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May 23, 2000
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| Salora International MQ 2000 Net Profit at Rs 14.25 million |
Salora International Ltd has reported a net profit of Rs 14.25 million for MQ 2000 as against Rs 19.31 million for MQ 99. The sales for MQ 2000 are up 25.04% at Rs 483.46 million. Other income is Rs 4.58 million (MQ Rs 4.07 million). The annual sales are at Rs 1828.33 million for FY 2000 as against Rs 1625.64 million in FY 99. The net profit for the year ended March 2000 is at Rs 94.50 million as against Rs 98.16 million in FY 99 showing a fall of 3.73% over the previous year's figure.
The provision for Income-Tax has increased from Rs 12.02 million in FY 99 to Rs 54.73 million in FY 2000.The company was liable to pay tax under MAT till last year whereas during this financial year it has to pay normal tax of 38.5% under the Income-Tax Act 1961.
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| Floatglass India FY 2000 net loss at Rs 417.44 million |
Floatglass India Ltd has incurred a net loss of Rs 417.44 million for the year ended March 31, 2000 as against a net loss of Rs 348.55 million for FY 99.The annual sales for the year ended March 31, 2000 are Rs 1861.97 million as against Rs 1702.849 million in FY 99. Other income is Rs 3.33 million (FY 99 Rs 3.39 million).
The increase in losses in spite of higher production and sales in mainly due to lower realisation in domestic market on account of competitive pressures and increase in cost of inputs mainly Furnace Oil/LSHS and transportation cost. |
| Esab India net loss at Rs 199.3 million, sales down 21% |
Esab India Ltd has incurred a loss of Rs 199.30 million for the year ended March 31, 2000 as against a profit of Rs 87.10 million in FY 99. The sales for the year are 21.49% lower as compared to last year. The sales stood at Rs 1278.10 million as compared to Rs 1628/- million in last financial year. The company has attributed this abysmal performance to the general sluggishness in the industrial sectors, which uses its products and the massive restructuring and rationalisation programme. Voluntary Compensation and related payments totaling Rs 121.30 million have been charged to Profit and Loss Account during the year, which otherwise would have been amortised over a period of five years as per previous accounting policy. The loss for the year higher by the said amount due to this one time charge.
As a part of its rationalisation programme, the Company has entered into a Sale Agreement for sale of excess vacant land situated at its khardah Factory, West Bengal. The Company also intends to sell its Kalwa unit situated at Thane Maharashtra, subject to finalisation of firm offers and receipt of necessary approvals, permissions, etc. |
| Tata Sponge FY 2000 Net Profit by 79.64% at Rs 93.70 million |
| Tata Sponge Iron Ltd. has announced a net profit of Rs 93.70 million for the year ended March 31, 2000 as against a net profit of Rs 52.16 million for FY 99. Other income for FY 2000 is Rs 42.84 million (FY 99 Rs 35.23 million). The sales for FY 2000 are Rs 1236.53 million as against Rs 945.77 million for FY 99. |
| Mirza Tanners MQ 2000 net profit slides 35%, turnover up by 9% |
Kanpur based Mirza Tanners Ltd has reported a 34.74 % decline in profits for the quarter ended March 31, 2000. The profits stood at Rs 44.90 million as against Rs 68.80 million in MQ 99. The income from operations were however 8.63% higher at Rs 303.50 million as compared to Rs 279.40 million worth sales recorded for the same period in the last financial year. The interest charges and tax provision for the quarter under review were Rs 11.20 million and Rs 2.50 million respectively as against Rs 7.90 million and Rs NIL respectively in MQ 99.
For the year ending March 31, 2000 the company has declared a marginal growth of 2 % in net profits and 21% in income from operations. They stood at Rs 184.30 million (FY 99 Rs 180.60 million) and Rs 1228.10 million (FY 99 Rs 1015/- million) respectively. The company has reported an EPS of Rs 22.64 for the year under review as against Rs 22.19 million in the previous year. The reserves excluding revaluation reserves of the company, as on March 31, 2000 were Rs 547.80 million (March 31, 1999:Rs 438.10 million).
The Board of Directors of the company allotted Bonus shares in the ration of 1:1 to the members of the company as on record date i.e March 22, 2000. |
| Finolex Industries MQ 2000 Net Profit down by 79.01% at Rs 25.62 million |
Finolex Industries Ltd. has announced a net profit of Rs 25.62 million for the quarter ended March 31, 2000 as against a net profit of Rs 122.08 million for MQ 99. Other income for MQ 2000 is Rs 8.30million (MQ 1999 is Rs 24.12 million). The sales for MQ 2000 are Rs 2060.51 million as against Rs 1632.52 million for MQ 99 The profits for the nine months ended March 31, 2000 are Rs 558.98 million, as compared to Rs 245.28 million in the previous period The sales for the nine month ended March 2000 are 21.37% up at Rs 5744.36 million as against Rs 4733.12 million in the previous period.
Due to unforeseen and steep increase in the feedstock prices which was fuelled by all time high rise in oil prices impacted the profitability of the company, as it was considered prudent not to pass on the entire price increase to the customers in the long term interest of business. |
| Prime Securities net profit after tax at Rs 63.30 million |
| Prime Securities Ltd ahs reported a net profit of Rs 63.30 million for the year ended March 31, 2000 as against a loss of Rs 115.20 million for the last financial year. After considering the prior period adjustments (Rs 2.10 million), Extraordinary item -Debt written back (Rs 5.90 million) and taxation provision for earlier year written back (Rs 0.40 million), the net profit for the year is Rs 67.50 million as against a loss of Rs 97.40 million in FY 99. The company's gross revenues for the year were Rs 143.90 million as against Rs 38.80 million in FY 99. The other income for the period under review is Rs 0.90 million (FY 99 Rs 11.60 million). The company has written back Rs 4.50 million NPAs and Rs 2.60 million other write backs during the current year. The diminution in portfolio during the year is Rs 8.20 million. |
| Crompton Greaves MQ 2000 Net Loss at Rs 917.20 million |
| Crompton Greaves Ltd. has announced a net loss of Rs 917.20 million for the quarter ended March 31, 2000 as against a profit of Rs 110.20 million in MQ 99. The sales for MQ 2000 are up by 7.80 % at Rs 6595.40 million. Other income is Rs 75.10 million (MQ 99 Rs 60.70 million). The net loss for the year ended March 31, 2000 is at Rs 1465.70 million, as compared to a net profit of Rs 231.20 million in the previous financial year. The annual sales are at Rs 16745.60 million as against Rs 16824.60 million in the financial year ending March 1999. |
| Everest Organics FY 2000 Net Profit at Rs 23.17 million |
| Everest Organics Ltd. has announced a net profit of Rs 23.17 million for the year ended March 31, 2000 as against Rs 19.29 million in FY 99. The sales for FY 2000 are up by 12 % at Rs 318.47 million. Other income is Rs 2.65 million (FY 99 Rs 3.80 million). |
| Acrysil Ltd sales up by 28%, net profit at Rs 9.9 million |
| Acrysil Ltd an ISO 9002 company has declared its audited financial results for the year ending March 31, 2000. The sales for the year were Rs 132.47 million as against Rs 103.67 million in the last financial year, an increase of 27.78%. The net profit is more or less same at Rs 9.90 million as compared to Rs 9.76 million representing a marginal 1.43% improvement over last financial year. The other income is lower at Rs 3.92 million (FY 99 Rs 12.20 million). The interest charges for the year has reduced from 7.13 million in FY 99 to Rs 4.69 million in the current year. The raw material consumed is higher at Rs 44.98 million against Rs 38.44 million in FY 99. The depreciation charges for the year is Rs 3.19 million (FY 99 Rs3.52 million). |
| GIIC takes possession of Canvay Chemicals factory |
Canvay Chemicals Ltd has informed BSE that, one of the secured creditor viz., GIIC has taken the possession of the factory of the company and the company has to compulsorily close down the production and other related activities immediately.
However, the Board has decided to carry out some other activities in the interest of the shareholders and will think to diversify in some profitable business lines. |
| Lock out lifted at paper plant of Balkrishna Industries |
| Balkrishna Industries Ltd has reached an amicable settlement with the Union and lifted the lockout declared w.e.f. 23.10.1999 at its Paper Plant w.e.f. 18.05.2000. The normal production is expected by first week of June, 2000. |
| Asian Paints to consider Bonus Issue |
| The Board of Directors of Asian Paints Ltd will meet on May 30, 2000 to consider the audited financial results for the year ended March 31, 2000 and to consider issue of Bonus shares. |
| Ganapati Udyog MQ 2000 Net Profit at Rs 3.95 million |
| Ganapati Udyog Ltd. has announced a net profit of Rs 3.95 million for the quarter ended March 31, 2000 on a sales of Rs 2.33 million. Other income is Rs 10.53 million for MQ 2000.The profits for the year ended March 31, 2000 are Rs 2.31 million, as compared to Rs 0.34 million in the previous financial year. The annual sales are 384.79 % up at Rs 18.81 million as against Rs 3.88 million in the financial year ending March 1999.The other income is Rs 10.87 million for FY 2000 as against Rs 0.05 million for FY 99. |
| Associated Profiles Director resigns |
| Shri A L Roongta has resigned from the directorship of Associated Profiles & Aluminium Ltd. The Board of Directors of the company has accepted the same in their meeting held on May 22, 2000. |
| G G Dandekar Machine MQ 2000 Net Profit at Rs 12.74 million |
| G G Dandekar Machine Works Ltd. has announced a net profit of Rs 12.74 million for the quarter ended March 31, 2000 as against Rs 9.67 million in MQ 99. The sales for MQ 2000 are up by 40.45 % at Rs 33.13 million. Other income is Rs 4.91 million (MQ 99 Rs 8.69 million). The profits for the year ended March 31, 2000 are Rs 32.51million, as compared to Rs 29.23 million in the previous financial year. The annual sales are 12.04 % up at Rs 130.98 million as against Rs 116.91million in the financial year ending March 1999. |
| Jenson & Nicholson MQ 2000 Net Profit at Rs 27.22 million |
| Jenson & Nicholson (India) Ltd. has announced a net profit of Rs 27.22 million for the quarter ended March 31, 2000 as against Rs 27.79 million in MQ 99. The sales for MQ 2000 are down by 1.81 % at Rs 406.65 million. Other income is Rs 9.39 million (MQ 99 Rs 19.42 million). The profits for the year ended March 31, 2000 are Rs 50.04 million, as compared to Rs 48.58 million in the previous financial year. The annual sales are down by 1.82% at Rs 1617.80 million as against Rs 1647.77 million in the financial year ending March 1999. |
| State Bank of Bikaner FY 2000 Net Profit up 31.06% at Rs 1204.20 million |
State Bank of Bikaner & Jaipur has announced a net profit of Rs 1204.20 million for the year ended March 31, 2000 as against Rs 918.80 million in FY 99. The interest earned for FY 2000 is up by 15.78 % at Rs 11159.80 million as against Rs 9638.50 million in FY 99. Other income is Rs 2200.70 million (FY 99 Rs 1636/- million).
The bank has proposed a dividend of Rs 30 per share on the face value of Rs 100 per share subject to the approval of RBI. The provision & contingencies have increased from Rs 929/- million in FY 99 to Rs 1174.60 million in FY 2000.
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