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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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Shree Pushkar Chemicals & Fertilizers gets upgradation in credit ratings
Oct 28,2016

Shree Pushkar Chemicals & Fertilizers announced that the ICRA has upgraded their Credit Ratings for Debt Instrument in Short term Ratings from [ICRA] A2+] to [ICRA] A1] and in long term Ratings from [ICRA] A- (Stable)] to [ICRA] A (Stable).

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Board of Sasken Communication Technologies approves buyback of equity shares
Oct 28,2016

Sasken Communication Technologies announced that the Board of Directors of the Company at its meeting held on 27 October 2016 from 4.30 p.m. to 8.30 p.m., inter alia, has unanimously approved the Buy-back of fully paid up Equity Shares by the Company having face value of Rs.10 each (Equity Share) up to 28,24,544 Equity Shares (representing 15.94% of the total paid-up equity share capital of the Company) at a maximum price of Rs.425 (Maximum Buy-back Price) per Equity Share payable in cash for a total consideration not exceeding Rs.12,0.04 crore excluding transaction costs viz. fees, brokerage, applicable taxes such as securities transaction tax, service tax, stamp duty, etc., (Transaction Costs) (hereinafter referred to as Maximum Buy-back Size), which is within the limit of 25% of the total paid-up equity capital and free reserves (including securities premium account) as per the audited accounts of the Company for the financial year ended 31 March 2016, (standalone basis) from all the equity shareholders / beneficial owners of Equity Shares of the Company, as on the record date, on a proportionate basis through the Tender Offer route using stock exchange mechanism as prescribed under Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998 as amended (Buy-back Regulations) and the Companies Act, 2013 (Act) and rules made thereunder (Buy-back), subject to the approval of the shareholders of the Company by way of a special resolution through Postal Ballot and all other applicable statutory approvals. The approval of the members will be sought to authorise the Board of Directors to fix the final Buy-back Price at which the Buy-back will be made at the time of making Public Announcement.

The Public Announcement setting out the process, timelines and other requisite details will be released in due course in accordance with the Buy-back Regulations.

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Tech Mahindra jumps after Q2 results
Oct 28,2016

The result was announced after market hours yesterday, 27 October 2016.

Meanwhile, the BSE Sensex was down 69.89 points, or 0.25%, to 27,846.01.

On BSE, so far 1.26 lakh shares were traded in the counter, compared with average daily volume of 2.93 lakh shares in the past one quarter. The stock hit a high of Rs 443 and a low of Rs 427 so far during the day. The stock hit a 52-week high of Rs 569 on 4 November 2015. The stock hit a 52-week low of Rs 405.10 on 17 October 2016. The stock had underperformed the market over the past 30 days till 27 October 2016, falling 5.83% compared with 1.33% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 14.77% as against Sensexs 0.48% decline.

The large-cap company has equity capital of Rs 486.02 crore. Face value per share is Rs 5.

In dollar terms, the companys consolidated net profit declined 13.4% to $96.5 million on 6.1% growth in revenue to $1.072 billion in Q2 September 2016 over Q1 June 2016. Revenue in constant currency terms rose 5% in Q2 September 2016 over Q1 June 2016.

Vineet Nayyar, Vice Chairman, Tech Mahindra said that the companys performance during the quarter indicates that its early investments in new technologies and capabilities are starting to show result.

C P Gurnani, Managing Director & CEO, Tech Mahindra said that overall, it was a very good quarter with the growth well-supported by its key communications and enterprises businesses. The company had some marquee wins which align very well with its strategy of catering to the connected world, he said.

Tech Mahindra is a specialist in digital transformation, consulting and business re-engineering solutions.

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Outcome of Board Meeting of Sasken Communication Technologies
Oct 28,2016

Sasken Communication Technologies announced that the Board of Directors of the Company at its meeting held on 27 October 2016 have approved the following -

Approved buyback of shares upto 2824544 equity shares (representing 15.94% of the total paid up share capital) at a maximum price of Rs 425 per equity share and total consideration not exceeding Rs 120,04 crore.

The board approved the change in company name to Sasken Technologies subject to approval of shareholders and other regulatory authorities.

The board has decided to exit from ConnectM Technology Solutions, the joint venture company by divesting its holding of 46.29%.

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Sasken Communication Technologies to pay interim dividend
Oct 28,2016

Sasken Communication Technologies announced that dividend of Rs 2.50 per share will be paid on and from 09 November 2016.

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Extension of the validity of Central Order regarding de-hoarding of sugar upto April 2017
Oct 28,2016

The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has given its approval for extending the validity of the existing Central Order in respect of Sugar for a further period of six months from 29 October 2016 to 28 April 2017.

The main objective of the decision is to enable the State Governments to issue control order with the prior concurrence of Central Government, for fixing stock limits/licensing requirements in respect of sugar, whenever need is felt by them. This is expected to help in the efforts being taken to improve the availability of these commodities to general public at reasonable rates, and control the tendencies of hoarding and profiteering.

Background

The Cabinet in its meeting held on 27 April 2016, decided to enable the States to regulate supply, distribution, sale, production, stock, storage, purchase and movement etc. in respect of sugar for a period up to six months up to 28 October 2016. Accordingly, vide Notification No. GSR 1584(E) dated 29 April 2016, Department of Consumer Affairs issued the Removal of (Licensing requirements, Stock limits and Movement Restrictions) on specified Foodstuffs Amendment Order, 2016 for enabling the State Government to impose stock limits on sugar upto 28 October 2016. Subsequently, the said Order was merged with all the existing Orders in respect of essential commodities and a consolidated Order G.S.R. 929(E) dated 29th September 2016 was issued. It has been noticed that the average retail price of sugar has escalated in the recent past, in-spite of adequate availability of sugar stock with the mills. The price rise appears artificial as being mainly due to hoarding of sugar by traders/sugar dealers etc. Such situations in past were dealt with exercising the powers to regulate stock holding limits etc. for sugar. The validity of the current Order in respect of sugar is expiring on 28.10.2016 which caused the reason for further extension of the validity of Central Order GSR No. 929(E) dated 29 September 2016 in respect of sugar up to 28 April 2017.

The current decision will be notified by the Central Government and will be communicated to all the States/UTs. The States/UTs may exercise the powers and issue control orders with prior concurrence of the Central Government.

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Pricol standalone net profit rises 603.60% in the September 2016 quarter
Oct 28,2016

Net profit of Pricol rose 603.60% to Rs 19.56 crore in the quarter ended September 2016 as against Rs 2.78 crore during the previous quarter ended September 2015. Sales rose 37.19% to Rs 320.59 crore in the quarter ended September 2016 as against Rs 233.68 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales320.59233.68 37 OPM %12.266.30 - PBDT38.4613.59 183 PBT30.715.92 419 NP19.562.78 604

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Cholamandalam Investment & Finance Company standalone net profit rises 41.89% in the September 2016 quarter
Oct 28,2016

Net profit of Cholamandalam Investment & Finance Company rose 41.89% to Rs 170.94 crore in the quarter ended September 2016 as against Rs 120.47 crore during the previous quarter ended September 2015. Sales rose 14.00% to Rs 1155.76 crore in the quarter ended September 2016 as against Rs 1013.82 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales1155.761013.82 14 OPM %72.7968.96 - PBDT272.36188.13 45 PBT263.36183.15 44 NP170.94120.47 42

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Binny Mills standalone net profit declines 5.26% in the September 2016 quarter
Oct 28,2016

Net profit of Binny Mills declined 5.26% to Rs 0.18 crore in the quarter ended September 2016 as against Rs 0.19 crore during the previous quarter ended September 2015. Sales rose 12.70% to Rs 2.13 crore in the quarter ended September 2016 as against Rs 1.89 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales2.131.89 13 OPM %13.1515.87 - PBDT0.300.30 0 PBT0.290.29 0 NP0.180.19 -5

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Bhilwara Technical Textiles standalone net profit rises 1270.00% in the September 2016 quarter
Oct 28,2016

Net profit of Bhilwara Technical Textiles rose 1270.00% to Rs 1.37 crore in the quarter ended September 2016 as against Rs 0.10 crore during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 and during the previous quarter ended September 2015.

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EPC Industrie reports standalone net loss of Rs 1.12 crore in the September 2016 quarter
Oct 28,2016

Net Loss of EPC Industrie reported to Rs 1.12 crore in the quarter ended September 2016 as against net loss of Rs 0.14 crore during the previous quarter ended September 2015. Sales rose 9.69% to Rs 45.28 crore in the quarter ended September 2016 as against Rs 41.28 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales45.2841.28 10 OPM %-1.59-0.19 - PBDT-1.090.31 PL PBT-1.75-0.36 -386 NP-1.12-0.14 -700

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Zee Media Corporation reports consolidated net loss of Rs 18.04 crore in the September 2016 quarter
Oct 28,2016

Net Loss of Zee Media Corporation reported to Rs 18.04 crore in the quarter ended September 2016 as against net loss of Rs 19.86 crore during the previous quarter ended September 2015. Sales declined 1.53% to Rs 124.20 crore in the quarter ended September 2016 as against Rs 126.13 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales124.20126.13 -2 OPM %14.495.78 - PBDT7.99-3.75 LP PBT-2.07-16.78 88 NP-18.04-19.86 9

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Inox Leisure consolidated net profit declines 92.66% in the September 2016 quarter
Oct 28,2016

Net profit of Inox Leisure declined 92.66% to Rs 1.56 crore in the quarter ended September 2016 as against Rs 21.24 crore during the previous quarter ended September 2015. Sales declined 3.13% to Rs 278.76 crore in the quarter ended September 2016 as against Rs 287.76 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales278.76287.76 -3 OPM %9.7519.64 - PBDT23.4852.39 -55 PBT2.7132.74 -92 NP1.5621.24 -93

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Gallantt Metal standalone net profit declines 23.32% in the September 2016 quarter
Oct 28,2016

Net profit of Gallantt Metal declined 23.32% to Rs 7.86 crore in the quarter ended September 2016 as against Rs 10.25 crore during the previous quarter ended September 2015. Sales declined 15.53% to Rs 136.68 crore in the quarter ended September 2016 as against Rs 161.81 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales136.68161.81 -16 OPM %9.8510.13 - PBDT12.5315.14 -17 PBT8.3610.67 -22 NP7.8610.25 -23

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Inox Leisure standalone net profit declines 92.53% in the September 2016 quarter
Oct 28,2016

Net profit of Inox Leisure declined 92.53% to Rs 1.59 crore in the quarter ended September 2016 as against Rs 21.29 crore during the previous quarter ended September 2015. Sales declined 3.13% to Rs 278.76 crore in the quarter ended September 2016 as against Rs 287.76 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales278.76287.76 -3 OPM %9.7519.65 - PBDT23.4952.44 -55 PBT2.7232.79 -92 NP1.5921.29 -93

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