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April 22, 2000
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| Rajratan Gustav Wolf MQ 2000 net profit rises 93.56 %, Turnover increase 37.006 % |
| Rajratan Gustav Wolf Ltd has announced a net profit of Rs 4.51 million for the quarter ended March 31, 2000 as against Rs 2.33 million in MQ 99. The sales are up by 37.06 % at Rs 117.15 million. Other income is Rs 0.14 million (MQ 99 Rs NIL). The profits for the year ended March 31, 2000 are Rs 16.23 million, as compared to Rs 10.50 million in the previous financial year, an increase of 54.65 %. The annual sales are 27.18 % up at Rs 446.53 million as against Rs 351.09 million in the financial year ending March 1999. The Board of Directors of the company has declared an interim dividend at the rate 10% for the year 1999-2000. The company has informed that it has been recommended for ISO Certification. |
| Lahoti Overseas net profit at Rs 9.41 million, interim dividend at Rs 1.50/- per share |
| Lahoti Overseas Ltd has announced a net profit of Rs 9.41 million for the quarter ended March 31, 2000 as against a loss of Rs 3.14 million in MQ 99. The sales are down by 23.84 % at Rs 153.87 million. Other income is Rs 4.82 million (MQ 99 Rs 1.22 million). The profits for the year ended March 31, 2000 are Rs 27.18 million, as compared to Rs 26.53 million in the previous financial year. The annual sales are 8.91 % down at Rs 683.73 million as against Rs 750.58 million in the financial year ending March 1999. On the equity capital of Rs million the company has reported an EPS of Rs 5.41 for the year 1999-2000. The Board of Directors of the company has declared an interim dividend at the rate of 1.50 per share for the year 1999-2000. |
| Sukhjit Starch MQ 2000 net profit up by 101.19%, Annual profits slide 25.39% |
| Sukhjit Starch & Chemicals Ltd has posted a net profit of Rs 3.05 million for the quarter ended March 31, 2000 as against Rs 1.52 million in MQ 99, a growth of 101.19 %. The sales are up by 8.37 % at Rs 147.37 million. Other income is Rs 5.57 million (MQ 99 Rs 2.35 million). The profits for the year ended March 31, 2000 have reduced 25.39 % from Rs 38.22 million in FY 99 to Rs 28.51 million in FY 2000. The annual sales are Rs 517.72 million as against Rs 528.25 million in the financial year ending March 1999. On the equity capital of Rs 36.90 million the company has reported a basic and diluted earnings of Rs 7.73 per share for the FY 1999-2000. For the year ending March 31, 2000 the Board has recommended an interim dividend of 30%. |
| Oudh Sugar incur Rs 19.895 million loss for 12 months ending March 31, 2000 |
| Oudh Sugar Ltd has recorded a net profit of Rs 171.984 million for the quarter ended March 31, 2000 as against Rs 103.86 million in MQ 99. The improved profits are inspite of a 0.79 % reduction in sales from Rs 375.72 million in MQ 99 to Rs 372.76 million in MQ 2000. Other income is Rs 25.85 million (MQ 99 Rs 5.84 million). However the company has incurred a loss of Rs 19.90 million for the 12 months ended March 31, 2000, as against a profit of Rs 29.01 million in the previous financial year. The sales for the said 12 months are 2.01 % up at Rs 1917.51 million as against Rs 1879.80 million in the financial year ending March 1999. The current Accounting year of the company will end on June 30, 2000 comprising of 15 months. The company has reported that the expansion of its sugar factory at Narkatiaganj from 2500 TCD to 5000 TCD has been completed as per Schedule. |
| MUSCO steel division hive-off to Sidenor S.A. Spain, postponed |
| Sidenor S. A., Spain has communicated to Mahindra Ugine Steel Co. Ltd (MUSCO) that they have decided not to finalise the Joint Venture proposal as they have decided to postpone their investment in India. Earlier MUSCO had sought the approval of its members to hive off its steel division into a separate joint venture company with Sidenor S. A. , Spain. |
| Hotline Teletube MQ 2000 net profit at Rs 3 million, turnover declines 37.36 % |
| Hotline Teletube & Components Ltd has posted a net profit of Rs 3/- million for the quarter ended March 31, 2000 as against a loss of Rs 9.80 million in MQ 99. The sales are down by 37.36 % at Rs 98.60 million. Other income is Rs 1.30 million (MQ 99 Rs 0.10 million). |
| Walchandnagar Industries Net profit up by 49.07%, turnover down by 1.70% |
| Walchandnagar Industries Ltd has announced a net profit of Rs 31.90 million for the quarter ended March 31, 2000 as against Rs 21.40 million in MQ 99. The sales are up down 1.70 % at Rs 536.80 million. Other income is Rs 6.70 million (MQ 99 Rs 2.30 million). The profit for the half-year ending March 31, 2000 is up by 51.68 % at Rs 36.10 million. The sales for the period at Rs 860.30 million are down by 10.93 % as compared to Rs 965.90 million for the same period in the last financial year. |
| Walchandnagar Industries Net profit up by 49.07%, turnover down by 1.70% |
| Walchandnagar Industries Ltd has announced a net profit of Rs 31.90 million for the quarter ended March 31, 2000 as against Rs 21.40 million in MQ 99. The sales are up down 1.70 % at Rs 536.80 million. Other income is Rs 6.70 million (MQ 99 Rs 2.30 million). The profit for the half-year ending March 31, 2000 is up by 51.68 % at Rs 36.10 million. The sales for the period at Rs 860.30 million are down by 10.93 % as compared to Rs 965.90 million for the same period in the last financial year. |
| SIP Industries records profit of Rs 132.15 million, other income Rs 175.56 million |
| SIP Industries Ltd has recorded a net profit of Rs 132.15 million for the quarter ended March 31, 2000 as against a loss of Rs 19.09 million in MQ 99. The sales are up by 73.13 % at Rs 31.74 million. Other income is Rs 175.56 million (MQ 99 Rs 3 /- million). The profits for the year ended March 31, 2000 are Rs 99.09 million, as against a loss of Rs 52.09 million in the previous financial year. The annual sales are 6.76 % down at Rs 107.48 million as against Rs 115.28 million in the financial year ending March 1999. The Board has declared an interim dividend at the rate of Rs 2/- per share. The interim dividend will absorb a sum of Rs 52, 830/-. |
| Tata Elxsi FY 1999-2000 net rises 141.81%, turnover up by 31.32%, Interim dividend at 15% |
| Tata Elxsi Ltd has posted a net profit of Rs 51.63 million for the quarter ended March 31, 2000 as against Rs 32.42 million in MQ 99, an increase of 59.25%. The sales are up by 8.12 % at Rs 411.79 million. Other income is Rs 0.84 million (MQ 99 Rs 2.25 million). The profits for the year ended March 31, 2000 are Rs 67.05 million, 141.81 % higher than Rs 27.73 million achieved in FY 1998-99. The annual sales are 31.32% up at Rs 1237.37 million as against Rs 942.23 million in the financial year ending March 1999.The equity capital of the company as on March 31, 2000 is Rs 311.38 million while the reserves as on that date is Rs 18.407 million. The Board has declared an interim dividend at the rate of 15% for the year 1999-2000. |
| Upsurge Investment to allot 4 million shares at Rs 25/- each on preferential basis |
| The Board of Directors of Upsurge Investment and Finance Ltd at its meeting held on April 21, 2000 decided to allot 4 million shares of the company to persons and corporates on preferential basis. The said shares of Rs 10/- each will be allotted at a premium of Rs 15/- per share. The shareholders had passed a Special Resolution at their EGM on March 21, 2000 tom enable the aforesaid allotment. |
| Amrit Enterprises MQ 2000 net rises 78.85%, turnover up by 28.07% |
| Amrit Enterprises Ltd has announced a net profit of Rs 6.07 million for the quarter ended March 31, 2000 as against Rs 3.40 million in MQ 99. The sales are up by 28.07 % at Rs 318.47 million. Other income is Rs 0.17 million (MQ 99 Rs 0.03 million). The profits for the year ended March 31, 2000 at Rs 12.21 million, represent a 47.89 % increase as compared to Rs 8.25 million in the previous financial year. The annual sales are 53.84 % up at Rs 1049.63 million as against Rs 682.27 million in the financial year ending March 1999. On the equity capital of Rs 50.95 million the company has reported an earnings of Rs 2.33 per share for the financial year 1999-2000. |
| Ashok Leyland Finance MQ 2000 net rises 34.70 %, income down by 2.53 %, Interim at 40 % |
| Ashok Leyland Finance Ltd has announced a net profit of Rs 55.90 million for the quarter ended March 31, 2000 as against Rs 41.50 million in MQ 99. The income from operation is marginal down by 2.53 % at Rs million as compared to Rs 700 million in MQ 99. Other income is Rs 18/-million (MQ 99 Rs 31.60 million). The Board has declared an interim dividend of 40% for the financial year 1999-2000. The dividend will be payable to the shareholders whose names appear on the Register of Members as on May 26, 2000. |
| Hinduja Finance Board approves one-share-for-five swap ratio for Richman merger |
The Board of Directors of Hinduja Finance Corporation Ltd (HFCL) has given its in principle approval of the merger of Hinduja Telecom India Ltd with Hinduja Fincance Corporation Ltd for acquiring stake in FASCEL Ltd. FASCEL is a cellular operating company in the State of Gujarat. The company has appointed M/s. A. F. Ferguson & Co. as independent valuers for arriving at swap ratio.
The Board has adopted the valuation report for the merger of Richman Investrade Pvt. Ltd. Accordingly the Board has approved the swap ratio of 1 share of HFCL for every 5 shares of Richman Investrade Pvt. Ltd.
The Board has also approved in principle the merger of Melody Trading Pvt. Ltd with HFCL for acquiring stake in Cable Video (India) Ltd., operating a Hindi movie cable channel - CVO. For the purpose of arriving at the swap ratio the company has appointed M/s A.F. Ferguson & Co. as independent valuers.
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| Jindal Strips Net rises 63.33 %, Second Interim at 10 % |
Jindal Strips Ltd has recorded a 52.84 % increase in the net profit, at Rs 196.70 million, for the quarter ended March 31, 2000 as against Rs 128.70 million in MQ 99. The net sales (excluding Excise Duty) are up by 33.57 % at Rs 3700.80 million. The profits for the year ended March 31, 2000 are Rs 610.20 million, as compared to Rs 373.60 million in the previous financial year, an increase of 63.30 %. The annual sales (excluding Excise Duty) are 21.40 % up at Rs 12.45 billion as against Rs 10.26 billion in the financial year ending March 1999. On the equity capital of Rs 189.20 million the company has reported an annualised EPS of Rs 32.26 for the year 1999-2000. The company has attributed the improved performance to its thrust on value-added exports and increase in global prices of finished steel.
The company has reported that Massilion Stainless Inc., the cold rolling facility in USA has started production from March, 2000. The raw material requirement of this unit is planned to be met by the existing facilities from India, thus, giving a substantial boost to exports in the future. It is also proposed to increase the stake from 51% to 65% during the current year.
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