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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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VRL Logistics announces resignation of director
May 05,2017

VRL Logistics announces the resignation of S R Prabhu, Non-Executive Director of the Company.

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Expert Panel suggests Corridor - Wise SPVs for developing Dedicated Freight Corridors
May 05,2017

The development of Dedicated Freight Corridors has emerged as one of the key solutions to improving logistics in India. The emphasis here is on connecting centres of economic importance in the most efficient ways using an optimal, multi-modal mix of transport, so that there is consistent and congestion free passage of cargo along key routes. Such efficient transport of cargo will bring about the much needed reduction of logistics cost.

A special session at the India Integrated Transport & Logistics Summit (IITLS) discussed the key issues related to the development of such corridors. The Union Minister of State, Commerce & Industry Smt Nirmala Sitharaman addressed the session that was chaired by NHAI Chairman Shri Yudhvir Singh Malik and co-chaired by Shri. Vinayak Chatterjee, Chairman, CII National Committee on Infrastructure & PPP and Chairman, Feedback Infra Ltd.

As a means for developing an efficient transport system, the panel discussed themes like adopting corridor approach to road development with considerations for logistics and last mile connectivity , need for comprehensive ecosystem to promote coastal shipping, adopting global models to accelerate development of inland terminals and whether coastal shipping & inland waterways will drive the next wave of logistics cost transformation

India has invested heavily in developing its road network over the last 25 years. India has a network of about 5.25 million km of roads, accounting for about 60% of total freight movement. However, National Highways, the most important links in the Indian road network carrying 40% of total traffic movement, account for just 2% of the total road network. The government has taken steps to improve the national highway network by setting up of six corridors (4 legs of Golden quadrilateral, North-South & East-West corridors). These corridors carry 35% of total road freight.

Additionally, with 14,500 km of navigable inland waterways and a 7,500-km coastline, India has an immense potential for inland and coastal transportation. However, transportation through inland waterways has a share of less than 5% in the total logistics volumes. In comparison, China and EU transport about 45% of shipments through inland waterways. There are cost benefits of transportation through waterways and coastal shipping, with cost of these modes being half of competing modes like road and rail.

Government has taken visible steps to promote coastal shipping and inland waterway transport as viable alternates to road and rail by compensating the costs incurred on first mile and last mile connectivity, for the commodities with potential to be moved through inland waterways or coastal network. Government has also announced measures under the Sagarmala program for port-led development of coastal areas to enable multi modal transportation. Further steps like dedicated infrastructure to ensure priority berthing, port tariff rationalization to align rates for major and non-major ports etc. are required to make the value proposition of logistics movement through inland waterways and sea attractive for logistics players.

In his presentation Mr Jose Luis Irigoyen, Senior Director, World Bank Transport & ICT Group emphasized on physical planning, adequate institutions and governance, and apt policy instruments as key enablers for development and management of economic corridors. He also highlighted areas in the corridor development program where World Bank could add value. Shri . Anil Devli CEO, INSA talked about the need to enhance the share of waterways in transport of cargo . Mr. H.F.W. de Leijer Partner, STC NESTRA, Netherlands presented a theoretical framework for the development of economic corridors and showcased the role of inland ports. He also discussed the concept of bundling cargo and presented about internationally adopted best practices.

The panel discussion that followed flagged the importance of administrative and procedural interventions. Members also discussed the constraints and challenges before the railways and ports sectors. The panel talked about several institutional frameworks for the execution of corridor development and among other suggestions, a corridor-wise SPV was discussed.

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Sakuma Exports announces demise of director
May 05,2017

Sakuma Exports announced the sad demise of Chander Mohan, Executive Chairman and Director of the Company on 04 May 2017.

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Parag Milk Foods launches Slurp
May 05,2017

Parag Milk Foods has lauched Slurp with an aim to expand its footprint in the beverages category. Slurp - a pure Alphonso mango drink with a dash of milk will be available across markets of Mumbai, Delhi, Kanpur and Chennai in 200 ml tetra pack at Rs 20/.

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ICICI Bank allots 105,630 equity shares
May 05,2017

ICICI Bank has allotted 105,630 equity shares under ESOS on 05 May 2017.

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Everest Organics gets revision in credit ratings
May 05,2017

Everest Organics announced that ICRA has upgraded and assigned the long term rating from B- Stable to BB- (Pronounced as ICRA double B minus) and Short term rating is [ICRA] A4 same as previous short term rating. The outlook on the long term rating is Stable.

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Multimodal Logistics Parks: Way Forward for Reducing Logistics Cost
May 05,2017

Multi Modal Logistics Parks are the way forward for reducing logistics costs in India, and the Government needs to focus on putting in place the right regulatory and institutional support for building the same. A panel of experts discussed the issue at the India Integrated Transport & Logistics Summit at Vigyan Bhawan in New Delhi yesterday. Developing a network of multimodal logistics parks (MMLPs) to act as logistics hubs will address the issues of unfavorable modal mix, inefficient fleet mix and an underdeveloped material handling infrastructure. Logistics parks are expected to help transition from the current situation of point-to-point freight movement to an ideal situation of hub and spoke model freight movement.The large-scale investment required for developing logistics parks and the need to leverage industry best practices make the PPP model the most viable option. The involvement of a private player will enable access to state-of-the-art technologies available with the private sector and help in achieving efficient delivery of quality operational and maintenance services. Availability of long tenured loans, assistance in land acquisition and quality of trunk infrastructure are some of the other reasons which make the participation of the government critical in the development of logistics parks.

Addressing the session the Union Minister of State for Civil Aviation Shri Jayant Sinha highlighted that both time and cost of logistics need to be considered while planning for efficient logistics. He gave international examples of multimodal integration and talked about developing Guwahati into an efficient multi-modal logistics hub. Shri. Mohammed Jamshed, Member (Traffic), Railway Board also addressed the session and presentations were made by Mr. Robert Brekelmans, Chief Executive Officer, Transforium Company Support and Shri Prakash Tulsiani, Chief Operating Officer, All Cargo Logistics Limited.

The panel discussed issues like success stories of MMLPs in developed economies , Changing economic landscape and the need for MMLP, Impediments for multimodal logistics movement in India changes needed in Multimodal Transportation Act and the need for coordinated action

Multi Modal Logistics Parks are expected to bring down logistics costs by serving four functionalities - Freight aggregation and distribution, Multi Modal freight transportation, Storage and Warehousing with modern, mechanized warehousing space satisfying the special requirements of different commodity groups and value added services: such as customs clearance with bonded storage yards, warehousing management services, etc.

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Board of Shantai Industries approves bonus issue
May 05,2017

Shantai Industries announced that the Meeting of board of directors of Company was held on 05 May 2017. The outcome of the meeting is summarized as under:

1. Board of directors have recommended the issue of bonus shares in the proportion of two bonus equity shares of Rs. 10/- each for every one fully paid up equity share of Rs. 10/- each subject to approval of members at general meeting.

2. The Report of Board of Directors for year ended 31 March 2017 and notice of Annual General Meeting for the year 2017 was approved.

3. A letter of unwillingness received from statutory auditors M/s. Mohit Shah & Associates form being re-appointed at next Annual General Meeting was noted.

4. Disclosure of interest received from directors was taken on record.

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Unified Urban Transport Body and Private Participation in Public Transport Could Help Promote Seamless Urban Mobility
May 05,2017

A panel of experts at the India Integrated Transport & Logistics Summit deliberated on ways and means to make urban transportation faster and more efficient. Growing urbanization has increased the need for efficient and seamless public transport systems. Development of public mass transport systems has picked up recently, with a proposal to build a metro rail system in every city with a population of more than 2 million. Multiple trial runs for BRTS system have also been conducted, with varying degrees of success, to improve the intra city transportation infrastructure. Developments in inter-city rail connectivity are also on the anvil. There is a pressing need to address issues of congestion, especially in view of the growing movement of consumer goods and to deploy new age technologies & practices to improve traffic movement and road safety.

The discussion focused on urban transport policy and role of public-private partnership in improving the same. Strengths and limitations of public and private participants in urban transit was also discussed. Currently, most common PPP model worldwide is government investing in infrastructure and private participants managing operations and maintenance activities. However, most panelists agreed that public transport which requires large investment would also benefit from private participation in infrastructure investment. There is also a need to adopt innovative models like land monetization and advertisement to enhance viability of public transport.

Experts suggested that a unified urban transport body on the lines of Transport for London or the newly founded Riyadh authority can enable integrated and coordinated network and can have huge impact towards seamless urban mobility.

The role of technology in enabling a seamless connectivity and enhancing public transport use was also discussed.

Dr Ekroop Caur ,MD, Bengaluru Metropolitan Transport Corporation (BMTC) highlighted the key initiatives, like network optimization,taken up by her organization in providing adequate transportation in Bangalore. She also highlighted the importance of integrated planning in providing adequate connectivity to commuters.

Shri. Mukund Sinha OSD, Ministry of Urban Development talked about the funding mechanisms in place for public transportation by Government of India and highlighted the importance of transit oriented development.

Shri.M. Ramshekhar, MD, DIMTS talked about the future of mobility and Shri. Shashi Verma ,CTO and Director of Customer Experience, Transport for London highlighted the importance of an integrated authority in providing seamless urban mobility. He also highlighted the measures taken by TFL in enabling safer and greener urban freight mobility.

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Ind-Ra: Volatile Coking Coal Prices May Put Pressure on Steel Sector Spreads
May 05,2017

The volatility in input cost, mainly coking coal prices is likely to keep the steel sector spreads (difference between price and raw material cost) under pressure in FY18, says India Ratings and Research (Ind-Ra). The price of coking coal, a key raw material restarted its up move in April 2017, after softening from the elevated levels of November 2016. Ind-Ra believes the recent surge in prices is temporary and it may soften in the near term, however its unlikely to correct significantly in FY18.

Ind-Ra had highlighted in the report FY18 Steel Outlook: Increased Government Spending will be the Key that the softening of input cost would be a key determinant for the steel sectors profitability. However, price of coking coal has surged by 100% to around USD310/t in April 2017 mom. Ind-Ra believes this may not be fully passed on and could impact profitability in 2QFY18, as for domestic steel producers it takes around two to three months from order to consumption. The sudden surge in coking coal prices in April 2017, is on account of the disruption in exports from Australia a major exporter of coal, due to a cyclone which damaged railway lines connecting mines. Ind-Ra believes that the current situation in Australia is temporary and once the supply situation eases, regular coking coal prices will correct from the current peak, however it may not decline to the lows of USD75/t witnessed in January 2016. However, if coking coal prices remain high without the commensurate opportunity for the players to pass on the increased cost during FY18, the profitability could be severely impacted.

Input prices were volatile even in FY17, with coking coal prices surging 310% between January 2016-November 2016 to USD308/t and thereafter correcting to around USD150/t in March 2017. Despite a correction of around 50%, it remained significantly higher than the low of around USD75/t in January 2016. The exponential surge in input cost can led to a decline in spreads between realisation and raw material prices by around USD40/t-USD50/t in 4QFY17, since the increase in cost could not be fully passed on to the end consumer due to the oversupply situation. The likely impact of the exponential surge in coking coal price in 3QFY17 would have been felt in 4QFY17.

The surge in raw material prices have pushed both international and domestic finished steel prices close to the limits imposed by anti-dumping duty which has now been recommended by Directorate General of Anti-dumping and Allied Duties for five years at marginally higher rates, pending the final notification. The sustained high prices in finished steel in response to the increase in input cost can make the protection infructuous, as the domestic steel sector will open up for international competition and will have a fallout on the profitability of domestic players.

Ind-Ra believes that companies producing a higher proportion of steel through the blast furnace route with a dependence on imported coking coal will be hurt more than players with access to domestic sources of coking coal or those producing steel through the direct-reduced iron route.

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Strides Shasun intimates of successful USFDA inspection of API facility at Puducherry
May 05,2017

Strides Shasun announced that its Active Pharmaceutical Ingredients manufacturing site in Puducherry was recently inspected by USFDA and the approval was renewed with Zero 483 status.

Over the last month, three facilities were inspected by USFDA and cleared with Zero 483 status.
-API facility at Cuddalore
-Oral Dosage facility at Puducherry
-API facility at Puducherry.

The Companys flagship facility (KRSG Gardens) in Bangalore was also inspected and cleared by USFDA in June 2016 without any 483 observations.

With this, the Companys last four USFDA inspections were successfully completed without any observations.

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Board of Agro Tech Foods recommends final dividend
May 05,2017

Agro Tech Foods announced that the Board of Directors of the Company at its meeting held on 3 May 2017, inter alia, have recommended the final dividend of Rs 2 per equity Share (i.e. 20%) , subject to the approval of the shareholders.

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Agro Tech Foods to hold AGM
May 05,2017

Agro Tech Foods announced that the 30th Annual General Meeting (AGM) of the company will be held on 26 July 2017.

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Board of V-Mart Retail recommends final dividend
May 05,2017

V-Mart Retail announced that the Board of Directors of the Company at its meeting held on 3 May 2017, inter alia, have recommended the final dividend of Rs 1.25 per equity Share (i.e. 12.5%) , subject to the approval of the shareholders.

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Board of KPR Mill recommends final dividend
May 05,2017

KPR Mill announced that the Board of Directors of the Company at its meeting held on 3 May 2017, inter alia, have recommended the final dividend of Rs 0.75 per equity Share (i.e. 15%) , subject to the approval of the shareholders.

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