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Future Enterprises standalone net profit rises 615.37% in the June 2016 quarter

Future Enterprises standalone net profit rises 615.37% in the June 2016 quarter

Sep 14,2016

Net profit of Future Enterprises rose 615.37% to Rs 315.48 crore in the quarter ended June 2016 as against Rs 44.10 crore during the previous quarter ended June 2015. Sales declined 67.64% to Rs 921.19 crore in the quarter ended June 2016 as against Rs 2846.84 crore during the previous quarter ended June 2015.

ParticularsQuarter Ended
n++Jun. 2016Jun. 2015% Var.
Sales921.192846.84-68
OPM %24.969.91-
PBDT295.07184.1360
PBT142.3249.92185
NP315.4844.10615

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Spisys to hold board meeting
May 16,2017

Spisys will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and take on record the Audited Financial Results of the Company for the 4th quarter ended 31st March, 2017.

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Objectone Information Systems to hold boarmeeting
May 16,2017

Objectone Information Systems will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and take on record the Audited Financial Results of the Company for the 4th quarter ended 31st March 2017.

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Ishaan Infrastructure & Shelters to hold board meeting
May 16,2017

Ishaan Infrastructure & Shelters will hold a meeting of the Board of Directors of the Company on 30 May 2017, for considering Audited financial results for the financial year ending 31 March 2017.

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Gati gains after settlement with FCCB holders
May 16,2017

The announcement was made during trading hours today, 16 May 2017.

Meanwhile, the S&P BSE Sensex was up 253.74 points, or 0.84% to 30,575.86.

On the BSE, 4.46 lakh shares were traded in the counter so far, compared with average daily volumes of 2.22 lakh shares in the past one quarter. The stock had hit a high of Rs 143.90 and a low of Rs 135.20 so far during the day. The stock hit a 52-week high of Rs 189.45 on 2 August 2016. The stock hit a 52-week low of Rs 107.10 on 9 November 2016.

The stock had underperformed the market over the past one month till 15 May 2017, falling 2.11% compared with 2.92% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 11.04% as against Sensexs 7% rise.

The small-cap company has equity capital of Rs 17.64 crore. Face value per share is Rs 2.

The trustee of the bond holders holding 22,182 zero coupon unsecured foreign currency convertible bonds (FCCBs) of $1000 each, issued under offer circular dated 12 December 2011, had filed a suit against Gati for conversion of FCCBs, which is pending at commercial court.

Gati and the FCCB holder(s) have resolved to settle the dispute by entering into a settlement agreement dated 16 May 2017 where 7,528 FCCBs will be redeemed; 7,373 FCCBs will be converted into the fully paid equity shares of Gati; and balance 7,281 FCCBs will be either redeemed or converted into fully paid equity shares of Gati at the discretion of the FCCB holder(s). It is proposed to file a consent memo in the court accordingly to obtain a consent order.

On a consolidated basis, net profit of Gati declined 40.22% to Rs 9.29 crore on 3.35% decline in net sales to Rs 410.28 crore in Q4 March 2017 over Q4 March 2016.

Gati provides express distribution and supply chain solutions, with a strong presence in Asia Pacific region and SAARC countries, along with an extensive network across India.

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Punjab & Sind Bank standalone net profit declines 91.51% in the March 2017 quarter
May 16,2017

Net profit of Punjab & Sind Bank declined 91.51% to Rs 8.33 crore in the quarter ended March 2017 as against Rs 98.12 crore during the previous quarter ended March 2016. Total Operating Income declined 7.72% to Rs 1962.46 crore in the quarter ended March 2017 as against Rs 2126.61 crore during the previous quarter ended March 2016.

For the full year,net profit declined 40.15% to Rs 201.08 crore in the year ended March 2017 as against Rs 335.97 crore during the previous year ended March 2016. Total Operating Income declined 6.54% to Rs 8172.87 crore in the year ended March 2017 as against Rs 8744.34 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Total Operating Income1962.462126.61 -8 8172.878744.34 -7 OPM %60.2474.86 -69.5775.35 - PBDT-64.45170.26 PL 250.47498.40 -50 PBT-64.45170.26 PL 250.47498.40 -50 NP8.3398.12 -92 201.08335.97 -40

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Ind-Ra: States Fiscal Deficit Rises Most in 12 Years Due to Higher Capital Expenditure
May 16,2017

The states fiscal deficit in FY16 (revised estimate, RE) as a percent of gross domestic product (GDP) rose to the highest since FY04, however expansion of state budgets have been mainly on account of capital expenditure, which is a long-term credit positive for states, says India Ratings and Research (Ind-Ra).

For FY16 the consolidated fiscal deficit to GDP would have been 0.7% lower excluding Ujjwal Discom Awas Yojana (UDAY). Ind-Ra had highlighted the impact that UDAY will have on states deficit in the report UDAY Unlikely to Destabilise Aggregate State Finances but Select States Will Feel the Pinch.

Investors have been raising concerns lately on the increasing fiscal deficit of the state governments. According to the latest RBIs publication n++State Finances A Study of Budgets of 2016-17n++, shows that the combined fiscal deficit of the states in FY16 (RE) has increased to 3.6% of GDP, highest since FY04 (4.2% of GDP).

The combined fiscal deficit of the states have been showing an increasing trend since FY12 (Fiscal Deficit: 1.2% of GSDP). Fiscal deficit can be decomposed in two parts -revenue deficit and capital expenditure net of capital receipts.

Between FY12 and FY16 (RE), combined fiscal deficit of the states increased by 1.7pp of GDP. While there was a reversal in the trend of the combined revenue account of the states from a surplus of 0.3% of GDP in FY12 to a deficit of 0.2% of GDP in FY16 (RE), which added 0.5pp of GDP to fiscal deficit, an increase in the combined capital expenditure of states added 1.0pp of GDP to the fiscal deficit during the same period. The average growth of states aggregate capital expenditure during FY12-FY16 (RE) was 23.7%. Ind-Ra notes that between FY12-FY16 (RE) close to 60% of total capital expenditure was divided almost equally between sectors namely, transport (mainly roads and bridges), power and irrigation.

As against the Union Governments capital expenditure which has remained less than 2% of GDP since FY12, the states combined capital expenditure/GDP ratio has remained over 2% since then. Another noteworthy feature of state finances has been the restrain shown by the states in spending the higher devolution received due to the recommendation of the fourteenth finance commission. The fear was that the states will use higher devolution to enlarge their budget mainly via current expenditure. However, the data suggests that expansion of state budgets have taken place mainly on account of capital expenditure, which is a long-term credit positive for states.

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Minda Inds hits all-time high
May 16,2017

The result was announced during market hours today, 16 May 2017.

Meanwhile, the S&P BSE Sensex was up 257.46 points or 0.85% at 30,579.58. The BSE Mid-Cap index was up 49.52 points or 0.33% at 15,089.99.

On the BSE, 1.48 lakh shares were traded on the counter so far as against the average daily volumes of 16,168 shares in the past one quarter. The stock had hit a high of Rs 568.20 so far during the day, which is a record high. The stock hit a low of Rs 505.05 so far during the day.

The stock had hit a 52-week low of Rs 207.65 on 13 May 2016. It had outperformed the market over the past one month till 15 May 2017, advancing 19.35% compared with the Sensexs 2.92% rise. The scrip had also outperformed the market over the past one quarter, gaining 38.89% as against the Sensexs 7.69% rise.

The mid-cap company has equity capital of Rs 17.28 crore. Face value per share is Rs 2.

Minda Industries is part of UNO Minda. UNO Minda is a technology leader in auto components industry and a leading tier 1 supplier of proprietary automotive solutions to original equipment manufacturers (OEMs).

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Board of Orosil Smith India approves sub-division of shares
May 16,2017

Orosil Smith India announced that the Board of Directors of the Company at its meeting held on 16 May 2017, inter alia, has considered and approved the following:-

1. Sub-division of existing 1 (one) equity share of Rs. 5/- (Rupees five) each face value fully paid up into 5 (Five) number of equity shares of Rs. 1/- (Rs. one ) each face value, subject to the approval of the shareholders and w.e.f. record date fixed by the Board/Committee in this regard on later date.

2. Alteration of capital clause in the Memorandum of Association of the Company.

3. Noting of Resignation of Statutory Auditor, namely; Kumar Aggarwal & Associates of the company

4. Noting of Appointment of M/s PNG & Co., Chartered Accountant as statutory Auditor of the company under section 139(8) of companies Act, 2013 through resolution by circulation on 10 May 2017.

The board has decided to discuss and approve the notice of calling meeting of shareholders for the purpose of sub-division of equity shares and Alteration of capital clause in Memorandum of Association in any other meeting of the board at on later date.

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Larsen & Toubro Infotech director resigns
May 16,2017

Larsen & Toubro Infotech announced that the Company has received on 15 May 2017 a resignation letter from Shubhalakshmi Panse, Non Executive Independent Director, conveying her decision to resign from the Board of the Company due to personal exigencies.

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Usher Agro announces resignation of directors
May 16,2017

Usher Agro announced that Prem Chand Tiwari and Mr. Shri Prakash Arora,. Independent Directors have resigned from the Board of Directors of the Company with effect from 25 April 2017.

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Shalimar Agencies to hold board meeting
May 16,2017

Shalimar Agencies will hold a meeting of the Board of Directors of the Company on 19 May 2017.

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Orissa Manganese & Minerals to hold board meeting
May 16,2017

Orissa Manganese & Minerals will hold a meeting of the Board of Directors of the Company on 12 May 2017.

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Board of BSL recommends final dividend
May 16,2017

BSL announced that the Board of Directors of the Company at its meeting held on 12 May 2017, inter alia, have recommended the final dividend of Rs 1.2 per equity Share (i.e. 12%) , subject to the approval of the shareholders.

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Vaibhav Global appoints director
May 16,2017

Vaibhav Global has appointed Dr Purushottam Agarwal as an Additional Director under the category of Non-Executive Independent Director at its board meeting held on 15 May 2017.

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Delta Leasing & Finance to hold board meeting
May 16,2017

Delta Leasing & Finance will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and approve the Audited Financial results along with the Auditors Report for the Quarter ended 31 March 2017

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