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April 24, 2000
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| Birla Corp 1999-2000 GP cut down by 70.33 %, Operating surplus at Rs 463.20 million |
Birla Corporation Ltd has declared its Audited results for the quarter and year ended March 31, 2000. The company has trimmed its losses for the year by 28.46% from Rs 536.20 million to RS 383.60 million. The operating surplus for the year is Rs 463.20 million as against Rs 324.80 million in FY 99. The sales for the year are Rs 10.12 billion, an increase of 15.86 % over Rs 8.73 billion of sales generated in FY 99. The Gross loss for the year are down by 70.33% at RS 62.10 million as against Rs 209.30 million in FY 99.
The company incurred a loss of Rs 57.80 million for the quarter ended March 31, 2000 as against Rs 126/- million in MQ 99. The sales for the quarter are up by 24.70 % at Rs 2887.90 million. Other income is Rs 97.50 million (MQ 99 Rs 114.80 million).
The company's unit - Birla Synthetics has been under "Suspension of Work" since November 2, 1998. Due to continuance of unjustified strike by the workers of the Company unit - Birla Jute Mills, which commenced on 22nd March, 2000 and because of persisting problems particularly relating to low productivity in the said mills, the Management of the company was constrained to declare a lock-out of the mill w.e.f 3rd April, 2000.
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| Coates of India declares 52.34% increase in net profit |
Coates of India Ltd has recorded a net profit of Rs 24.42 million for the quarter ended March 31, 2000 as against Rs 16.03 million in MQ 99. The sales are up by 10.86 % at Rs 406.17 million. Other income is Rs 8.96 million (MQ 99 Rs 4.41 million).
Consequent upon the decision of Totalfina to sell off its worldwide inks business to Sun Chemicals Group, B.V. (SCGBV) and upon completion of legal and statutory formalities by SCGBV, the holding of 51% by Coates Bros. Plc is now vested in SCGBV, Coates Bros Plc having become a wholly owned subsidiary of SCGBV and Coates Bros. Plc continues to be a shareholder of the Company. SCGBV in compliance with the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, has made a public offer to the remaining shareholders of the Company, pursuant whereto it now holds 8.42% shares. Consequently holding company's equity in the company now stands increased to 59.42%.
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| Sandesh Ltd announces 20.91 % rise in annual profits, Dividend at Rs 3/- per share |
| Sandesh Ltd has announced a net profit of Rs 153.91 million for the year ended March 31, 2000 as against Rs 127.31 million in FY 99. The sales and other receipts are up by 14.87 % at Rs 1162.15 million. The Board has declared an interim dividend of Rs 3/- per share for the year ended March 31, 2000. |
| Motherson Sumi Board approves merger of Motherson Auto |
| The Board of Directors of Motherson Sumi Systems Ltd at its meeting held today (April 24, 2000) has approved the merger of Motherson Auto Components Engineering Ltd a wholly owned subsidiary of Motherson Sumi Systems Ltd into Motherson Sumi Systems Ltd. |
| TV18 MQ 200 Net profit at Rs 147.90 million, turnover at Rs 100.16 million |
| Television Eighteen India Ltd has announced a net profit of Rs 147.91 million for the quarter ended March 31, 2000 as against Rs 161.40 million for the six months ended on March 31, 1999. The sale for the quarter is Rs 100.16 million. Other income is Rs 179.69 million. Of the other income Rs160.65 million is interest income from share application money. The company has reported that its wholly owned subsidiary Television Eighteen Mauritius Ltd, incurred a loss of US$ 92, 000 for the quarter ended March 31, 2000. The total loss for the 9 months ended on that date is Rs 212,000. The company has appointed M/s Deloitte Haskins and Sells as Statutory Auditors of the company for the year 1999-2000. |
| Atlas Copco MQ 2000 Net profit at Rs 17.60 million, merger with Chicago Pneumatic cleared |
Atlas Copco (India) Ltd has announced a net profit of Rs 17.60 million for the quarter ended March 31, 2000 as against Rs 0.30 million in MQ 99. The sales are marginally up by 0.44 % at Rs 273.70 million. The staff cost has gone down from Rs 29.30 million to Rs 26.70 million. Other income is Rs 0.90 million (MQ 99 Rs 7/- million). The interest charges for the quarter were Nil as compared to Rs 1.4 million in MQ 99. The company has provided Rs 9.50 million for taxation as against Nil in the corresponding quarter of the previous financial year.
The Board of Directors, at their meeting held on April 19, 2000, have approved, in principle, the merger of Chicago Pneumatic India Ltd. with the Company. M/s S.B.Billimoria & Co., Chartered Accountants, have been appointed to carry out a valuation exercise of the shares of both the Companies and to recommend a ratio for exchange of shares of the two Companies.
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| Integra Hindustan net profit up by 23.41 %, Turnover rises 150% |
| Integra Hindustan Control Ltd has announced a net profit of Rs 1.96 million for the quarter ended March 31, 2000 as against Rs 1.59 million in MQ 99. The sales are up by 150.46 % at Rs 35.36 million. Other income is Rs 0.13 million (MQ 99 Rs .01million). The paid up capital of the company as on March 31, 2000 is Rs 11 million. The reserves of the company were Rs 6.80 million as on December 31, 1999. |
| Indo Matsushita incurs net loss of Rs 27.978 million for 1999-2000 |
| Indo Matsushita Appliances Company Ltd has announced a net loss of Rs 27.98 million for the financial year ended March 31, 2000 as against a profit of Rs 2.67 million in FY 99. The sales are down by 26.86 % at Rs 205.07 million. Other income is Rs 2.13 million (FY 99 Rs 2.48 million). The company has recorded a loss of Rs 3.12 million for the quarter ended March 31, 2000, as compared to a loss of Rs 3.34 million in the same quarter of the previous financial year. The paid up capital of the company is Rs 85.70 million and the reserves (excluding revaluation reserves) as on March 31, 2000 stood at Rs 65.09 million. |
| Pitti Laminations trim losses by 50%, reports significant improvement in operations |
| Pitti Laminations Ltd has incurred a net loss of Rs 39.16 million for the financial year ended March 31, 2000 as against Rs 77.78 million in FY 99. The sales are up by 11.49 % at Rs 191.01 million. Other income is Rs 0.24 million (FY 99 Rs 0.39 million). During the year the Company has written-off tools which have become more than 3 years old amounting to Rs.33.14 million net of salvage value. The net operational loss for the year 2000 is Rs. 6.04 million, which is significantly lower than the loss reported up to December 31, 1999. This is primarily due to not capitalizing tool room expenses of the 3rd quarter while publishing the results of that quarter. Another reason for the improved results is a significantly higher level of operations in the last quarter. |
| ZF Steering declares 25% interim dividend |
| The Board of Directors of ZF Steering Gear (India) Ltd at its meeting held on April 23, 2000 has declared an interim dividend at the rate of 25% for the year ended March 31, 2000. The dividend will be payable to members whose names appear on the register of Members of the company as on May 12, 2000. |
| Strike at Cheviot Company called off |
| Cheviot Company Ltd has informed the BSE that the strike called by the workers of the company from March 22, 2000 has been withdrawn with effect from April 23, 2000. |
| Datasoft Application to allot shares on preferential basis |
| The Board of Directors of Datasoft Application Software (Inida) Ltd will meet on April 27, 2000 to consider allotment of equity shares on preferential basis. The allotment is in accordance with the terms of the resolution passed by the members of the company at an EGM held on January 28, 2000. |
| Global Tele-systems 1999-2000 net before extraordinary income rises 74.10%, |
| Global Tele-systems Ltd has recorded a net profit of Rs 1582.50 million for the quarter ended March 31, 2000 as against Rs 267.10 million in MQ 99. The extraordinary income for the quarter is Rs 1174.70 million and is included in the above net profit. Excluding the Extraordinary income the net profit for the quarter is Rs 407.80 million representing a 44.25% increase over Rs 282.70 million earned in the same quarter of the last financial year. The sales are up by 25.85% % at Rs 1990.50 million. Other income is Rs 7.70 million (MQ 99 Rs 4.60 million). The profits for the year ended March 31, 2000 at Rs 2285.20 million are 261.47% higher than the previous year profits of Rs 632.20 million. The annual sales are 16.85% up at Rs 6251.80 million as against Rs 5350.10 million in the financial year ending March 1999. On the equity capital of Rs 434.10 million the company has reported a basic EPS of Rs 25.18 and the diluted earnings is Rs 24.40 per share for the year ending March 31, 2000. The company has reported an operating margin of 33.11% (FY 99 - 23.05%) and a net profit margin of 17.34% (FY 99 -11.65%). The Board of Directors has recommended a dividend of Rs 3/- per share |
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