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May 11, 2000
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| LIC Housing MQ 2000 net profit up by 14.06 % at Rs 443.8 million
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| LIC Housing Finance Ltd has announced a net profit of Rs 443.80 million for the quarter ended March 31, 2000 as against Rs 389.10 million in MQ 99. The sales are up by 15.30 % at Rs 1840.90 million. Other income is Rs 4.10 million (MQ99 Rs 8.10 million). The profits for the year ended March 31, 2000 are Rs 1090.8 million, as compared to Rs 1011.40 million in the previous financial year. The annual sales are 15.05 % up at Rs 6449.20 million as against Rs 5605.70million in the financial year ending March 1999. The Board has recommended a final dividend of 5% in addition to interim dividend of 25% for the financial year ending March 31, 2000.
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| Hitech Drilling FY 2000 net profit down by 39.98 % at Rs 212.9 million
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Hitech Drilling Ltd has announced a net profit of Rs 212.9 million for the year ended March 31, 2000 as against Rs 354.7million for the financial year March 99. The sales are down by 22.18 % at Rs 1168.3 million as against Rs 1501.2 million for FY 99. Other income for FY 2000 is Rs 65.50million (FY99 Rs 60.40million). On the equity capital of Rs 203.4 million the company has reported an EPS of Rs 10.46 for the year ended March 31, 2000.
The results for the year ended March 31, 2000 relate to the operations of two units i.e. Hitdrill-1 operating for ONGC and Tahara for Hardy Exploration and Production India Inc. The results for the year ended March 31, 1999 related to the operations of three units Hitdrill-1, Tahara and Marine-201.
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| Nirma FY 2000 net profit at Rs. 2341/- million against projected Rs. 911/- million
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Nirma Ltd has surpassed its projected profit of Rs. 911/- million recording a net profit of Rs. 2341/- million for the year ended March 31, 2000 (FY 99 Rs. 1704.90 million). The annual sales are up by 16.24% at Rs. 14551.70 million as compared to Rs. 12518.30 million for the financial year ending March 1999. The other income for FY2000 was Rs. 349/- million (FY 99 Rs. 231.50 million). Depreciation charges for the year ended March 31, 2000 were higher at Rs. 628/- million (FY 99 Rs. 318.7 million). During the year, the company changed its policy of providing depreciation on certain machinery for modernisation due to which an additional Rs. 25.70 million was provided for. Interest charges rose from Rs. 304.3 million in FY 99 to Rs. 557/- million in FY 2000. Provision for Taxation increased to Rs. 307.50 million (FY 99 Rs. 197.50 million). On the paid up equity share capital of Rs. 338.8 million, the company has reported a basic EPS of Rs. 69.46 and a fully diluted EPS (considering outstanding warrants) of Rs. 29.62 for FY 2000.
The company's project to manufacture 420000 tpa Soda Ash at Bhavnagar Chemical Complex has been recently implemented and commercial production has commenced from March 11, 2000. The company has also initiated actions to set up manufacturing facilities for detergents and toilet soaps at the said location. Additionally, the company has increased the installed capacity of its Toilet Soap Division at Mandali, Dist. Mehsana in Gujarat from 90000 tpa to 110000 tpa during the year.
The Board of Directors have recommended a final dividend of Re. 1/- per share
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| Elgi Equipments MQ 2000 net profit at Rs. 10.88 million
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Elgi Equipments Ltd has announced a net profit of Rs. 10.88 million for the quarter ended March 31, 2000 as against Rs. 37.25million in MQ 99. The sales are up by 23.87% at Rs. 509.03 million (MQ 99 Rs. 410.93 million). Other income is Rs. 4.63 million (MQ99 Rs. 9.89 million). The profits for the year ended March 31, 2000 are Rs. 59.22 million, as compared to Rs. 66.49 million in the previous financial year, a decline of 10.93%. The annual sales are up by 2.12% at Rs. 1535.97 million as against Rs. 1504.02 million in the financial year ending March 1999. On the paid up share capital of Rs. 30/- million, the company has reported a basic EPS of Rs. 19.74 and a diluted EPS of Rs. 14.80 for the year ended March 31,2000.
The company has decided not to provide interest on the unsecured loan of Rs. 290.200 million given to Elgi Finance Ltd due to the erosion of the net worth of the latter.
The Board of Directors has determined the interim dividend of 30% declared as final dividend.
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| Jai Parabolic Springs records net loss of Rs. 33.33 million in MQ 2000
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Jai Parabolic Springs Ltd has incurred a net loss of Rs. 33.33 million for the quarter ended March 31, 2000 as against a loss of Rs. 4.56 million in MQ 99. The sales are up by 41.96% to Rs. 155.89 million (MQ 99 Rs. 109.81 million). The depreciation charge for MQ 2000 was higher at Rs. 11.97 million as compared to Rs. 5.40 million in MQ 99. The interest charge increased from Rs. 17.32 million in MQ 99 to Rs. 29.73 million in the quarter ended March 31,2000.
The Chennai plant which started commercial production from March 30,1999 is scheduled to be hived off in due course to a proposed wholly owned subsidiary of the Company subject to the approvals of competent authorities including financial institutions.
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| Cenlub Industries MQ 2000 net loss at Rs. 0.35 million
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| Cenlub Industries Ltd has announced a net loss of Rs. 0.35 million for the quarter ended March 31, 2000 as against a loss of Rs. 0.92 million in MQ 99. The sales have fallen by 5.42% to Rs. 11.16 million (MQ 99 Rs. 11.80 million). For the year ended March 31, 2000, the company posted a loss of Rs. 1.09 million, as compared to a loss of Rs. 3.60 million in the previous financial year. The annual sales are lower by 8.27% at Rs. 38.27 million as against Rs. 41.72 million in the financial year ending March 1999.
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| BSE imposes 25% special margin on Cadila Healthcare
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| The BSE has imposed a special margin of 25% on Cadila Healthcare Ltd w.e.f from May 11, 2000.
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| Southern Peninsula Housing ties up with Intech Net for internet services
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| Southern Peninsula Housing has entered into a business tie up with Intech Net Ltd., a joint venture of CTI INC, USA for International Private Gateway Internet Services with nodes at Chennai, Bangalore, Cochin, Calcutta, Delhi and 40 sub nodes throughout India. |
| Sangam Processors to enter software, hardware business
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| The Board of Directors of Sangam Processors (Bhilwara) Ltd. have decided to change the object clause of the company in order to venture into software, hardware, media, entertainment, education and other businesses.
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| Oxford Industries to set up Rs. 172.50 million project
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| Oxford Industries Ltd intends to embark upon a project for cotton processing and installation of a yarn dying facility. The approximate cost of the project is Rs.172.50 million.
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| Khyati Resorts to make foray in entertainment activities
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| The Board of Directors of Khyati Resorts Ltd have decided to bring about a change in the main object clause of the company to incorporate objects for multimedia based entertainment activities. In keeping with the diversification, a change in the name of the company to Khyati Multimedia-Entertainment Ltd has also been proposed by the Board. The EGM of the company will be held on May 31,2000.
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| FCL Technologies & Products to set up call centre
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| Consequent to the amendments made by the company in its main object clause incorporating activities relating to IT and other related areas, FCL Technologies & Products Ltd, formerly known as Flex Chemicals Ltd, has informed the BSE that it proposes to set up a Call Centre which is expected to become operational by Dec.2000.
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| BIFR declares Incab Industries sick
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| A bench of the BIFR has declared Incab Industries Ltd a Sick Company under Sec.3(1)(0) of SICA, 1985 and has appointed State Bank of India as the operating agency.
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| Brijlaxmi Leasing & Finance to incorporate subsidiary for software development
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| Brijlaxmi Leasing & Finance Ltd has decided to incorporate a subsidiary company, namely Brijlaxmi Infotech Ltd. (BIL), to undertake software development and other related businesses. BIL, which has been registered with the Software Technologies Parks of India, is entitled to various fiscal incentives and benefits as an Export Oriented Unit. BIL commenced commercial operations on March 31,2000.
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| Avery Berkel Group to sell its weighing and food processing equipment division to Weigh Tronix, USA |
Avery India Ltd has been informed that under Marconi's Global restructuring scheme, the weighing and food processing equipment division carried on by the Avery Berkel Group is to be sold to Weigh-Tronix, USA. GEC International Ltd, UK; promoters and substantial shareholder of the Avery India Ltd, is one of the group companies forming part of the Avery Berkel Group. The deal is in process and yet to be completed. The proposed acquisition of Avery Berkel Group with pro forma revenues of GBP 146 million and Weigh Tronix with revenues of US $ 121 million in the year ended March 31, 1999 will make the new company one of the largest companies in the weighing industry in the world.
Weigh-Tronix, one of the largest industrial weighing companies, is made up of three businesses:-
A] Weigh-Tronix North America, a manufacturer of electronic and weighing components and systems.
B] Salter Weigh-Tronix, a U.K company which manufactures, sells and services mechanical weighing systems, and
C] Salter Housewares, the U.K market leader of household scales.
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| DCM Shriram Consolidated net profit rises 57%, turnover up by 40% |
| DCM Shriram Consolidated Ltd has announced a net profit of Rs 340.20 million for the year ended March 31, 2000 as against Rs 216.20 million in FY 99. The net sales are up by 39.62% at Rs 8152.50 million. Other income is Rs 46.10 million (FY 99 Rs 55.60 million). The gross sales (including Excise duty) for the year were Rs 8762.80 million comprising of Rs 7885/- million coming from sale of own products and Rs 877.60 million from sale of traded products. The operating profit of the company stood at Rs 1167.90 million as against Rs 998.30 million for the previous financial year. The Board of Directors had declared two interim dividends during the year aggregating to 40%. No further dividend has been recommended and the interim dividend has to be treated as the total dividend for the year. |
| Ancent Software revenues at Rs 3.12 million in MQ 2000
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| Hyderabad based Ancent Software International Ltd has reported an operating income of Rs 3.12 million for the quarter ended March 31, 2000 as against Rs 3.90 million in the whole year ending on December 31, 1999. The company has recorded a net profit of Rs 175/- thousand for the quarter as compared to a loss of Rs 407/- thousand for the corresponding quarter of the previous financial year. The interest charges were higher at Rs 522/- thousand (MQ 99 Rs 471/- thousand). The depreciation charges have reduced from Rs 66/- thousand in MQ 99 to Rs 37/- thousand in MQ 2000. The company's equity share capital increased from Rs 33.58 million on December 31, 1999 to Rs 50 million on March 31, 2000.
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| BSE imposes special margin on Pentagon Global and Shiva Cements
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| The BSE has imposed special margin at the rate of 25% Pentagon Global Solutions Ltd and Shiva Cements Ltd. The special margins imposed shall be with effect from May 10, 2000. |
| Marathwada Refractories FY 2000 net profit at Rs. 18.49 million
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| Marathwada Refractories Ltd has posted a net profit of Rs. 18.49 million for the year ended March 31, 2000 as against Rs. 1.08 million in FY 99, an increase of 1620.19%. The annual sales are up by 40.33% at Rs. 122.02 million. Other income is Rs. 3.52 million (FY 99 Rs. 0.86 million).
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| Georg Fischer Disa MQ 2000 net profit at Rs. 14.33 million
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| Georg Fischer Disa Ltd has announced a net profit of Rs. 14.33 million for the quarter ended March 31, 2000 as against Rs. 7.04 million in MQ 99, an increase of 103.48%. The sales are up by 38.08% at Rs. 65.19 million (MQ 99 Rs. 47.21 million). Other income is Rs. 6.21million (MQ99 Rs. 6.33 million). The profits for the year ended March 31, 2000 are Rs. 10.05 million, as compared to Rs. 10.32 million in the previous financial year. The annual sales are 12.91% higher at Rs. 140.33 million as against Rs. 124.29 million in the financial year ending March 1999. |
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