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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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UJALA - UK (UK Joins Affordable LEDs for All) by Energy Efficiency Services Ltd. (EESL) in launched
May 15,2017

Worlds largest efficient lighting programme, UJALA - UK (UK Joins Affordable LEDs for All) by Energy Efficiency Services Ltd. (EESL) launched in London, United Kingdom. During the event, MoUs were signed between Indian High Commission and EESL and between the British Electrotechnical and Allied Manufacturers Association (BEAMA) and the Indian Electrical and Electronic Manufacturers Association (IEEMA) to strengthen bilateral industry cooperation and exchanges between India and the UK.

Informing about the scale at which the EESL LED programme is expanding, the Union Minister of State (IC) for Power, Coal, New & Renewable Energy and Mines, Shri Piyush Goyal said that, the EESL LED programme in India has grown 140 times in less than 2 years and I dont think we will find any parallel to that anywhere in the world. EESL would achieve the turnover target of $1.5 million by 2019, concomitant with the Government of Indias target under the UDAY scheme and 100% rural household electrificationn++. Shri Goyal further stated that even in the Developed countries like the US and Europe, there is a great potential for incorporating energy efficiency measures like the EESL LED programme, especially looking at the climate change scenario in the present context. Indias share in the Global LED market has increased from a mere 0.1% a few years back to around 16% today, it was informed.

Talking about the potential energy savings by implementing the LED programme in India, Shri Goyal said that lighting alone consists of 15% of the total energy needs of the population across the country, especially the lower middle class families, which is about 180 billion units of energy. As India moves towards becoming a 100% LED Nation, the potential savings would be around 112 billion units, in other terms reducing carbon dioxide emissions by nearly 79 million tonnes every year. Consequently, Indias peak load will reduce by about 20 GW and our consumers will save around $6.5 billion worth in electricity bills annually, the Minister added.

Describing the strategy for scaling up the LED penetration in UK, Shri Goyal said that India was able to significantly reduce the purchase price of the LED by increasing efficiency and not giving subsidies to the consumers. The scheme has sustained itself on the savings achieved by increasing energy efficiency in the whole lifecycle of the LED bulbs. n++Government of India has fine tuned the process, brought down the costs of manufacturing and sold nearly 230 million LED bulbs whereas the private sector, in the same period, sold about 330 million LED bulbs, effectively replacing about 560 million incandescent bulbs in the last 2 years. The consumers are the direct beneficiaries by saving on electricity bills and reducing the carbon footprint on the environment for the future generations, he added.

The Minister requested the Government of UK to get EESL in touch with all the stakeholders like local distribution companies, e-commerce companies, hotels, industry, large businesses, supermarket chains etc. and replicate Indias model in the UK so as to achieve a similar kind of scale up that the programme has witnessed in India as a zero investment model. He stressed that a massive deployment of this LED programme throughout the world will go a long way in fighting climate change and make the world a better place to live in for the future generations. The Minister urged all the dignitaries present to become ambassadors of this Energy Efficiency programme for a better tomorrow.

The Minister also suggested to the Government of the UK a target of replacing at least 100 million incandescent bulbs with LEDs by March 2019 and reduce the individual household consumption of energy by at least half. Further, it was informed that as a beginning to UJALA-UK operations, EESL has started the retrofitting of the facade and other lights of the High Commission of India in UK and the India House which would lead to considerable energy savings. EESLs engagement with the UK will cover a broad spectrum including marketing of the world class energy efficiency products, services, investments and raising capital, scouting for new energy efficiency technologies and partnering with British companies to establish presence in third world country markets.

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Natco Economicals announces resignation of director
May 15,2017

Natco Economicals announced that Dhvani Contractor has tendered her Resignation as an Independent woman Director with effect from 13 May 2017.

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Hindustan Composite fixes record date for stock split and bonus issue
May 15,2017

Hindustan Composite announced that the Record Date has been fixed as 26 May 2017 for the purpose of ascertaining the eligibility of shareholders for: 1) Sub-division of existing 1 (One) equity share having face value of Rs. 10/- (Rupees Ten only) each fully paid-up into 2 (Two) equity shares having face value of Rs. 5/- (Rupees Five only) each; and 2) Issue of bonus shares in proportion of 1:2 {i.e. 1 new bonus equity share of Rs. 5/- (Rupees Five only) each for every 2 (Two) equity shares of Rs. 5/- (Rupees Five only) each held) (Post split face value per equity share).

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Outcome of board meeting of J K Cements
May 15,2017

The Board of Directors of J K Cements in their Board Meeting held on 13 May 2017 has interalia: -

1.Approved audited standalone and consolidated result for year ended 31 March 17.

2.Recommended a dividend of Rs. 8 (Rupees eight only) per equity share for the F.Y 16-17.

3.The Register of Members and Share Transfer Books will remain closed from Thursday the 20 July 2017 to Saturday 29 July 2017 (both day inclusive). Record date for dividend is fixed on 29 July, 2017.

4.23rd AGM of the Company will be held on Saturday the 29 July, 2017 at Kanpur at 12.30 P.M.

5.M/s. S. R. Batliboi & Co, LLP, Chartered Accountants, (ICAI Firm Registration No. 301003E/E300005) appointed as Statutory Auditors of the Company for 5 years from 23rd AGM, subject to AGM approval.

6.To issue secured redeemable NCDs on private placement basis for an amount upto Rs. 500 crores.

7.To expand the Wall Putty production capacity by 2 Lakhs M.T. per annum at J.K.White, Katni.

8.The Board took note of increase in Clinker Production Capacity by 3.30 lac tons per annum in Rajasthan Grey Cement plants by Cooler Modification and De-Bottlenecking/Up-gradations with the total cost of approximately Rs.50 Crores. With this the overall grey cement clinker capacity of Rajasthan Plants stands increase to 54.45 lakh tons per annum.

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Idea Cellular declines after weak Q4 results
May 15,2017

The result was announced on Saturday, 13 May 2017.

Meanwhile, the S&P BSE Sensex was up 129.80 points or 0.43% at 30,317.95.

On the BSE, 2.19 lakh shares were traded on the counter so far as against the average daily volumes of 53.26 lakh shares in the past one quarter. The stock had hit a high of Rs 93.25 and a low of Rs 91.30 so far during the day.

The stock had hit a 52-week high of Rs 123.75 on 20 March 2017 and a 52-week low of Rs 66 on 9 November 2016. It had outperformed the market over the past one month till 12 May 2017, advancing 6.46% compared with the Sensexs 1.84% rise. The scrip had, however, underperformed the market over the past one quarter, declining 16.36% as against the Sensexs 6.54% rise.

The large-cap company has equity capital of Rs 3605.81 crore. Face value per share is Rs 10.

Idea Cellulars consolidated revenue from operations declined 14.26% to Rs 8126.10 crore in Q4 March 2017 over Q4 March 2016.

Idea said that the Indian wireless industry witnessed an unprecedented disruption in the second half FY 2017on account of free voice & mobile data promotions by the new entrant in the sector (Reliance Jio). The October to April 2017 interval can be best described as Period of Telecom Discontinuity, permanently changing mobility business parameters, it added.

Consequently, the revenue KPIs & financial parameters for all mobile operators have sharply declined in the second half of FY 2017. With the new entrant starting to charge for its services, albeit very slowly, the sector is expected to return to growth in FY 2018, Idea Cellular said.

The capex guidance of Idea Cellular for FY 2018 is Rs 6000 crore with current spectrum portfolio.

With regard to updates on merger with Vodafone India, the company said that Vodafone & Idea have initiated necessary steps to obtain regulatory approvals for the proposed merger.

Shares of Idea Cellular had risen 6.15% in the preceding three trading sessions to settle at Rs 92.30 on Friday, 12 May 2017, from its closing of Rs 86.95 on 9 May 2017.

Idea Cellular is the third largest wireless operator in India with a revenue market share (RMS) of 18.7% as at 31 December 2016. It is the sixth largest mobile telecommunications company (counted on operations in a single country) in the world based on number of subscribers as of 31 December 2016.

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J K Cements fixes record date for dividend
May 15,2017

J K Cements has fixed 29 July 2017 as record date for payment of dividend, if declared.

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Board meeting of Rajapalayam Mills postponed
May 15,2017

Rajapalayam Mills announced that, due to the sudden demise of P. R. Ramasubrahmaneya Rajha, Chairman of the Company, the Board Meeting scheduled to be held on 24 May 2017, is postponed to 25 May 2017.

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Shares of Meera Industries get listed
May 15,2017

The equity shares of Meera Industries (Scrip Code: 540519) are listed effective 15 May 2017 and admitted to dealings on the Exchange in the list of M Group Securities.

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Implementation of the expanded India-Chile PTA on 16 May 2017
May 15,2017

India and Chile have entered into another milestone in their trade relations as an agreement on expansion of India-Chile PTA which was signed on 6th September, 2016 is finally being implemented on 16th May, 2017. The Union Cabinet had approved the expansion of PTA in April, 2016.

The expanded PTA would immensely benefit both sides as a wide array of concessions has been offered by both sides on a number of tariff lines which will facilitate more two way trade.

India and Chile had earlier signed a Preferential Trade Agreement (PTA) on March 8, 2006 which came into force with effect from August, 2007. The original PTA had a limited number of tariff lines wherein both sides had extended tariff concessions to each other. Indias offer list to Chile consisted of only 178 tariff lines whereas Chiles offer list to India contained 296 tariff lines at 8-digit level.

The expanded PTA has a wider coverage wherein Chile has offered concessions to India on 1798 tariff lines with Margin of Preference (MoP) ranging from 30%-100% and India has offered concessions to Chile on 1031 tariff lines at 8-digit level with MoP ranging from 10%-100%. These tariff lines were based on HS 2012 when the negotiations had been concluded. With the implementation of the HS 2017 Nomenclature with effect from 1st January, 2017, both sides have aligned their Annexes on Indias Schedule of Tariff Concessions, Chiles Schedule of Tariff Concessions and the Schedule on Rules of Origin as per HS 2017 Nomenclature for issue of Notification. This would facilitate exporters of both sides to take the advantage of tariff concessions as per the expanded PTA immediately which covers around 96% of bilateral trade.

Chile is the fourth largest trading partner of India in LAC region after Brazil, Venezuela and Argentina. Indias bilateral trade has grown substantially to reach a level of US$ 3,646.45 million during 2014-15 as compared to US$ 2,655.35 million in 2011-12 as per the Department of Commerce statistics. However, during year 2015-16, bilateral trade declined by (-) 27.60% and stood at US$ 2,639.99 million with exports US$ 679.32 million and imports US$ 1,960.67 million. The decline in bilateral trade was due to extraneous reasons such as fall in prices of crude oil and international commodities. During the last few years, bilateral trade has been in favour of Chile because of import of high volume of copper ore which constitute more than 88% of the imports from Chile.

Indias exports to Chile are diverse which consist of transport equipment, drugs and pharmaceuticals, yarn of polyester fibres, tyres and tubes, manufacture of metals, articles of apparel, organic/inorganic and agro chemicals, textiles, readymade garments, plastic goods, leather products, engineering goods, imitation jewellery, sports goods and handicrafts. Major items of Import from Chile are copper ore and concentrates, iodine, copper anodes, copper cathodes, molybdenum ores & concentrates, lithium carbonates & oxide, metal scrap, inorganic chemicals, pulp & waste paper, fruits & nuts excluding cashews, fertilizers and machinery.

Keeping in view that Chile is the founding member of the Pacific Alliance to which India is an Observer Member, implementing the expanded PTA could deepen its engagement with the emerging trade bloc.

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Shares of Kanungo Financiers get listed
May 15,2017

The equity shares of Kanungo Financiers (Scrip Code: 540515) are listed effective 15 May 2017 and admitted to dealings on the Exchange in the list of XT Group Securities.

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Alembic Pharmaceuticals receives ANDA approval for Fenofibric Acid Delayed-Release Capsules
May 15,2017

Alembic Pharmaceuticals announced that the Company has received approval from the US Food & Drug Administration for its Abbreviated New Drug Application for Fenofibric Acid Delayed-Release Capsules, 45 mg and 135 mg. The approved ANDA is therapeutically equivalent to the reference listed drug product Trilipix Delayed Release Capsules, 45 mg and 135 mg of Abbvie Inc.

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Idea Cellular in focus after Q4 earnings
May 15,2017

Idea Cellular reported consolidated net loss of Rs 327.70 crore in Q4 March 2017, compared with net profit of Rs 451.70 crore in Q4 March 2016. Revenue from operations declined 14.26% to Rs 8126.10 crore in Q4 March 2017 over Q4 March 2016. The result was announced on Saturday, 13 May 2017.

Among prominent companies, Bata India and Colgate-Palmolive (India) are scheduled to release March quarter earnings today, 15 May 2017.

Hero MotoCorp issued clarification to the stock exchanges with regard to its recent announcement of change in its statutory auditors. The company had announced on 10 May 2017 regarding the appointment of BSR & Co. LLP, as statutory auditors in place of existing auditors Deloitte Haskins & Sells, subject to approval of shareholders at the ensuing annual general meeting (AGM).

With regard to the aforesaid announcement, Hero MotoCorp submitted further details of audit firm BSR & Co. LLP viz. the firms registration number, registered office and information like other affiliates to the firm. The announcement was made after market hours on Friday, 12 May 2017.

Corporation Bank announced its tenor based marginal cost of funds based lending rate (MCLR) for all new rupee loans and advances including renewals with effect from 15 May 2017. The banks MCLR for overnight loans will be 8.2%, for one month will be 8.2% and for three months will be 8.3%. The MCLR on 6-month loans will be 8.65% and for one-year loans the rate would be 8.75%, the bank said. The announcement was made after market hours on Friday, 12 May 2017.

Sical Logistics board of directors at its meeting held on 12 May 2017, approved the proposal to initiate the process to acquire majority equity stake in a company in the express logistics business with an annual revenue of Rs 40 crore and to execute necessary agreements to proceed further in this regard.

The board also approved the proposal to initiate the process to acquire majority stake in a company in the warehousing and distribution business with annual revenue of Rs 20 crore and to execute necessary agreements to proceed further in this regard. The announcement was made after market hours on Friday, 12 May 2017.

NBCC (India) said it has secured the total business of Rs 315.24 crore in the month of April 2017. The announcement was made after market hours on Friday, 12 May 2017.

Tata Metaliks announced the time schedules for shutdown of units at its plant. The MBF#2 unit will be shut from 15 May to 27 May 2017. The Sinter Plant unit will remain closed from 22 May to 25 May 2017. The CPP3 unit will be closed from 24 May to 25 May 2017. The CPP2 unit will be shut from 15 May to 23 May 2017. The announcement was made at the fag end of market hours on Friday, 12 May 2017.

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Idea Cellular reports consolidated net loss of Rs 327.70 crore in the March 2017 quarter
May 13,2017

Net loss of Idea Cellular reported to Rs 327.70 crore in the quarter ended March 2017 as against net profit of Rs 451.70 crore during the previous quarter ended March 2016. Sales declined 14.26% to Rs 8109.10 crore in the quarter ended March 2017 as against Rs 9458.00 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 399.70 crore in the year ended March 2017 as against net profit of Rs 2728.10 crore during the previous year ended March 2016. Sales declined 1.01% to Rs 35552.70 crore in the year ended March 2017 as against Rs 35916.40 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales8109.109458.00 -14 35552.7035916.40 -1 OPM %27.0935.25 -28.9033.32 - PBDT1281.602573.60 -50 6963.9010506.20 -34 PBT-706.90695.90 PL -863.304250.10 PL NP-327.70451.70 PL -399.702728.10 PL

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Medinova Diagnostic Services reports consolidated net profit of Rs 0.70 crore in the March 2017 quarter
May 13,2017

Net profit of Medinova Diagnostic Services reported to Rs 0.70 crore in the quarter ended March 2017 as against net loss of Rs 0.65 crore during the previous quarter ended March 2016. Sales declined 24.44% to Rs 2.01 crore in the quarter ended March 2017 as against Rs 2.66 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 1.29 crore in the year ended March 2017 as against net loss of Rs 1.90 crore during the previous year ended March 2016. Sales rose 3.60% to Rs 8.35 crore in the year ended March 2017 as against Rs 8.06 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales2.012.66 -24 8.358.06 4 OPM %-12.946.77 -0.60-0.50 - PBDT-0.53-0.07 -657 -0.85-0.37 -130 PBT-1.19-0.89 -34 -3.48-2.29 -52 NP0.70-0.65 LP -1.29-1.90 32

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Atul Auto standalone net profit declines 42.86% in the March 2017 quarter
May 13,2017

Net profit of Atul Auto declined 42.86% to Rs 6.20 crore in the quarter ended March 2017 as against Rs 10.85 crore during the previous quarter ended March 2016. Sales declined 19.98% to Rs 103.28 crore in the quarter ended March 2017 as against Rs 129.07 crore during the previous quarter ended March 2016.

For the full year,net profit declined 21.27% to Rs 37.32 crore in the year ended March 2017 as against Rs 47.40 crore during the previous year ended March 2016. Sales declined 10.57% to Rs 472.20 crore in the year ended March 2017 as against Rs 528.01 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales103.28129.07 -20 472.20528.01 -11 OPM %9.9613.42 -12.6814.45 - PBDT10.3017.39 -41 61.8076.82 -20 PBT8.8716.09 -45 56.5271.53 -21 NP6.2010.85 -43 37.3247.40 -21

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