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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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Skipper gets revision in credit ratings
Nov 07,2016

Skipper has received upgrade/ reaffirmation of ratings as follows-

Long term bank facilities - CARE A+ (Revised from CARE A+)
Short term bank facilities - CARE A1+ (Revised from CARE A1)
Proposed commercial paper issue of Rs 50 crore - CARE A1+ (Revised from CARE A1)

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PHD Chamber urges the Government to rationalise 28% GST on white goods
Nov 07,2016

While welcoming the GST rate structure of 5%, 12%, 18% and 28% announced by the Union Finance Minister, the President, PHD Chamber of Commerce and Industry, Dr. Mahesh Gupta said 28 per cent tax on white goods is not in sync with the present tax reforms.

Dr. Mahesh Gupta said that high tax rate will have a cascading impact on the consumer goods segment and hit to consumer demand majorly in the rural segments of the economy as demand is primarily emerging for the rural sectors of the economy.

I strongly believe that the impact of GST would be a major game changer for the economy for accelerating the economic growth and generating more and more employment opportunities, said Dr. Mahesh Gupta.

The lowest tax rate of 5 percent is suggested to be levied on items of mass consumption such as spices, mustard oil etc. which are used particularly by common people is a welcome step. The standard tax rate of 12 and 18 percent would accommodate most of the goods and services including processed foods, soaps, oil, smart phones etc. is also good.

We appreciate the pre emptive measures to keep inflation under check as essential items including food, which presently constitute roughly half of the consumer inflation basket, will be taxed at zero rate, said Dr. Gupta.

Undoubtedly, the interest of common man has been duly taken care of which is evident from finalisation of 5% tax rate on common use items, as against 6% proposed earlier. Further, zero rating of necessities is also a welcome move in the beneficial interest of the common man, said Dr. Mahesh Gupta

The fourth slab of 28 percent will imply to white goods and cars while an additional cess will be collected along with the higher tax rate of 28 percent on Luxury cars, which the industry says is counterproductive to the ongoing tax reforms in the country as it will have impact on demand and make in India programme and consequently on manufacturing and employment, said Dr. Gupta.

The Chamber urges the government to look into GST rate for white goods and to reduce the same to maintain a rational rate in line with the initial aims of GST implementation. The chamber awaits the rates for gold and precious metals which will be announced today during the GST council meet today, he said.

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Mangalam Cement moves north after turnaround in Q2
Nov 07,2016

The result was announced on Saturday, 5 November 2016.

Meanwhile, the S&P BSE Sensex was up 233.07 points or 0.85% at 27,507.22.

On BSE, so far 26,000 shares were traded in the counter as against average daily volume of 21,395 shares in the past one quarter. The stock hit a high of Rs 341 and a low of Rs 322.30 so far during the day. The stock had hit a record high of Rs 375.15 on 23 August 2016. The stock had hit a 52-week low of Rs 151.10 on 25 February 2016. The stock had underperformed the market over the past one month till 4 November 2016, sliding 9.24% compared with 3.74% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, advancing 15.26% as against Sensexs 1.59% fall.

The small-cap company has equity capital of Rs 26.69 crore. Face value per share is Rs 10.

The companys net sales declined 5.2% to Rs 189.45 crore in Q2 September 2016 over Q2 September 2015.

Mangalam Cement is a cement manufacturing company.

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Rajesh Exports gains after opening new retail showroom
Nov 07,2016

The announcement was made during market hours today, 7 November 2016.

Meanwhile, the BSE Sensex was up 244.51 points, or 0.9%, to 27,518.66.

On BSE, so far 47,073 shares were traded in the counter, compared with an average volume of 1.16 lakh shares in the past one quarter. The stock hit a high of Rs 461 and a low of Rs 455 so far during the day. The stock hit a record high of Rs 745.50 on 18 February 2016. The stock hit a 52-week low of Rs 422.50 on 24 June 2015. The stock underperformed the market over the past one month till 4 November 2016, falling 3.99% compared with the Sensexs 3.74% fall. The scrip, however, outperformed the market in the past one quarter gaining 4.64% as against the Sensexs 1.59% decline.

The large-cap company has an equity capital of Rs 29.53 crore. Face value per share is Re 1.

Rajesh Exports announced that it opened 81st retail showroom under its brand Shubh Jewellers at Bangalore. The company has completed its first phase of retail launch by launching 80 Shubh Jewellers showrooms. The company has now launched its second phase of retail expansion with the opening of this showroom, Rajesh Exports said. In the second phase of retail expansion, the company has finalised plans to launch series of retail showrooms in the four southern states of India. The second phase of retail expansion will span over the next four financial quarters.

Chairman of Rajesh Exports, Rajesh Mehta said that the company is confident that over a period of the next one year, the company would be able to substantially increase the retail business by launching new retail stores which would result in increased profit margin for the company as retail is a high margin business.

On a consolidated basis, net profit of Rajesh Exports rose 13.8% to Rs 269.91 crore on 289% jump in net sales to Rs 58916.76 crore in Q1 June 2016 over Q1 June 2015. The company will announce its Q2 results on 11 November 2016.

Rajesh Exports is largest processor of gold in the world. It processes 35% of gold produced in the world. It has a presence across the value chain of gold from mining till its own retail brand. It is also the largest refiner of gold in the world.

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Intercontinental Leasing & Fin. Co. to hold board meeting
Nov 07,2016

Intercontinental Leasing & Fin. Co. will hold a meeting of the Board of Directors of the Company on 12 November 2016 to consider and approve the unaudited financial results for the quarter ended September 30, 2016.

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Intercontinental Leasing & Fin. Co. to hold board meeting
Nov 07,2016

Intercontinental Leasing & Fin. Co. will hold a meeting of the Board of Directors of the Company on 12 November 2016 to consider and approve the unaudited financial results for the quarter ended September 30, 2016.

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Spaceage Products to hold board meeting
Nov 07,2016

Spaceage Products will hold a meeting of the Board of Directors of the Company on 12 November 2016 to consider and approve the unaudited financial results for the quarter ended September 30, 2016.

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Aanchal Ispat to hold board meeting
Nov 07,2016

Aanchal Ispat will hold a meeting of the Board of Directors of the Company on 14 November 2016 consider and approve the Unaudited Financial Results of the Company for the half year ended September 30, 2016.

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Balgopal Commercial to hold board meeting
Nov 07,2016

Balgopal Commercial will hold a meeting of the Board of Directors of the Company on 14 November 2016 to consider the unaudited financial results of the company for the quarter and half year ended September 30, 2016.

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Apunka Invest Commercial to hold board meeting
Nov 07,2016

Apunka Invest Commercial will hold a meeting of the Board of Directors of the Company on 14 November 2016 to consider and approve the unaudited financial results of the company for the quarter and half year ended on September 30, 2016.

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RDB Rasayans to hold board meeting
Nov 07,2016

RDB Rasayans will hold a meeting of the Board of Directors of the Company on 14 November 2016 Un-audited Financial Results of the Company for the quarter and half year ended September 30, 2016.

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Zeal Aqua to hold board meeting
Nov 07,2016

Zeal Aqua will hold a meeting of the Board of Directors of the Company on 12 November 2016 to consider and approve Un-audited Financial Results for half financial year ended on September 30, 2016.

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K D Trend Wear to hold board meeting
Nov 07,2016

K D Trend Wear will hold a meeting of the Board of Directors of the Company on 12 November 2016 to consider and approve the Unaudited Financial Results for the half year ended on September 30, 2016.

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Layla Textile & Traders to hold board meeting
Nov 07,2016

Layla Textile & Traders will hold a meeting of the Board of Directors of the Company on 14 November 2016 The unaudited financial results for the quarter and half year ended on September 30, 2016.

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Franklin Leasing & Finance to hold board meeting
Nov 07,2016

Franklin Leasing & Finance will hold a meeting of the Board of Directors of the Company on 12 November 2016 Halfyear ended on 30th september, 2016

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