|
May 16, 2000
Books
Columnists
Indian Tax
Insurance
Interview
Mutual Funds
NRI Tax
Personal Finance
Personal Banking
Real Estate
Stocks
|
| Modi Rubber incurs Net Loss of Rs 123.93 million in MQ 2000 |
| Modi Rubber Ltd has incurred a net loss of Rs 213.93 million for the quarter ended March 31, 2000 as against a profit of Rs 53.72 million earned in MQ 99. The sales are down by 15.73 % at Rs 1970.38 million. Other income is Rs 18.03 million (MQ 99 Rs 16.87 million). For the six months ended March 31, 2000 the company has recorded a turnover of Rs 4233.73 million (Rs 4631.28 million). The loss for the same period is Rs 168.14 million as against Rs 77.55 million profit in the same period of the previous year. The other income for the six-month period is Rs 31.86 million (Rs 36.88 million). The company's equity share capital as on March 31, 2000 stood at Rs 250.41 million. |
| Elgi Equipments to consider Bonus issue, Subdivision of face value of shares |
The Board of Directors of Elgi Equipments Ltd will meet on May 25, 2000 to consider the following subjects:
1. Subdivision of face value of existing equity shares.
2. Issue of Bonus Shares.
3. Re-appointment of Managing Director.
4. To alter certain Clauses of the Memorandum and Articles of Association.
|
| Zuari Industries to consider hiving off cement business in a JV |
| The Board of Directors of Zuari Industries Ltd will meet on May 17, 2000 to consider the proposal to enter into a Joint Venture agreement with Ciments Francais , an Italcementi Group company, a leading cement manufacturing company in the world, for carrying on the cement business in a separate joint venture company. |
| BILT to consider hiving off AAC unit at Palwal |
| The Board of Directors of Ballarpur Industries Ltd (BILT) will meet on May 22, 2000 to consider among other routine items, the proposal for hiving off Company's AAC unit at Palwal. |
| Leading Edge Systems MQ 2000 Net Profit down by 81.18% at Rs 7.26 million |
Leading Edge Systems Ltd has announced a net profit of Rs 7.26 million for the quarter ended March 31, 2000 as against Rs 38.59 million in MQ 99. The sales are up by 5.85 % at Rs 177.45 million. Other income is Rs 11.74 million (MQ99 Rs 16.88 million). The profits for the year ended March 31, 2000 are Rs 99.68 million, as compared to Rs 133.120 million in the previous financial year. The annual sales are 6.06 % up at Rs 673.17 million as against Rs 634.69 million in the financial year ending March 1999.
The fall in profits could be attributed to an exceptional item which represents the demand received from the Income Tax authorities aggregating to Rs 29.561 million for the amount of tax not deducted at source by Company on salaries of certain employees for the five assessment years ended March 31, 1999. The Company has filed appeals contesting the demand raised and has paid Rs 14.781 million under protest towards the aggregate demand.
|
| Torrent Gujarat Biotech FY 2000 Net Loss at Rs 62.10 million |
Torrent Gujarat Biotech Ltd has announced a net loss of Rs 62.10 million for the year ended March 31, 2000 as against a net loss of Rs 444.50 million in FY 99. The sales are down by 0.09 % at Rs 870.40 million. Other income is Rs 20.80 million (FY99 Rs 83.50 million).
No provision has been made for the period from 01/04/1999 to 31/03/2000 towards interest on debentures, term loan from SBI and Working Capital facilities from consortium to the extent of Rs 223.08 million.
|
| Bajaj Auto FY 2000 Net Profit up by 13.54 % at Rs 6137.30 million |
Bajaj Auto Ltd has announced a net profit of Rs 6137.30 million for the year ended March 31, 2000 as against Rs 5405.20 million in FY 99. The sales are up by 4.62 % at Rs 38104.90 million in FY 2000 as compared to Rs 36420.50 million for FY 99. Other income is Rs 4050.60 million (FY99 Rs 2651.50) million. On the equity capital of Rs 1193.90 million the company has reported an EPS of Rs 53.17 per share
The total two and three wheeler production and sale during the year ended March 31 2000 was 14,32,471 and 14,12,598 respectively. The corresponding figures for the year ended March 31 1999 were 13,81,765 and 14,23,501.
|
| CPEC FY 2000 Net Profit down by 89.02 % at Rs 0.67 million |
| CPEC Ltd has announced a net profit of Rs 0.67 million for the year ended March 31, 2000 as against Rs 6.06 million in FY 99. The sales for FY 2000 are up by 12.64 % at Rs 43.94 million. Other income is Rs 1.40 million (FY 99 Rs 0.89 million). |
| BOC India to provide Rs 400 million for obsolete assets, unrecoverable debts, etc.. |
The Board of Directors of BOC India Ltd, a member of the BOC Group, UK, has decided to make a provision of approximately Rs 400 million in the financial accounts for the 18 months ended March 31, 2000.
The company has undertaken an internal due diligence exercise in parallel with a significant change in its IT systems, including a thorough and extensive examination of all balance sheet procedures and controls. As a result of this exercise the Board has considered appropriate to provide for obsolete assets, unrecoverable debts and other items to reflect their value as on March 31, 2000. A similar provision, based on UK GAAP, has also been made by The BOC Group Plc, the holding company, in their unaudited results for the half-year ended March 31, 2000.
The Board of Directors of BOC India Ltd at a recent meeting discussed the various issues arising out of the above and the finalisation of the accounts for the 18 months period from October 1, 1998 to March 31, 2000 along with Statutory Auditors of the company M/s Price Waterhouse. It was decided by the Board that a further tightening of controls was required to focus on key areas including cost reduction, wastage, gas losses, power and to ensure compliance with accounting policies of the company.
Consequently the Board has taken the above decision to provide approximately Rs 400 million in the financial accounts for the 18 months ending March 31, 2000. The Board of BOC India is scheduled to meet on June 2, 2000 to adopt the financial accounts for the 18 months period March 31, 2000. The half-yearly unaudited results of The BOC Group Plc, UK will be declared on May 16, 2000.
|
| NIIT helping major corporations by leveraging Information Technology |
NIIT Ltd is working with a number of customers at Gujarat in aggressively implementing Software Solutions and large systems integration projects so as to help exploit the power of IT for gaining competitive advantage. NIIT is implementing a customised ERP package at leading fertiliser manufacturer Kribhco's Hazira plant in Surat. This package aims to align the entire purchase, inventory, manufacturing, finance and transportation systems. NIIT is also creating Software Solutions for Kribhco's head office at Noida.
For Indian Oil Corporation operations in Baroda, NIIT is implementing two of their biggest software packages to fully automate their materials management and financial management functions. NIIT is due to complete these two projects in the quarter ending June 30, 2000.Besides these projects NIIT is creating internet strategy and internet solutions for a large number of companies like Apollo Hospitals, Vijaya Bank, Glaxo and UNAIDS. In an opinion poll conducted by Computerworld magazine in 1999 among 500 CIO's NIIT ranked among top 2 leading System Integration Services Providers.
NIIT which derived revenues of Rs 337 crores from software development, for the six month period ending March 31, 2000 has been rapidly transforming itself into an eBusiness Solutions Corporation. eRevenues constituted 35% of the total revenues for the same period. NIIT has created its own eCommerce products and solutions -NIITePayServer, a bill presentment software that consolidates bills from different sources and makes a one-stop link for both buyers and sellers. NIITeMart is a ready to use product that helps create a shopping mall on the Web. NIITePortal helps create an entry point on the web for surfers.
|
| Unicorp Industries allots equity shares to creditors |
| The Board of Directors of Unicorp Industries Ltd has allotted 950000 equity shares of Rs.10/- each at a premium of Rs.40/- per share by conversion of debts/loans to one of the creditors/loan holders on preferential allotment basis. |
| SIP Industries divests stake in subsidiary |
| SIP Industries Ltd has informed the BSE that, SIP Technologies & Exports Ltd. (SIP) ceases to be a subsidiary of the company w.e.f. 31.03.2000 as a result of disinvestment of part of company's shareholding in SIP and the current holding after such disinvestment constitutes 42.85% of its existing share capital. |
| Mphasis-BFL to launch a web design agency |
| Mphasis-BFL, the combined entity formed by Santa Monica Callifornia based Mphasis Corporation and BFL Software Ltd have announced plans to launch a premium web design agency. |
| Triochem Products FY 2000 Net Loss at Rs 0.83 million |
| Triochem Products Ltd has announced a net loss of Rs 0.83 million for the year ended March 31, 2000, as compared to a loss of Rs 7.33 million in the previous financial year. The annual sales are down by 22.64% at Rs 8.48 million as against Rs 10.96 million in the financial year ending March 1999. Other income is Rs 3.90 million (FY 99 Rs 0.43 million). |
| Sakthi Sugar MQ 2000 Net Profit at Rs 155.54 million
|
Sakthi Sugar Ltd has announced a net profit of Rs 155.54 million for the quarter ended March 31, 2000 as against Rs 236.75 million in MQ 99. The sales are up by 18.63 % at Rs 1023.87 million. Other income is Rs 11.70million (MQ99 Rs 4.23 million). The interest charges have risen from Rs 139.25 million in MQ 99 to Rs 185.28 million in MQ 2000.
The Board of Directors of Sakthi Sugar Ltd at its meeting held on May 15, 2000 has fixed the issue price of 1,41,00,000 equity shares of Rs 10 each of the company at Rs 14.30 per share as per SEBI guidelines which the company proposes to issue on preferential basis to the promoters of the company.
|
| Gandhi Special Tubes Net Profit up by 11% at Rs 43.77 million
|
| Gandhi Special Tubes Ltd has announced a net profit of Rs 43.77 million for the year ended March 31, 2000 as against Rs 39.52 million in FY 99. The sales are up by 21.55 % at Rs 312.39 million. Other income is Rs 14.01 million (FY99 Rs 12.46 million). The interest expenditure during the year has reduced considerably from Rs 2.15 million in FY 99 to Rs 1.25 million in the year ended March 31, 2000. The PBT has risen from Rs 5.22 million to Rs 71.97 million. The tax provision for the year is higher at Rs 28.20 million as against Rs 15.70 million in the previous financial year. The company's equity share capital as on March 31, 2000 stood at Rs 94.49 million and the reserves as on that date was Rs 142.73 million. The company has reported a earnings of Rs 4.63 per share as against Rs 4.18 per share in FY 99. Since the company has paid an interim dividend of Rs 1.50 per equity share, the Board has not recommended any final dividend for the year.
|
| Asia Fab MQ 2000 Net Loss at Rs 7.29 million
|
| Asia Fab Ltd has incurred a net loss of Rs 7.29 million for the year ended March 31, 2000 as against a los of Rs 13.74 million in MQ 99. The sales are up by 28.80 % at Rs 15.09 million. Other income is Rs 0.58 million (FY 99 Rs 0.91 million). The interest expenses have gone up from Rs 4.68 million in FY 99 to Rs 5.99 million in FY 2000. Operating expenses were under control at Rs 3.23 million as against Rs 4.01 million in FY 99.
|
RISC
Tell us what you think of this feature
|
