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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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Opening of Bank Accounts and Promotion of Digital Payments in Textile Sector
Feb 04,2017

Government has launched a special drive for opening of bank accounts and promotion of digital payments in the textiles sector, by organizing special camps. As on 20 January 2017, a total of 11,86,203 bank accounts have been opened and activated for textile workers, which includes 17,245 jute workers. For weavers and artisans of handloom and handicraft sectors, 1,912 camps were organized upto 20 January 2017; a total of 6,28,215 bank accounts have been opened/mobile apps downloaded by the participants of these camps. Banks have provided micro-ATM facilities at weaving clusters.

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Kalyanpur Cements announces cessation of BIFR nominated director
Feb 04,2017

Kalyanpur Cements announced that consequent upon winding up of BIFR as a result of notification of Sick Industrial Companies (Special Provisions) Repeal Act, 2003 BIFR has ceased to exist and Winding Up Cell of BIFR has informed that the Special Directors appointed by BIFR would not continue on the board of the companies where they were appointed as Special Directors.

Accordingly, Ashok Kumar Dutta, appointed by BIFR as Special Director has ceased to be member of the Board of Directors of the Company.

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Dalmia Bharat allots 60000 equity shares
Feb 04,2017

Dalmia Bharat has allotted 60000 equity shares of Rs 2 each on 03 February 2017 pursuant to the Employee Stock Option Scheme.

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Marico announces resignation of director
Feb 04,2017

Marico announced that Atul Choksey Independent Director of the Company has tendered his resignation with effect from 01 April 2017 on the grounds of paucity of time, vide his letter dated 01 February 2017, which was received by the Company on 02 February 2017.

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Gulf Oil Lubricants India allots 8,526 equity shares
Feb 04,2017

Gulf Oil Lubricants India announced that on 03 February 2017 the Company has allotted 8,526 Equity Shares of Rs. 2/- each fully paid-up to the grantees on exercise of the options granted to them pursuant to the Gulf Oil Lubricants India Limited - Employee Stock Option Scheme 2015.

These Equity Shares rank pari-passu with existing Equity Shares of the Company.

In view of the above the issued and paid-up capital of the Company stands increased to Rs. 9,92,46,136/- consisting 4,96,23,068 Equity Shares of Rs. 2/- each.

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Credit Analysis & Research fixes record date for 3rd interim dividend
Feb 04,2017

Credit Analysis & Research has fixed 15 February 2017 as the Record Date for the purpose of payment of Third Interim Dividend.

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Board of Credit Analysis & Research declares 3rd interim dividend
Feb 04,2017

Credit Analysis & Research announced that the Board of Directors of the Company at its meeting held on 03 February 2017, inter alia, have declared 3rd Interim Dividend of Rs. 6/- per equity share of Rs. 10/- each for financial year 2016-17.

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Total direct tax collections up to 16th January 2017 amount to Rs. 5,76,408 crore
Feb 04,2017

Total direct tax collections up to 16th January 2017 amount to Rs. 5,76,408 crore. For the financial year 2017-18, the Budget Estimates fixed for direct taxes are Rs. 9,80,000 crore.

As per Receipt Budget 2017-18, the Budget Estimates for direct taxes have been fixed at Rs. 9,80,000 crore, including Rs. 5,38,745 crore for Corporation Tax and Rs. 4,41,255 crore for Taxes on Income.

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Kanoria Chemicals & Industries gets revision in credit ratings for bank facilities
Feb 04,2017

Kanoria Chemicals & Industries announced that Credit Analysis & Research (CARE) has revised the credit rating for the long term bank facilities of the Company to CARE A+ (Single A Plus) from the existing rating of CARE AA- (Double A Minus).

The existing credit ratings for the short term bank facilities and Commercial Paper have been reaffirmed as CARE A1+ (A One Plus).

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Board of Orissa Sponge Iron & Steel approves change in directorate
Feb 04,2017

Orissa Sponge Iron & Steel announced that the Board of Directors of the Company at its meeting held on 02 February 2017 approved the following change in directorate -

Cessation of S K Khetan.
Appointment of Nancy Roy as Additional Independent Woman Director.
Appointment of Mukesh Bhagat as an Additional Independent Director on the Board.
Approved allotment of 15 lakh shares on conversion of equivalent share warrants.

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Board of Zee Media Corporation appoints executive director
Feb 04,2017

The Board of Directors of Zee Media Corporation at its meeting held on 03 February 2017 has approved the appointment of Jagdish Chandra as Executive Director - Regional News Channels of the Company for a period of 5 years with effect from 03 February 2017.

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Direct Benefit Transfer in Fertilizer Sector
Feb 04,2017

Union Minister of State for Chemicals and Fertilizers, Shipping, Road Transport & Highways, Shri Mansukh L. Mandaviya, in a written reply in Rajya Sabha today, said that the Direct Benefit Transfer (DBT) being implemented in fertilizer subsidy payment is slightly different from the normal DBT being implemented in LPG subsidy. The Minister informed that under the DBT in fertilizer sector, the subsidy will be released to the fertilizer companies instead of the beneficiaries, after the sale is made by the retailers to the beneficiaries.

Shri Mandaviya further explained that at present direct transfer of subsidy to beneficiaries like in LPG cannot be introduced in fertilizer sector as the beneficiaries and their entitlement is not clearly defined. Multiple subsidized products, urea and 21 grades of Phosphatic&Potassic fertilizers have different subsidy rates. The subsidy rate in respect of urea varies from company to company due to different production processes, energy efficiencies of plants, vintage etc. As the amount of subsidy in some fertilizers, particularly urea is more than double the MRP, it will be a huge financial burden on the farmers to pay the MRP and subsidy upfront and receive the subsidy amount subsequently, he added.

The Minister informed that the pilot project to introduce DBT in Fertilizer Sector has been undertaken in 16 districts as given below: 

Sl. No.DistrictState 1.UnaHimachal Pradesh2.KishanganjBihar3.HoshangabadMadhya Pradesh4.KarnalHaryana5.Kurukshetra6.KannurKerala7.NasikMaharashtra8.Raigarh9.TumkurKarnataka10.RangareddyTelengana11.KrishnaAndhra Pradesh12.West Godavari13.MaldahWest Bengal14.South 24 paraganas15.NarmadaGujarat16.PaliRajasthan

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Board of Nagarjuna Agrichem notes MoU entered with Andhra Pradesh Govt. to set up new unit
Feb 03,2017

Nagarjuna Agrichem announced that the Board of Directors of the Company at its meeting held on 03 February 2017 transacted the following -

noted that the Company has entered into a MoU with Government of Andhra Pradesh for setting up a greenfield unit in the state of Andhra Pradesh, during the 2nd Sunrise Andhra Pradesh Investment meet & 23rd edition of CII Partnership Summit held at Vishakhapatnam on 28 Janaury 2017.

Took note of resignation of K S Raju as Director of the Company with immediate effect.

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Board of Gallantt Ispat approves change in CFO
Feb 03,2017

The Board of Directors of Gallantt Ispat at its meeting held on 03 February 2017 accepted resignation of Amit Jalan as CFO and appointed Anurag Khetan as CFO with effect from 03 February 2017. The Board also approved purchase of shares/ acquisition of stake in other corporate bodies.

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Board of Novartis India appoints company secretary
Feb 03,2017

Novartis India announced that the Board of Directors of the Company at its meeting held on 03 February 2017, has approved the following:

- Appointment of Trivikram Guda as Company Secretary and Compliance Officer with effect from 03 February 2017.

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