Polaris Software Q4 net down by 12.34%, FY-02 net up by 2.57%

Polaris Software Lab Ltd has posted a net profit of Rs 160.14 million for the quarter ended March 31, 2002 as compared to Rs 182.68 million in the corresponding period last fiscal. Total Income has decreased from Rs 784.11 million in the quarter ended March 31, 2001 to Rs 679.7 million in the quarter ended March 31, 2002. The company has posted a net profit of Rs 616.49 million for the year ended March 31, 2002 as compared to Rs 601.04 million for the previous year ending March 31, 2001. Total Income has increased from Rs 2696.73 million in the financial year ended March 31, 2001 to Rs 2839.38 million in the year ended March 31, 2002. The Board of Directors at their meeting proposed a dividend of 35% (Rs 1.75 per share) for the year subject to the deduction of tax at source and subject to the approval of the shareholders at the Annual General Meeting.

Polaris Software Group results as per Indian GAAP

Polaris Software - Group has posted a net profit of Rs 588.57 million for the financial year ended March 31, 2002 as compared to Rs 596.67 million for the corresponding period last fiscal .The total revenue has increased from Rs 2825.09 million in FY-01 to Rs 2938.03 million in FY-02. The net profit for MQ 2002 is Rs 140.72 million as compared of Rs 191.60 million for MQ 2001. The total revenue has decreased from Rs 833.31 million in MQ 2001 to Rs 690.41 million in MQ 2002.

Polaris Software announces outlook for FY 2002-2003

Polaris Software Labs Ltd remains confident of the strategic roadmap it has chartered for itself, using key growth levers of domain knowledge, technology platform expertise, re-usable components, scientific sale process methodologies and enhanced delivery capabilities to move itself into the next orbit of growth. Topped by clarity of focus on best processes, best people, best infrastructure and best leadership, Polaris is poised to move into the Tier-1 platform and consolidate its global position through premium client relationships. "Polaris is targeting to achieve 50% growth in FY-03. Of this 17% to 25% will come from leveraging existing and prospective business and products business. The remaining may come from seizing inorganic growth opportunities. The Board of the company has approved to actively consider M&A deals and a formal announcement on this may be expected at the appropriate time. The past year has been challenging. But the new one will be decisive and we will grow our business significantly", added Arun Jain.

SCI to declare interim dividend

Shipping Corporation of India Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on April 30, 2002 for declaration of interim dividend for the year 2001-2002.

Reliance Capital Q4 net down by 6.36%, FY-02 net up by 8.31%

Reliance Capital Ltd has posted a net profit of Rs 257.5 million for the quarter ended March 31, 2002 as compared to Rs 275 million in the corresponding period last fiscal. Total Income has increased from Rs 1297 million in the quarter ended March 31, 2001 to Rs 1388.70 million in the quarter ended March 31, 2002. The company has posted a net profit of Rs 1012.20 million for the year ended March 31, 2002 as compared to Rs 934.50 million for the previous year ending March 31, 2001. Total Income has increased from Rs 4922 million in the financial year ended March 31, 2001 to Rs 5485.9 million in the year ended March 31, 2002. The Board of Directors have recommended a dividend @ Rs 2.90 per equity share for the year 2001-02. During the year there has been a change in the basis of providing depreciation from straight-line method (SLM) to written down value (WDV) method in respect of buildings. The profit for the current year would have been higher by Rs 55 million had there been no change in the method of providing depreciation

German Remedies FY-02 net down by 24.58%

German Remedies Ltd has posted a net profit of Rs 249.10 million for the year ended March 31, 2002 as compared to Rs 330.3 million for the previous year ending March 31, 2001. Total Income (net of excise) has decreased from Rs 2048.10 million in the financial year ended March 31, 2001 to Rs 2005.40 million in the year ended March 31, 2002. The Board of Directors has recommended dividend of 80% for the Financial Year 2001-02.

Saurashtra Cement to consider allotment of OCCPS/Loan Instruments

Saurashtra Cement Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on April 30, 2002 to consider and approve unaudited results for the third quarter ended March 31, 2002. Further the Company has informed that the Board would also consider allotment of OCCPS/Loan Instruments in lieu of 75% net unpaid interest till the date of maturity ie November 11,2000 and November 22, 2000 on 18% debentures to those debenture holders who have concurred with the proposal.

Jindal Steel & Power FY 02 results by June 30, 2002

Jindal Steel & Power Ltd has informed BSE that the Company will publish audited results within a period of 3 months i.e. on or before June 30, 2002 of the financial year i.e. 2001-2002. Accordingly, the Unaudited Financial Results (Provisional) for the last quarter ended March 31, 2002 will not be taken on record.

HPCL FY-02 results by June 30, 2002

Hindustan Petroleum Corporation Ltd (HPCL) has informed BSE that the company will consider the audited financial results for the year ended March 31, 2002 by June 30, 2002. Accordingly the results for the quarter ended March 31, 2002 will not be published.

Zee Telefilms FY-02 results on April 29, 2002

Zee Telefilms Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on April 29, 2002 to transact inter alia the following business: 1. To consider and take on record the unaudited financial results for the fourth quarter & year ended March 31, 2002. 2. To consider and approve increase in limit of investment of FIIs from present 30% to 49%

BILT Q3 net down by 15.21%

Ballarpur Industries has posted a net profit of Rs 173.40 million for the quarter ended March 31, 2002 as compared to a net profit of Rs 204.50 million for the quarter ended March 31, 2001. Total Income (net of excise) has decreased from Rs 3496.10 million in the quarter ended March 31, 2001 to Rs 3494.80 million in the quarter ended March 31, 2002.

Atlas Copco enters into agreement for sale of shares of Revathi Equipment

Atlas Copco India Ltd has entered into definitive agreement with Utkal Investments Ltd, for sale of 3,20,200 equity shares of Revathi Equipment Ltd Coimbatore at a price of Rs 234 per share. The share purchase agreement also envisages execution of Non-Compete Agreement at closing for the sum of Rs 100 million to be received by the Company in terms of the provisions of the Non-Compete Agreement.

Novartis FY-02 results on April 30, 2002

A meeting of the Board of Directors of Novartis India Ltd will be held on April 30, 2002 to consider: 1. Adoption of Annual Accounts for the year ended March 31, 2002. 2. Recommendation of dividend for the year ended March 31, 2002.

Max India Board approves spin off of its healthcare division into a wholly owned subsidiary

Max India Ltd has informed BSE that the Board of Directors at its meeting has approved the following: 1. Spin off of its healthcare division into a wholly owned subsidiary. 2. In view of the above, the unaudited financial results for the quarter/year ended March 31, 2002 will be considered for approval on or before April 30, 2002. For this purpose, a Board meeting has been convened on April 29, 2002, and 3. Divestment of balance 5% holding of the Company in DSM Anti-Infectives India Private Ltd (formerly known as Max-GB Ltd) in favour of its joint venture partner, Gist Brocades International B.V.

Titan Industries to temporarily suspend manufacturing operations in jewellery plant at Hosur

Titan Industries Ltd has informed BSE that the jewellery business of Titan Industries Ltd is seasonal. While demand, and hence the load on the jewellery factory, is expected to be high in the second and third quarters of this financial year (Q2 and Q3), this is not so in the current quarter (Q1) during which the load is low. In view of the low load, the Company has decided to temporarily suspend manufacturing operations at the jewellery plant in Hosur for eleven working days during the period April 22, 2002 to May 04, 2002. Regular operations will recommence from May 06, 2002.

BSE revises Special Margin on 65 scrips

BSE has informed the members of the exchange that that the following scrips will attract Special Margins as indicated hereunder with effect from today (April 22, 2002). The rates of Special Margins have been revised keeping in view the closing price of the scrip on the last day of the settlement. Special margins will be imposed on the basis of memberwise gross purchase or sales position (clientwise net) as indicated below: CODE NAME GROUP PER SHARE (PURCHASE)(%) 530707 AFTEK INFOSYS B1 25 512289 AGEE GOLD B2 25 532311 AMEX INFORMATIO B2 25 505010 AUTO AXLES B1 25 532161 BAFFIN ENGINEER B2 25 523319 BALMER LAWRIE B1 25 500064 BIRLA GLOBAL B1 25 532346 BLUE STAR B1 25 517544 C MAC CENTUM B1 25 523207 CAMLIN B1 25 513353 COCHIN REFINERY B2 25 532419 D LINK INDIA B1 25 500117 DCW B2 25 523618 DREDGING CORP B1 25 509028 E SERVE IN B1 25 506156 ETC NETWORKS B2 25 532084 FAST TRACK FIN B2 25 531599 FDC B1 25 526881 FINANCE TECH B2 25 532326 FORTUNE INFO B2 50 503699 GEODESIC INF B2 25 532312 GEOMETRIC SOFT B1 25 532439 GOLDSTONE TECH B2 25 514043 HIMAT SIEDE B1 25 500185 HIND CONSTRUC B1 25 500207 INDO RAMA SYN B1 25 532010 INDOTECH CAPITA B2 25 532175 INFOTECH ENTERP B1 50 511116 INVEST TRUST B1 25 524494 IPCA LABORATOR B1 25 531816 IT MICROSYSTEM B2 25 506943 J B CHEMICALS B1 25 500247 KOTAK MAHINDRA B1 25 532400 KPIT INFOSYSTEM B1 25 524518 KREBS BIOCHEM B1 25 520061 LAKSHMI AUTO B1 25 532337 MASCOT SYSTEM B1 25 532307 MELSTAR INFOR B1 25 526299 MPHASIS BFL B1 25 504112 NELCO B1 25 531209 NUCLEUS SOFTWAR B1 25 520021 OMAX AUTOS B1 50 531167 ORIENT INFOR B1 25 532350 PADMALAYA TELE B1 25 532165 RANSI SOFTWARE B2 25 511076 SAT INVESTMENT B2 50 531773 SHALIBHADRA FIN B2 25 532361 SHAPRE GLOBAL B2 25 530943 SRI ADHIKARI BR B1 25 532348 SUBEX SYSTEM B1 25 500405 SUPREME PETRO B1 25 531764 SUPREME TELE B2 25 504290 TATA INFOTEC B1 25 500463 TATA TELECOM B1 25 532358 TELE DATA INF B2 25 532375 TIPS INDUSTRIES B1 25 531830 TODAY'S WRITING B2 25 531554 TOP TELEMEDIA B2 25 500423 TVS ELECTRONICS B1 25 531216 UTTAM STEEL B2 25 511110 V B DESAI B2 25 530769 VEL SOFTWARE B2 25 532214 VISUAL SOFTWARE B1 25 504067 ZENSTAR TECHNOL B1 25 531404 ZICOM ELECTRONI B2 25

United Breweries Q4 results on April 30, 2002

A meeting of the Board of Directors of United Breweries Ltd will be held on April 30, 2002, inter alia, to take on record Unaudited Financial Results of the Company for the Quarter ended March 31, 2002.

India Sugars Board to consider issue of further equity shares to promoters

India Sugars & Refineries Ltd has informed BSE that a meeting of the Board of Directors of the Company is scheduled to be held on May 03, 2002 to consider the following: 1. Unaudited financial results of the Company for the second quarter ended March 31, 2002 and the half-year ended March 31, 2002. 2. Increase in the authorised share capital of the Company and issue of further equity shares to the promoters of the Company pursuant to the scheme of rehabilitation sanctioned by the BIFR.

e. Star Infotech FY-02 net up by 71.74%

e.Star Infotech Ltd has posted a net profit of Rs 39.92 million for the year ended March 31, 2002 as compared to Rs 23.25 million in the year ended March 31, 2001. Total Income for the year ended March 31, 2002 is at Rs 171.57 million as compared to Rs 107.34 million in FY-01. The company has posted a net profit of Rs 10.14 million for the quarter ended March 31, 2002 on a total income of Rs 47.35 million for the quarter ended March 31, 2002. Share of the company were listed in April 2001 hence previous period figures not applicable.

Model Financial Corp. to seek shareholders approval for scheme of arrangement

Model Financial Corporation Ltd has informed BSE that the Hon'ble High Court at Hyderabad has directed company to hold a General Meeting of shareholders on April 29, 2002 and meeting of Bond holders on April 29, 2002 for getting their approval for scheme of arrangement of the company with M/s.Model Chit Corp. Ltd.

Hughes Tele. Com clarifies on news item

With reference to a news item appearing in a leading financial daily quoting "Hughes courts Tatas again, also talks to Reliance Info" Hughes Tele.com India Ltd has informed BSE that the Board of Directors has not initiated any discussions for merger or combination.

Cipla Q4 results on April 29, 2002

Cipla Ltd has informed BSE that a meeting of the Board of Directors of the Company is scheduled to be held on April 29, 2002 to consider inter alia unaudited financial results for the fourth quarter ended March 31, 2002.

Indo Gulf Corporation FY-02 results on May 04, 2002

e. Star Infotech Ltd has posted a net profit of Rs 39.92 million for the year ended March 31, 2002 as compared to Rs 23.25 million in the year ended March 31, 2001. Total Income for the year ended March 31, 2002 is at Rs 171.57 million as compared to Rs 107.34 million in FY-01. The company has posted a net profit of Rs 10.14 million for the quarter ended March 31, 2002 on a total income of Rs 47.35 million for the quarter ended March 31, 2002. Share of the company were listed in April 2001 hence previous period figures not applicable.

Gujarat Ambuja Cements Q3 net down by 9.27%

Gujarat Ambuja Cements Ltd has posted a net profit of Rs 543.80 million for the quarter ended March 31, 2002 as compared to a net profit of Rs 599.40 million for the quarter ended March 31, 2001. Total Income (net of excise) has increased from Rs 3445.60 million in the quarter ended March 31, 2001 to Rs 3817.50 million in the quarter ended March 31, 2002. The construction work on the new cement plant at Chandrapur, Maharashtra has been completed and the plant is under trial operations. It is expected to commence commercial production soon.

VisualSoft Technologies Q4 net down 58.94 %, FY-02 net down by 58.89 %

VisualSoft Technologies Ltd has posted a net profit of Rs 64.37 million for the quarter ended March 31, 2002 as compared to Rs 156.78 million in the corresponding period last fiscal. Total Income has decreased from Rs 345.21million in the quarter ended March 31, 2001 to Rs 275.43 million in the quarter ended March 31, 2002. The company has posted a net profit of Rs 253.96 million for the year ended March 31, 2002 as compared to Rs 617.81 million for the previous year ending March 31, 2001. Total Income has decreased from Rs 1356.02 million in the financial year ended March 31, 2001 to Rs 1080.72 million in the year ended March 31, 2002.

Kodak Q1 results on April 30, 2002

A meeting of the Board of Directors of Kodak India Ltd will be held on April 30, 2002 to take on record the un-audited results for the quarter ended March 31, 2002.

Shareholders of Gulf Oil approve merger with IDL Industries

The meeting of the shareholders of Gulf Oil India Ltd was held today (April 22, 2002) and shareholders have approved the scheme of amalgamation with IDL Industries with swap ratio of 2 (two) shares of Gulf Oil India for One Share of IDL Industries Ltd.

Nirma FY-02 results by June 30, 2002

Nirma Ltd has informed BSE that the Company will be publishing the audited financial results for the year ended March 31, 2002 and a meeting of the Board of Directors of the Company will be held to consider said results within the time period available ie June 30, 2002.

Hughes Software Q4 net down by 42.53%, FY-02 net down by 17.01%

Hughes Software Systems Ltd has posted a net profit of Rs 127 million for the quarter ended March 31, 2002 as compared to Rs 221million in the corresponding period last fiscal. Total Income has decreased from Rs 645 million in the quarter ended March 31, 2001 to Rs 612 million in the quarter ended March 31, 2002. The company has posted a net profit of Rs 522 million for the year ended March 31, 2002 as compared to Rs 629 million for the previous year ending March 31, 2001. Total Income has increased from Rs 2095 million in the financial year ended March 31, 2001 to Rs 2481million in the year ended March 31, 2002. The Board of Directors in their meeting held on April 22, 2002 recommended a dividend of 40% (Rs 2 per share on an equity share of par value of Rs 5/- and subject to tax at source, if any) subject to the approval of members in the AGM.

Hughes Software Systems issues outlook for FY-03

Hughes Software Systems Ltd (HSS) has said that the telecom sector continues to be challenging and has not shown definite signs of improvement. Difficult conditions continue to make future predictions even more difficult. In order to further de-risk the business and create more new opportunities HSS has decided to enter into the BPO segment. This will be started as an independent operation. Aadesh Goyal HSS Vice President (HR, Corporate Communications & IT) will move over to head the BPO division. The TSP business that the company had announced in Q3 last year has got initiated well and the company expects revenues from Q2 onwards. In light of the above the company expects sales to grow during FY-03 by approximately by 15% with Profit After Tax margin of approximately 25% of Total Income. Last year HSS R&D investments was at 14% of sales. However the benefits of this investment will accrue over the next 3-4 years. As such the Board of HSS has decided to amortize R&D in accordance with US and Indian GAAP for software companies wef FY 2002-03. The effect on PAT is expected to be an additional 4-5% of sales.

Television Eighteen Q4 results on April 30, 2002

Television Eighteen India Ltd has informed BSE that a meeting of the sub-committee of the Board of Directors of the Company will be held on April 30, 2002 to consider and take on record unaudited financial results (provisional) for the quarter ended March 31, 2002.