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May 29, 2000
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| Aplab Board approves proposal for preferential allotment of equity shares to Zee Telefilms
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| The Board of Directors of Aplab Ltd at its meeting held today (May 29, 2000) has approved the proposal for preferential allotment of 13,21,200 fully paid-up equity shares to Zee Telefilms Ltd at a price of Rs 90/- per equity share. The allotment will be subject to the consent of shareholders at a general meeting scheduled to be held on June 29, 2000.
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| Eicher Motors net profit rises 103%, turnover up by 30%
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| Eicher Motors Ltd has announced a 103% growth in the net profits for the year ended March 31, 2000. The company posted a net profit of Rs 158.60 million on net sales of Rs 3109.50 million. The gross sales (including Excise Duty) were Rs 3519.40 million compared to Rs 2671.50 million recorded in the previous year. On the equity share capital of Rs 200 million the company has reported earnings of Rs 8 per share. While the interest charges reduced from Rs 58.30 million in FY 99 to Rs 40.50 million, the depreciation charges were higher at Rs 47.50 million compared to Rs 40.70 million charged to revenue in FY 99. The Board of Directors of the company had earlier declared an interim dividend at the rate of 20%. They have not recommended any further dividend for the year.
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| Eicher FY 2000 net profit down by 46.09% at Rs 157.20 million
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Eicher Ltd has reported a net profit of Rs 157.20 million for the year ended March 31, 2000 as compared to Rs 291.60 million for FY 99. The sales for FY 2000 are down by 4.13% at Rs 5644.20 million. Other income is Rs 47/- million (FY 99 Rs 37.30 million).
The new state-of-the art motorcycle manufacturing plant at Jaipur has commenced commercial production on January 1, 2000.
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| Timken India MQ 2000 net profit up by 118%, turnover up 14%
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| Timken India Ltd, a subsidiary of the Timken Company has reported a 118% growth in its profits for the quarter ended March 31, 2000. The profits for the year ending on the same date were 109% higher than that recorded in FY 99. With this the company wiped off its entire accumulated losses, which stood at Rs 126.90 million as on March 31, 1999. The company recorded a net profit of Rs 66.67 million on a turnover of Rs 418.16 million for the quarter ended March 31, 2000. For the year 1999-2000 the profits were Rs 152.04 million on an operating income of Rs 1469.73 million. The operating income displayed a 14.27% and 15.27% growth for the quarter and year ending March 31, 2000 respectively over the corresponding periods of the last financial year.
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| TELCO records net profit of Rs 712 million in FY 2000
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The Tata Engineering & Locomotive Co. Ltd has declared a net profit of Rs 712 million for the year ending March 31, 2000. The company recorded a sale of Rs 87917.90 million and other income of Rs 1712.30 million during the year as against Rs 65429.10 million and Rs 510.40 million respectively in the previous year. Thus the total income is 36% higher than that recorded last year. The profit before tax was Rs 752 million as compared to Rs 1071. 60 million for the previous year. This profits included Rs 1343.40 million profits on sale of its machine and Tool, Heavy Transmission businesses (previous year included Rs 1023.80 million on sale of the construction equipment division). After a tax charge of Rs 40 million the profit after tax was Rs 712 million (previous year Rs 974.60 million).
The interest and depreciation charges increased from Rs 3095.70 million and Rs 2813.20 million respectively in FY 99 to Rs 4047.40 million and Rs 3426.10 million respectively in FY 2000. The company's equity share capital and reserves excluding the revaluation reserves as on March 31, 2000 stood at Rs 2559 million and Rs 35762.50 million respectively.
The company's major investments in the new car facilities adversely impacted its profitability, as is the case in any fully integrated car activity during the ramp up period. The company's production of Tata Indica increased steadily during the year but did not reach the break-even level, which the company expects to reach by the end of 2000-01.
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| Amex Information MQ 2000 net profit at Rs 9.47 million
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Amex Information Technologies Ltd has announced a net profit of Rs 9.47 million for the quarter ended March 31, 2000 as compared to Rs 8.51 million for MQ 99.The sales for MQ 2000 are up by 28.77% at Rs 44.10 million. Other income is Rs 2.22 million (MQ 99 Rs 0.18 million)
The profits for the year ended March 31, 2000 are Rs 38.70 million as compared to Rs 22.32 million for FY 99.The sales for FY 2000 are up by 71.33% at Rs 145.40 million. Other income is Rs 3.52 million (FY 99 Rs 0.20 million).
The company has acquired substantial interest in the Equity share capital of M/s Vishal Information Technologies Ltd a 100% EOU under the Software Technology Park Scheme. The Board has recommended a final dividend @17.5% on the equity shares of the company for the year 1999-2000.With this the total dividend for the year including the interim dividend @12.5% p.a. declared by the board in its meeting held on 28th January 2000 comes to 30%.
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| BPCL FY 2000 turnover rises 55%, net profit at Rs 7.04 billion, dividend at 125% |
Bharat Petroleum Corporation Ltd (BPCL) has announced a net profit of Rs 7.04 billion for the year ended March 31, 2000 as against Rs 7.01 billion in FY 99. The sales for the year were Rs 333.85 billion, 54.56% higher than Rs 216 billion achieved in FY 99. The other income reduced from Rs 1.80 billion in FY 99 to Rs 1.48 billion in FY 2000. The depreciation charges has risen significantly from Rs 4 billion in FY 99 to Rs 6.2 billion in FY 2000, an increase of 52%. The profits were however down by 171.34 million due to change in the method of valuation of inventories in accordance with the revised AS-2 issued by the Institute of Chartered Accountants of India.
In line with the trend achieved during the previous years, the market sales of BPCL registered a significant growth of 7.8% during 1999-2000. The sales increased to 18.86 million tonnes from 17.50 million tonnes during the previous year. The increase in sales of major products was - Liquefied Petroleum Gas by 18.2 %. Motor Spirit by 8.5% High Speed Diesel by 5.6%, Furnace oil by 22.4% and Naphtha by 20.0%.
Refinery at BPCL continued to perform well with crude throughput of 8.87 million tonnes during the current year as against 8.94 million tonnes in the previous year despite planned shutdown of major units of the Refinery during October - November 1999.
Though the gross profit before depreciation, interest and tax registered a growth of 11.6% during the current year the profit after tax was marginally higher by Rs 26 million. The company has attributed the lower growth in profits in the current year mainly to lower refiners margin, non updation of marketing margins and higher procurement of LPG cylinder during the current year, which have being depreciated at 100% (Rs 3.82 billion) to meet enhanced enrollment targets.
The Board of Directors of BPCL has recommended a dividend of 125% for the year. The dividend works out to Rs 2.29 billion including tax on dividend.
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| Apollo Tyres FY 2000 net profit up by 144.72% at Rs 760.60 million
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| Apollo Tyres Ltd has reported a net profit of Rs 760.60 million for the FY 2000 as compared to Rs 310.80 million FY 99. The Total Income for FY 2000 is up by 18.94% at Rs 13702.30 million. The interest expense has declined from Rs 589.70 million in FY 99 to Rs 413.40 million in FY 2000.
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| United Western Bank declares bonus issue, rights issue
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The Board of Directors of United Western Bank Ltd has proposed to issue Bonus Shares in the ratio of 1:5 followed by issue of Rights shares in the ratio of 1: 2 at a price of Rs 20/- per share.
The Board has applied for approval of Reserve Bank of India for the proposed Bonus-Cum-Rights Issue and the approval is awaited.
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| Cochin Refineries MQ 2000 net profit down by 55.20% at Rs 672.10 million |
Cochin Refineries Ltd has announced a net profit of Rs 672.10 million for the quarter ended March 31, 2000 as compared to Rs 1500.30 million for MQ 99.The sales for MQ 2000 are up by 48.05% at Rs 18191.30 million. Other income is Rs 369.30 million (MQ 99 Rs 416.70 million).
The profits for the year ended March 31, 2000 are at Rs 2352.10 as compared to Rs 3382.30 million for FY 99.The sales for FY 2000 are higher by 38.57% at Rs 57749.90 million. Other income is Rs 936.40 million (FY 1999 Rs 956.20 million)
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| Centak Chemicals MQ 2000 net profit down by 20%, sales decline 25% |
Centak Chemicals Ltd has declared a net profit of Rs 22.70 million for the year ended March 31, 2000 as against Rs 28.40 million declared for the same period last year. The sales are 25% lower at Rs 64.60 million as compared to Rs 86.10 million in MQ 99. The other income for the quarter is Rs 10.70 million ( MQ 99 RS 6.70 million).
For the year ended March 31, 2000 the company has recorded profit of Rs 79.50 million on a sales of Rs 256.70 million. The company had earned a profit of Rs 77.90 million and sales of Rs 236.40 million in FY 99. The other income for the current year is Rs 31.70 million (FY 99 Rs 26.70 million). The company has reported a basic earning of Rs 16 for the year ending March 31, 2000.
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| Atlas Cycle MQ 2000 net profit up by 66.67% at Rs 26/- million |
Atlas Cycle Industries Ltd has reported a net profit of Rs 26/- million for the quarter ended March 31, 2000 as compared to Rs 15.60 million for MQ 99. The sales for MQ 2000 are up by 9.97% at Rs 940.50 million. Other income is Rs 10.10 million (Rs 9.50 million for MQ 99).
The profits for the year ended March 31, 2000 are Rs 92.30 million as compared to Rs 69.20 million for FY 99.The sales have increased from Rs 3273.80 million in FY 99 to Rs 3751.20 million in FY 2000. Other income is Rs 26.50 million (FY 99 Rs 26.10 million). |
| JMT Auto net profit rises 125%, turnover up by 45% |
| Calcutta based JMT Auto Ltd has recorded a sale and income from operation of Rs 282.34 million representing a 45.25% growth over Rs 194.38 million recorded the previous year. This has resulted in the profits growing by 125% from Rs 17.02 million in FY 99 to Rs 38.28 million in FY 2000. While the other income grew 67.36% from Rs 0.58 million in FY 99 to Rs 0.96 million in FY 2000 the interest expenditure has declined 10.44% from Rs 19.26 million in FY 99 to Rs 17.24 million in FY 2000. However the company has not provided for tax for the current year as against Rs 2 million provided last year. |
| Krebs Biochemcals MQ 2000 net profit up by 211% sales rise 160% |
Hyderabad based Krebs Biochemcials Ltd has registered a 211.49% growth in the profits for the quarter ended March 31, 2000. The profit for the quarter is Rs 40.06 million as against Rs 12.86 million in the same quarter of the previous financial year. The sale for the period is 159.53% higher at Rs 146.71 million as against Rs 56.53 million in MQ 99. The depreciation charge has also gone up from Rs 7.91 million in MQ 99 to Rs 13.29 million in the current quarter.
For the year ended March 31, 2000 the sales have gone up from Rs 281.20 million in FY 99 to Rs 413.11 million in FY 2000. Though the sales have shown a growth of 46.91% for the year, the profits have grown only by 15.43% from Rs 112.71 million in FY 99 to Rs 130.11 million in FY 2000. The gross profit for the year is up by 32% at Rs183.65 million.
The Board has recommended a dividend of 50% for the FY 1999-2000. The Book Value per share is Rs 108.89 as on March 31, 2000 as against Rs 76.57 as on March 31, 1999. The copmany has reported an annualised EPS of Rs 27.51 for the year.
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| Premier Tyres MQ 2000 net profit at Rs 53.60 million |
Premier Tyres Ltd has reported a net profit of Rs 53.60 million for the quarter ended March 31, 2000 as compared to Rs 8.60 million for MQ 99.The sales for MQ 2000 as well as MQ 99 are nil. Other income for MQ 2000 is Rs 55.10 million (MQ 99 Rs 9.60 million). The profits for the year ended March 31, 2000 are Rs 66.60 million as compared to Rs 25/- million for FY 99.Sales for FY 2000 as well as FY 99 are nil. Other income is Rs 74.10 million for FY2000 (FY 99 Rs 34.90 million).
Other income includes Lease Rentals received from Apollo Tyres Ltd and reversal of provision for excise liability made in earlier years amounting to Rs 49.40 million. The plant was under lockout for 93 Days from 25th Dec 1999 to 26th March 2000 due to labour unrest.
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| Mahindra & Mahindra to consider ESOPs |
| The Board of Directors of Mahindra & Mahindra Ltd will consider a Stock Option Scheme for the employees of the company at its Board Meeting to be held on May 30, 2000. |
| Nicholas Piramal denies newspaper reports |
| Nicholas Piramal India Ltd has clarified on news item appearing in "Financial Express" edition dated May 29, 2000 regarding Piramals may pick up Ambalal Sarabhai's stake in the joint venture Sarabhai Piramal Pharmaceuticals Ltd. At present Nicholas Piramal and Ambalal Sarabhai hold 50%each in the joint venture. The company has written to the BSE that there is no such proposal before the Board of the two partners. |
| L G Balakrishnan FY 2000 net profit down by 22.96% at Rs 36.56 million |
| L G Balakrishnan & Bros Ltd has reported a net profit of Rs 36.56 million for the year ended March 31, 2000 as compared to Rs 47.46 million for FY 99.The sales for FY 2000 are marginally by 2.93% at Rs 1722.50 million. Other income is Rs 9.81million (FY 99 Rs 10.72 million) |
| Dev Fasteners FY 2000 net loss at Rs 20/- million |
| Dev Fasteners Ltd has reported a net loss of Rs 20/- million for the year ended March 31, 2000 as compared to a net loss of Rs 37.90 million for FY 99.The sales for FY 2000 are higher by 39.10% at Rs 197.80 million. Other income is Rs 0.50 million for FY 2000(FY 99 Rs 0.50 million). |
| EIH Ltd net profit down by 25%, net sales decline 4% |
| EIH Ltd, a member of the Oberoi Group has recorded a 24.83% decline in its net profits for the year ended March 31, 2000. The company recorded a net profit of Rs 724.70 million on sales of Rs 4210.90 million for the year ended March 31, 2000. The sales and profit of the company for the year ended March 31, 1999 was Rs 4405.10 million and Rs 964.10 million respectively. The gross profit for the year was 17% lower at Rs 1075 million as against Rs 1296.50 million in the previous year. |
| NG Industries FY 2000 net profit improves 44% at Rs 8.20 million |
NG Industries Ltd has announced a net profit of Rs 8.20 million on a turnover of Rs 37.97 million for the year ended March 31, 2000. The income from operations and profits for the year ended March 31, 1999 were Rs 27.48 million and Rs 5.69 million respectively. This represents a 44.14% growth in net profits and a 38.16% improvement in the income from operations over FY 99. The provision for taxation is also higher by 128.23% at Rs 4.07 million as against Rs 1.78 million provided last year.
The company has incurred a net loss Rs 1.38 million for the quarter ended March 31, 2000 as opposed to a profit of Rs 0.60 million in MQ 99. Though the Profits before taxation is 12.68% higher at Rs 2.68 million (MQ 99 Rs 2.38 million), a 128% increase in tax provision during the quarter has eroded the profits for the quarter. The sales for the said fourth quarter is 28.48% higher at Rs 9.72 million compared to Rs 7.57 million in MQ 99.
The Board has recommended that the interim dividend of Rs 2 per share (20%) declared earlier be taken as final dividend for 1999-2000.
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| Himalya International MQ 2000 net profit at Rs 6.34 million on income of Rs 31.49 million |
New Delhi based 100% EOU Himalya International Ltd has declared its audited results for the financial year and quarter ended March 31, 2000. The company has earned a net profit of Rs 6.34 million on an income of Rs 31.49 million for the quarter ending March 31, 2000 representing a 325% growth in net profit and 45% increase in the income over that recorded in the same period of previous financial year. The income for the quarter includes receipts of Rs 6.51million and net profit includes Rs 2.73 million from the Infotec Division of the company.
The profits for the year ending on the same day were Rs 20.20 million as against a loss of Rs 2.88 million in previous year. The income for the year was Rs 121.33 million as compared to Rs 69.88 million in FY 99, an increase of 73.62%. Interest amounting to Rs 1.83 million pertaining to chemical division of the company is not provided during the current year as the Company is making settlement with state financial institutions. |
| BSE Imposes 25% special margin on eleven companies |
The Stock Exchange, Mumbai has imposed a special margin at the rate of 25% on the following eleven companies with effect from May 29, 2000.
SR. No SCRIP Code SCRIP NAME GROUP
1 36 BALAJI INDUSTRIIAL CORPORATION B1
2 31707 BEST MULYANKAN CONSULTANTS B2
3 32321 CADILA HEALTHCARE B1
4 31870 MANSUKHBHAI FINANCIAL SERVICES B2
5 31417 MEGA CORPORATION B2
6 32089 MOH GRANITES Z
7 26411 MOVILEX IRRIGATION B2
8 31903 NATIONAL FLASK B2
9 32106 REI AGRO B2
10 23033 SOUNDCRAFT INDUSTRIES B1
11 12493 YASHODHAN COMMERCIAL B2 |
| Maharashtra Elektrosmelt net loss increases 46% |
| Maharashtra Elektrosmelt Ltd a subsidiary of Steel Authority of India Ltd has incurred a loss of Rs 160.98 million for the year ended March 31, 2000. This represents a 45.74% increase in the loss over Rs 110.46 million registered in FY ending March 31, 1999. The company has recorded a 7% growth in sales that stood at Rs 1692.58 million for the year 1999-2000 as compared to Rs 1581.40 million in FY 99. While the depreciation charge for the year was more or less same as last year at Rs 14.52 million, the interest expenditure was 78.21% higher at Rs 87.69 million as against Rs 49.21 million in FY 99. During the year 1999-2000 the equity share capital has increased from Rs 100 million to Rs 240 million as it stood on the last day of the current financial year. |
| Aurobindo Pharma net profit rises 49%, turnover up by 35% |
| Hyderabad based Aurobnido Pharma Ltd has registered a 49% growth in the net profits for the year ended March 31, 2000. The profits for the year were Rs 746 million as against Rs 501.40 million in the last financial year. The sales and income from operations for the year under review were 34.52% higher at Rs 7399 million compared to Rs 5500.30 million recorded in year ended March 31, 1999. The other income at Rs 35.90 million is 28.67% higher then Rs 27.90 million registered in the previous year. The depreciation charges for the year was 95.20 million as against Rs 62.90 million in FY 99. The interest expenditure is also higher at Rs 252.30 million (Rs 171 million in FY 99). The Board has confirmed the interim dividend of 50% for the year 1999-20000 as the total dividend for the year. |
| Infosys approves grant of 642,550 options to 4,221 employees under 1999 option plan
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| The Compensation committee of the software major Infosys Technologies Ltd met on May 27, 2000 and approved the grant of 642,550 options to 4,221 employees under the 1999 Options Plan of the company. In addition the committee approved the grant of 101,400 options to 43 employees under the 1998 ADS Linked Option Plan.
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| City Union Bank revokes interim dividend of 22%
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| The Board of Directors of City Union Bank Ltd at its meeting held on May 27, 2000 has decided to revoke the interim dividend of 22% recommended by the Bank for the financial year 1999-2000. Thus no interim dividend shall be paid to the members of the bank for the year 1999-2000. The Board had recommended the now revoked interim dividend at its meeting held on April 27, 2000.
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