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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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OK Play India to hold board meeting
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OK Play India will hold a meeting of the Board of Directors of the Company on 1 September 2016.

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PTC India Financial Services to hold AGM
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PTC India Financial Services announced that the 10th Annual General Meeting(AGM) of the company on 28 September 2016.

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MFS Intercorp to hold AGM
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MFS Intercorp announced that the th Annual General Meeting(AGM) of the company on 26 September 2016.

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Superior Industrial Enterprises to hold AGM
Aug 29,2016

Superior Industrial Enterprises announced that the 25th Annual General Meeting(AGM) of the company on 22 September 2016.

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Tamil Nadu Telecommunications to hold AGM
Aug 29,2016

Tamil Nadu Telecommunications announced that the 28th Annual General Meeting(AGM) of the company on 27 September 2016.

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SR Industries to hold board meeting
Aug 29,2016

SR Industries will hold a meeting of the Board of Directors of the Company on 4 September 2016 to consider the preferential allotment of 5,00,000 equity shares of Rs. 10/- each and 5,00,000 warrants to the persons belonging to the promoter group on private placement basis.

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Improved export outlook to pull manufacturing growth
Aug 29,2016

FICCIs latest Quarterly Survey on Manufacturing indicates improved outlook for the sector in quarter 2 of 2016-17 (July-September) buoyed by improved outlook in exports. The survey had earlier indicated a slowdown for the first quarter of 2016-17, which seems to be waning. The proportion of respondents expecting higher growth during the July - September quarter has risen to 55% as against 53% for April - June quarter 2016-17, although, it remains much below the percentage of 60% for January - March quarter of the previous fiscal. The slight improvement in the outlook for manufacturing production in second quarter of the current financial year is attributable to various factors including somewhat better outlook for exports compared to previous quarters, and better outlook on domestic demand front too, noted FICCI Survey.

The survey that gauges the expectations of manufacturers for Q-2 (July-September 2016-17) for thirteen major sectors namely auto, capital goods, cement and ceramics, chemicals, electronics & electricals, food products, leather and footwear, machine tools, metal and metal products, metal forging, paper products, textiles and technical textiles and textiles machinery, has shown slight improvement in manufacturing sector over the last few quarters due to number of initiatives taken by Government in the last few months. Responses have been drawn from 308 manufacturing units from both large and SME segments with a combined annual turnover of over ?4 lac crore.

Quarter % of Respondents Expecting Higher Production in the Quarter vis-n++-vis
Respective Last Years Quarter
Q-2 (2016-17) 55% Q-1 (2016-17) 53% Q-4 (2015-16) 60% Q-3 (2015-16) 55% Q-2 (2015-16) 63% Q-1 (2015-16) 44% Q-4 (2014-15) 52% Q-3 (2014-15) 50% Q-2 (2014-15) 62% Q-1 (2014-15) 50% Q-4 (2013-14) 56% Q-3 (2013-14) 52% Q-2 (2013-14) 48% Q-1 (2013-14) 35%

Source: FICCI Survey

In terms of order books, almost half (49%) respondents reported higher order books for the quarter July - September 2016-17 which is more than that of the previous quarter (38%).

Capacity Addition & Utilization

The milder improvement for the quarter gets reflected in terms of investment as for Q-2 201617, 73% respondents as against 75% respondents in previous quarter reported that they dont have any plans for capacity additions for the next six months. Though the proportion standing against expansion plans is still considerably high but is comparatively lower on a quarter-onquarter basis. Uncertain economic environment, unfavourable market conditions, competition from imports, delayed clearances, inadequate infrastructure (especially availability of power) and cost escalation are some of the major constraints which are affecting the expansion plans of the respondents. The average capacity utilization as reported in the survey for the total manufacturing sector is around 76% for Q-1 2016-17, marginally above the 74% for Q-4 201516.

Table: Current Average Capacity Utilization Levels As Reported in Survey

Sector Average Capacity
Utilization (%) in Q-4 2015-16
Average Capacity
Utilization (%) in Q-1 2016-17
Auto 78 77 Capital Goods 71 80 Cement 80 87.5 Chemicals 87 83 Textiles 79 84 Electronics & Electricals 75 65 Food 70 57 Leather & Footwear 57 60 Metals 68 70 Textiles Machinery 60 50 Tyre* 80 NA Paper 87 80 *NA: Not Available due to lack of data

Inventories

Inventory levels remain high with 82% respondents maintaining either more or same levels of inventory as their average inventory levels. This is higher than previous quarter, where 76% respondents reportedly carried either same or more than their average levels of inventory.

Exports

Export outlook for second quarters manufacturing also improved slightly as against the expectations for the first quarter. The proportion of respondents expecting higher exports in the second quarter 2016-17 rose by 5 percentage points to 41% as against 36% in 2016-17.

Hiring

Hiring outlook remains subdued in manufacturing in coming months as three quarters of the participants in Q-2 2016-17 are unlikely to hire additional workforce in next three months. The proportion remains almost similar to that recorded for Q-1 2016-17 (76%).

Interest Rate

Average interest rate paid by the manufacturers still reportedly remains high and sticky. The rate is as high as 15% as per the survey with average interest rate at around 11.5% per annum which is similar to that reported in the previous survey.

Sectoral Growth

Based on expectations in different sectors, the Survey suggests that eight out of thirteen sectors were likely to witness low to moderate growth (less than 10%). Five sectors, namely capital goods, cement and ceramics, chemicals, metal forging and paper products are likely to witness strong growth of over 10% in Q-2 2016-17.

Intec Capital to hold AGM
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Intec Capital announced that the th Annual General Meeting(AGM) of the company on 24 September 2016.

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Seven Hill Industries to hold AGM
Aug 29,2016

Seven Hill Industries announced that the th Annual General Meeting(AGM) of the company on 27 September 2016.

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Syncom Healthcare to hold AGM
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Syncom Healthcare announced that the 14th Annual General Meeting(AGM) of the company on 30 September 2016.

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Revathi Equipment to hold AGM
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Revathi Equipment announced that the th Annual General Meeting(AGM) of the company on 21 September 2016.

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PMC Fincorp to hold AGM
Aug 29,2016

PMC Fincorp announced that the 31th Annual General Meeting(AGM) of the company on 24 September 2016.

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Systematix Securities to hold AGM
Aug 29,2016

Systematix Securities announced that the th Annual General Meeting(AGM) of the company on 26 September 2016.

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Morepen Laboratories to hold AGM
Aug 29,2016

Morepen Laboratories announced that the th Annual General Meeting(AGM) of the company on 23 September 2016.

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VJTF Eduservices to hold AGM
Aug 29,2016

VJTF Eduservices announced that the th Annual General Meeting(AGM) of the company on 30 September 2016.

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