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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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Two Ministries Signed a MoU to Promote Organic Farming on the Banks of River Ganga
Sep 17,2016

The Ministry of Agriculture & Farmers Welfare signed a Memorandum of Understanding (MoU) with Ministry of Water Resources, Water Development and Ganga Rejuvenation to promote organic farming on the banks of river Ganga. According to this agreement, villagers situated on the banks of river Ganga will be encouraged for organic farming.

As per agreement, under the Namami Gange project 1657 gram panchayats situated along the course of river Ganga starting from Uttarakhand to West Bengal, organic farming will be developed in 1657 clusters under the Paramparagat Krishi Vikas Yojana (PKVY). Under this project, Ministry of Agriculture along with cluster formation, will provide training on Integrated Nutrient Management and micro-irrigation techniques.

To promote organic farming on the banks of river Ganga, clusters of gram panchayats will be formed, awareness campaigns will be launched and self help groups will be formed by the Ministry. Apart from this, related information will be provided through mobile applications and awareness will be created among the masses about the side-effects of using chemicals, fertilizers and insecticides in farming will be created. Initiatives will be taken to promote the improved ways of irrigation for water rejuvenation in Ganga valley. Also, organic farming and livestock based livelihood will be promoted on the banks of Ganga river. Ministry of Agriculture is promoting organic farming under the Paramparagat Krishi Vikas Yojana throughout the country especially in north-eastern states.

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Future Lifestyle Fashions incorporates wholly owned subsidiary
Sep 16,2016

Future Lifestyle Fashions announced the incorporation of a wholly owned subsidiary, Future Trendz on 15 September 2016 to inter alia carry on fashion business and related activities.

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NCC announces resignation of director
Sep 16,2016

NCC announced P Abraham, Independent Director on the Board of the Company has resigned as a Director of the Company vide letter dated 07 September 2016 and the same was accepted by the Board vide its circular resolution dated 15 September 2016.

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Fiem Industries to raise funds aggregating Rs 120 crore
Sep 16,2016

Fiem Industries announced that in respect of the Qualified Institutions Placement, the Fund Raising Committee of the Board of Directors has, at its meeting held on 16 September 2016, inter alia, passed the following resolutions:

1. Determining and approving the issue price of Rs. 1,002/- per Equity Share (including premium of Rs. 992/- per Equity Share) after giving a discount of 5% to the Floor Price of Rs. 1054.70/-, for the issuance and allocation of 11,97,604 Equity Shares to eligible qualified institutional buyers in the Qualified Institutions Placement, aggregating upto Rs. 120 crore;

2. Approving and adopting the Placement Document dated 16 September 2016 in connection with the Qualified Institutions Placement (n++Placement Documentn++); and

3. Approving the issue of Confirmation of Allocation Notes to the Qualified Institutional Buyers.

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Coromandel International allots equity shares
Sep 16,2016

Coromandel International announced that on 16 September 2016, the Stakeholders Relationship Committee of the Company has allotted 1,28,990 Equity Shares of Re.1/- each fully paid up under the Employee Stock Option Scheme 2007.

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Greaves Cotton announces cessation of director
Sep 16,2016

Greaves Cotton announced that Sunil Pahilajani, vide his letter dated 15 September 2016, has tendered his resignation as Managing Director & CEO of the Company, due to personal reasons. The resignation is effective from the close of the business hours on 15 September 2016.

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Flexituff International appoints director
Sep 16,2016

Flexituff International announced that Mahesh Sharma, Chief Executive Officer of the Company has been appointed as Additional Director on Board of the Company w.e.f. 16 September 2016 by way of resolution passed by circulation by the Board of Directors of the Company.

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Vipul provides update on its Aarohan Project in Gurgaon
Sep 16,2016

Vipul has received Environmental Clearance from State Environment Impact Assessment Authority, Haryana for its project Aarohan on Golf Course in Gurgaon. By June 2016, they has already sold more than 26% of flats in Phase 1 of the project.

Further, the Company had raised debt from DMI Finance to the tune of Rs 175 crore. The money was utilised toward pre-operative expenses of Project Aarohan. With permissions now in place and construction likely to occur soon, the Company has received sanction of loan of Rs 275 crore from PNB Housing Finance. Part of this loan, will be utilised towards pre-payment of debt from DMI.

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Jyoti Structures provides update on subsidiary
Sep 16,2016

Jyoti Structures announced that Jyoti Americas LLC (JAL), a wholly owned subsidiary of the Company, has been advised in compliance with applicable law, to inform all employees not to report for work effective 14 September 2016 until further notice, as JAL will not be able to meet payroll due to temporary cash flow situation.

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Arnold Holdings fixes record date for bonus issue
Sep 16,2016

Arnold Holdings has fixed 28 September 2016 as the Record Date for the purpose of Bonus Issue.

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NOCIL allots equity shares
Sep 16,2016

NOCIL has allotted 11,39,400 equity shares of Rs 10 each on exercise of stock options under ESOS -2007 on 12 September 2016. With this allotment, the paid up equity capital stands at 16,19,26,380 equity shares of Rs 10 each.

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Board of Prism Informatics approves rights issue
Sep 16,2016

Prism Informatics announced that the Board of Directors of the Company at its meeting held on 16 September 2016 has approved raising of funds by way of offer and issue of equity shares to existing shareholders of the Company on rights basis (rights issue).

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Sadbhav Infrastructure Projects gets reaffirmation of ratings for NCDs
Sep 16,2016

Sadbhav Infrastructure Projects has received reaffirmation of credit ratings from CARE as under -

NCD (Rs 140.54 crore) - CARE A+ (SO)
NCD (Rs 160 crore) - CARE A+ (SO)
NCD (Rs 200 crore) - CARE A+ (SO)

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Viaan Industries fixes record date for bonus issue
Sep 16,2016

Viaan Industries has fixed 29 September 2016 as Book Closure date for the purpose of Bonus shares in the ratio of 2:1 (i.e. in the proportion of 2 (two) new equity shares of Rs. 10/- each for every 1 (one) existing fully paid up equity share of Rs.10/- each).

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Precision Electronics announces cessation of director
Sep 16,2016

Precision Electronics announced Pradeep Kumar Kanodia having ceased to be a director on the Board on his retirement at the Annual General Meeting of the Company held on 15 September 2016.

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