Pidilite Industries Ltd has posted a net profit of Rs 78.90 million for the quarter ended March 31, 2002 as compared to Rs 74 million in the quarter ended March 31, 2001. Total Income has increased from Rs 970.60 million in the quarter ended March 31, 2001 to Rs 1078 million in the quarter ended March 31, 2002.
The Company has posted a net profit of Rs 521.20 million for the year ended March 31, 2002 as compared to Rs 479.60 million in the year ended March 31, 2001. Total Income has increased from Rs 4604.90 million in FY-01 to Rs 4985.70 million in the year ended March 31, 2002.
The Board of Directors at their meeting recommended a dividend of Rs 7/- per equity share, subject to the approval of the shareholders at the Annual General Meeting.
Amara Raja Batteries Q4 net down by 32.64%, FY-02 net down by 11.24%
Amara Raja Batteries Ltd has posted a net profit of Rs 42.66 million for the quarter ended March 31, 2002 as compared to Rs 63.33 million in the quarter ended March 31, 2001. Total Income has increased from Rs 441.99 million in the quarter ended March 31, 2001 to Rs 508.35 million in the quarter ended March 31, 2002.
The Company has posted a net profit of Rs 182.23 million for the year ended March 31, 2002 as compared to Rs 205.32 million in the year ended March 31, 2001. Total Income has increased from Rs 1320.32 million in FY-01 to Rs 1581.22 million in the year ended March 31, 2002.
Board of Directors has recommended a dividend of 35% subject to approval by the shareholders.
Bombay Dyeing FY-02 result Reserves
Bombay Dyeing & Manufacturing Company Ltd had given the Reserves excluding revaluation reserves as Rs 3026.50 million in the results for the financial year ended March 31, 2002.
The company has now said that the figure should be read as Rs 2948.20 million.
Rajesh Narang appointed as Company Secretary of Aztec Software & Tech
Aztec Software & Technology Services Ltd has informed BSE that consequent to the resignation of Ms Sudha Madhavan, Mr Rajesh S Narang has been appointed as the Company Secretary of the Company and will be the compliance officer henceforth.
Trent Q1 results on July 22, 2002
A meeting of the Board of Directors of Trent Ltd will be held on July 22, 2002 to take on record the unaudited financial results of the company for the quarter ended June 30, 2002.
Silverline Technologies to seek shareholders approval for increase in authorised share capital
Silverline Technologies Ltd has informed BSE that an EGM of the Company will be held on July 17, 2002 to consider the following:
1. To further issue securities by way of equity shares/preference shares/convertible debentures/Convertible Notes/Foreign Currency Convertible Bonds (FCCBs) /Secured Premium Notes (SPN) and/or any securities convertible into equity shares at the option of the company and or/holder of the securities linked to equity shares through ADR and/or GDR and/or any other instruments of securities for cash consideration or stock swap or for other valuable consideration including strategic alliances, business or a combination thereof through Public Issue, Private Placement, Preferential Allotment for an amount not exceeding $35 million.
The purpose of the offer is to exploit the emerging opportunity for business growth through strategic alliances both in India and abroad meet expenditure on on-going/new capital projects and consequent needs of additional long term working capital and for other Corporate purposes.
2. The present authorised share capital of the Company is Rs 135,00,00,000 divided into 13,50,00,000 shares of Rs 10/- each.
Consequent to issue of securities it is proposed to increase the authorised share capital of the Company from the existing Rs 135,00,00,000 to Rs 190,00,00,000 by creation of additional 5,50,00,000 equity shares of Rs 10 each.
Morepen acquires Lemoiate
Dr Morepen Ltd today (June 25, 2002) announced its third acquisition- Lemoiate a premium brand of Yash Pharma Laboratories Ltd. In the cough and cold category. The acquisition has been made under the umbrella of Dr Morepen similar to the other two recent acquisitions, Burnol and Lifespring.
Speaking on the acquisition Sushil Suri CMD, Morepen Laboratories Ltd said, " As a strategy, we have decided to enter this category with one of the forerunners to expand the Dr Morepen's basket of health products, therefore carrying its brand promise of Health in Your Hands further. The inherent strengths, will help us achieve high volume and growth."
The brand has a very strong equity in the eastern and western parts of the country, which account for nearly 70% of the sales. Lemoiate is available in packs of ten tablets and is positioned as a "first-rate First Aid for Cold-n-flu syndrome."
FDC Q4 net up by 202.67%,FY-02 net up by 52.26%
FDC Ltd has posted a net profit of Rs 113.20 million for the quarter ended March 31, 2002 as compared to Rs 37.40 million in the quarter ended March 31, 2001.
Total Income has increased from Rs 386.70 million in the quarter ended March 31, 2001 to Rs 528.60 million in the quarter ended March 31, 2002.
The Company has posted a net profit of Rs 373.80 million for the year ended March 31, 2002 as compared to Rs 245.50 million in the year ended March 31, 2001.
Update on Praj Industries
Praj Industries Ltd has informed BSE the following:
R&D efforts Praj has involved close to Rs 10 million in upgrading its R & D facility
This is the only R & D center dedicated to Biofuels
Praj has seven persons directly in its R & D center and has indirect strength of around 15 to 20 persons
Praj may undertake R & D contract outside Praj field at a later date but certainly not immediately, because there is lot of potential in Praj's area of business itself.
Business Focus Praj has received first order from Australia a developed nation
The order is in two phases with 18 months completion cycle. It has two portions namely engineering of Rs 60 million and equipment of Rs 120 million.
The feed stock considered for this project is sweet sorghum, which is a hybrid of sorghum and cane. Sweet sorghum is available in Australia and pilot trials have already been undertaken.
Australian fuel ethanol programme was announced a year and half ago.
Praj will bid for other projects in Australia
Praj is looking at business opportunities for fuel ethanol plants in China and Europe also
Rampur distillery (a Radico Khaitan Group Company) has given Praj an order for Rs 50 million to upgrade their plant and to build new distillation plant based on praj's advanced technology. The plant has capacity of 15 million litres per annum and is based on international beverage quality norms.
Kothari Products to consider reduction of capital
At the meeting of the Board of Directors of Kothari Products Ltd scheduled to be held on June 28, 2002 to consider the audited financial results for the year ended March 31, 2002, a scheme of arrangement with the shareholders of the company will also be considered at the aforesaid board meeting to give them an exit opportunity at an appropriate price and for reduction of capital.
eStar Infotech to consider bonus issue
A meeting of the Board of Directors of e Star Infotech Ltd will be held on July 03, 2002 to consider the following:
1. To discuss/approve the proposal of Tata Economic Consultancy Services a division of Tata Sons Ltd for formulating a business development strategy and eventual involvement as a Marketing Partner for the company's product and service offerings.
2. The proposal to allow foreign institutional investors (FII) to hold the company's equity
3. To issue bonus shares to the existing equity shareholders.
Cadbury Q2 results on July 11, 2002
Cadbury India Ltd has informed BSE that the meeting of the Board of Directors is scheduled to be held on July 11, 2002 to consider and take on record the second quarter unaudited financial results ended on June 16, 2002. The period is from April 01, 2002 to June 16, 2002.
Maha Rashtra Apex Corporation announces change in management structure
Maha Rashtra Apex Corporation Ltd has informed BSE that:
Y V Pai, Vice chairman has resigned from the Board w e f May 27, 2002
Jamsheed M Pandey has been coopeted as Additional Director of the Company w e f May 27, 2002.
Finolex Cables announces timetable for buyback
Finolex Cables Ltd has informed BSE that the Board of Directors of the company has by resolution passed by circulation approved the following revised offer timetable for the proposed buyback of equity shares of the company.
Offer Opens on June 28, 2002
Offer Closes on July 12, 2002
Alstom announces change in management structure
Alstom Ltd has informed BSE that at the meeting of the Board of Directors of the company held on June 21, 2002 K K Moradian, Managing Director submitted his resignation and requested to be relieved from the close of business on June 30, 2002. The Board has accepted the same.
At the said meeting, the Board appointed Dr Krishna Pillai, Managing Director of Alstom Power India Ltd and already a member of the Board, as the Deputy Chairman and Joint Managing Director of the company.
The Board has also co-opted Mr Ajay Dhagat, who is presently heading the company's T&D segment, as an Additional Director was appointed as Joint Managing Director.
Vital Communications board approves allotment of NCD to FII/MF
Vital Communications Ltd has informed BSE that in the meeting of the Board of Directors of the Company held on June 24, 2002 the Board has approved the allotment of Non Convertible Debentures (short term) of Rs 100 million and Non convertible Debentures (long term) of Rs 100 million totalling Rs 200 million to be placed with Foreign Institutional Investors/Mutual Fund.
Integrated Hitech to get Income Tax returns preparation software
Integrated Hitech Ltd has informed BSE that the Company is getting Income-Tax returns preparation software easitax 4.0 and easitax4i released by Mr B Ramaraj (Formely,Additional Secretary cum Joint Director, SIRC, ICAI) on June 26, 2002.
Bombay Burmah announces change in management structure
Bombay Burmah Trading Corporation Ltd has informed BSE that Mr Ashok Panjwani has been appointed as an Additional Director wef June 24, 2002.
Further, he is appointed as the Executive Director of the company for a period of 3 years subject to the approval of the shareholders at the General Meeting.
Ramco Systems to introduce enterprise analytics
Ramco Systems Ltd has informed BSE that the Company is introducing Ramco Business Decisions, a unique solution to address corporate performance management. This will be a critical part of the next-generation ERP-II suite of products, Ramco IEnterprise series 4.0 that will be launched later this year.
The Balanced Scorecard methodology propounded by D Robert Kaplan and Dr David Norton has been incorporated as the strategic performance management framework in Ramco Business Decisions.
In addition closed loop planning and control framework is also available to address the tactical and operational perspectives. These frameworks allow managers to focus on the issues at hand in the form of easy to understand goal hierarchies.
Ramco Business Decisions a web-architected software product provides relevant information in the form of metrics/related report and links this information with appropriate actionable processes in the form of business rules, alerts and workflow.
It also monitors critical events on a near real time basis to facilitate preventive actions.
Sree Meenakshi Mills fixes record date for scheme of amalgamation
BSE has informed members of the exchange that Sree Meenakshi Mills Ltd, has fixed July 12 2002, as the Record Date for the purpose of Amalgamation of the company with Gujarat Heavy Chemicals Limited. As per the scheme of amalgamation three equity shares of Gujarat Heavy Chemicals Ltd., will be allotted for every ten existing equity shares of the Sree Meenakshi Mills Ltd., held.
Trading in the equity shares of Sree Meenakshi Mills Ltd., is under suspension w.e.f. May 10,1999.
Nirma revises book closure date
Nirma Ltd has informed BSE that the Company has decided to change book closure date from July 20, 2002 to August 09, 2002 (both days inclusive) to August 20, 2002 to September 09, 2002 (both days inclusive) for the purpose of determining the right of the equity shareholders of the Company to receive dividend for the year 2001-2002 and for the purpose of Annual General Meeting.
RIL Chairman Dhirubhai Ambani under medical supervision
Reliance Industries Ltd has informed BSE that Mr Ambani has suffered a stroke and has been hospitalised at the Intensive Care Unit (ICU) of Breach Candy Hospital, Mumbai and he is under medical supervision.
Mastek denies news item
With reference to news item appearing in a leading financial daily titled " M&M to acquire US-based Auto Engineering Company" Mahindra & Mahindra Ltd has informed BSE that the Company is exploring possibilities of acquiring substantial holdings in a US based Company for expanding its automotive engineering business abroad. However the plans are not yet finalised. Besides the Company has not yet taken a decision of spinning off the Engineering Services Business as a separate Company.
