented to issue rights shares in the ratio of one share for every four shares held by the shareholders at a price of Rs. 10/- per share. They also agreed to issue 15,00,000 equity shares on preferential basis to FII/FI /Mutual Funds/ Banks and others at a price not less than Rs. 29/- per share as per SEBI guidelines. Additionally, the company plans to acquire/takeover a foreign company subject to the approval of various government authorities.
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| Ciba Speciality FY 2000 net profit up by 52.10% at Rs. 181/- million
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Ciba Speciality Chemicals (India) Ltd has recorded a net profit growth of 52.10% at Rs. 181/- million for the year ended March 31, 2000 as against Rs. 119/- million in FY 99. The sales are up by 46.98 % to Rs. 4530/- million (FY 1999 Rs. 3082/- million). Other income is Rs 55/-million (MQ99 Rs 95/- million). On the paid up equity share capital of Rs. 133/- million, the company has reported a basic and diluted EPS of Rs. 13.60 in FY 2000 as compared to Rs. 8.96 in FY 99.
The company has acquired 1.53 million equity shares amounting to 51% of the paid share capital in Diamond Dye- Chem Limited (DDL) on May 1, 2000 and consequently DDL has become a subsidiary with effect from May 1, 2000.
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| Zee Telefilms MQ 2000 net profit at Rs. 2052.50 million
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Zee Telefilms Ltd has announced a net profit of Rs. 2052.50 million for the quarter ended March 31, 2000 as against Rs. 178.60 million in MQ 99, an increase of 1049.22% The sales are up by 397.23% to Rs. 2440.90 million (MQ 99 Rs. 490.90 million). Other income for MQ 2000, which includes a commission income of 185.9 million, is Rs 229.40 million for (MQ 99 Rs.148.50 million, commission income Rs. 132.60 million). The profits for the year ended March 31, 2000 are Rs. 2671.20 million, as compared to Rs. 611.40 million in the previous financial year. The annual sales are higher by 133.14% at Rs. 4085.80 million as against Rs. 1752.50 million in the financial year ending March 1999. The other income for FY 2000, including a commission income of Rs. 673.50 million is Rs. 774.30 million as against Rs. 564.80 million in FY 99(commission income Rs. 509.20 million).
During the quarter, the company has paid to Newscorp group of Companies USD 153.11 million in cash and also issued 16,127,412 equity shares of Rs. 1/- each at a premium of Rs. 399 per share. This was towards full consideration to acquire 50% stake in Siticable Network Ltd. (Siticable), Winterheath Ltd., holding company of Asia Today Ltd. (ATL) and Programme Asia Trading Company Ltd. (PATCO). The balance 50% had already been acquired earlier. Hence, the company owns these entities 100%.
During the period, the company got its films & television programme library valued by a reputed International Consulting Firm, who valued these at Rs.26340 million. During the fourth quarter, the company has sold small part of its film library to ATL. As a result, sales in the fourth quarter has increased by Rs.1889.50 million and gross profit has increased by Rs.1851/- million.
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| Kothari Products net profit down by 15%, turnover dips 43.51%
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| Kothari Products Ltd has reported a net profit of Rs 49.80 million for the quarter ended March 31, 2000 as against Rs 58.60 million in MQ 99, a decrease of 15%. The sales are down by 43.51% at Rs 465.40 million. Other income is significantly higher at Rs 58.50 million (MQ 99 Rs 10.30 million). Out of the total other income for the current quarter Rs 37.40 million is from sale of investments/shares. For the eighteen months ending on March 31, 2000 the company has recorded a profit of Rs 283.90 million and a turnover of Rs 3138.40 million. The company's equity share capital as on March 31, 2000 stood at Rs 50 million on which the company had declared an interim dividend of 150% on March 31, 2000. The Board has fixed May 16, 2000 as the record date for the aforesaid interim dividend.
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| MTZ India declares Rs 2/- million profit for MQ 2000, FY 2000 loss increase 86%
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MTZ (India) Ltd has reported a net profit of Rs 2.05 million for the quarter ended March 31, 2000 as against a loss of Rs 57.22 million in MQ 99. The improved performance is inspite of a decline in sales by 46.31 % which stood at Rs 79.45 million for the current quarter as against Rs 147.97 million in MQ 99. Other income is significantly higher at Rs 17.38 million (MQ 99 Rs 0.89 million). The company has incurred a loss of Rs 157.80 million for the year ended March 31, 2000 as compared to a loss of Rs 84.75 million in the previous financial year, an increase of 86.20%. The annual sales are 55% down at Rs 403.75 million as against Rs 897.10 million in the financial year ending March 1999. In the year-end results the company has declared an Extra-ordinary item of Rs 94.16 million against Rs Nil in FY 99. The said extraordinary items of Rs 94.16 million represent:
A) Profit on sale of Sulphuric Acid unit Rs 13.62 million
B) Loss on sale of Silica Unit Rs 88.01 million
C) Advance Lease Rentals on foreclosure of Lease Rs 19.77 million.
The company has informed that Production of insoluble Sulphur at Patalganga was temporarily suspended for 20 days in March 2000 for technical upgradation while operations at the Company's Roha plant continued to be suspended.
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| Tolani Bulk Carriers records Rs 8.20 million profit for MQ 2000, FY 2000 net profit declines 19%
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| Tolani Bulk Carriers Ltd has announced a net profit of Rs 8.20 million for the quarter ended March 31, 2000 as against a loss of Rs 9.79 million in MQ 99. The sales are up by 17.27 % at Rs 149.21 million. The profits for the year ended March 31, 2000 are Rs 10.08 million, as compared to Rs 12.40 million in the previous financial year- decrease of 18.71%. The annual sales are 12.48 % down at Rs 558.89 million as against Rs 638.55 million in the financial year ending March 1999. On the equity capital of Rs 240 million the company has reported a basic and diluted EPS of Rs 0.42 (not to be annualised). |
| Vardhman Polytex MQ 2000 up by 121%, sales rise 17%
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Vardhaman Polytex Ltd has reported a net profit of Rs 65.20 million for the quarter ended March 31, 2000 as against Rs 29.50 million in MQ 99. The sales are up by 17.41% at Rs 596.20 million. Other income is Rs 8.60 million (MQ 99 Rs 0.90 million). The profits for the year ended March 31, 2000 are Rs 172/- million, as compared to Rs 125.30 million in the previous financial year. The annual sales are 5.71 % up at Rs 2226.40 million as against Rs 2106.20 million in the financial year ending March 1999. On the equity share capital of Rs 106.50 million the company has reported an earnings of Rs 16.15 per share.
The expansion undertaken by the company at Baddi by way of a new unit started its commercial production in March 2000. During the year 1999-2000, the Board of Directors declared an Interim Dividend of 35% on the paid up Equity Share Capital of the Company. The Directors have further recommended a final dividend of 7% on the paid-up equity share capital of the Company
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| DFM Foods FY 2000 Net Profit up by 154 % at Rs 2.80 million, PBT rise 209%
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| Delhi based DFM Foods Ltd has registered a 154% rise in its net profit for the year ended March 31, 2000. The net profits for the year were Rs 2.80 million as compared to Rs 1.10 million in FY 99. The sales are marginally higher (2.61%) at Rs 746.60 million (FY 99 Rs 727.60 million). Other income is Rs 0.8 million (MQ 99 Rs 0.6 million). The profit before tax at Rs 3.40 million has improved 209.09% over Rs 1.10 million in the previous year. The company's equity share capital was Rs 99.70 million and the reserves Rs 22 million as on March 31, 2000.
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