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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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Gujarat Narmada Valley Fertilisers & Chemicals signs JV agreement with Santosh Agrochem LLP
Sep 21,2016

Gujarat Narmada Valley Fertilisers & Chemicals has signed a joint venture agreement with Santosh Agrochem LLP for setting up of about 345 MTPD Purified Wet Lime Project in a phased manner at Bharuch to be implemented through a JV company in the name of Calciwell Chemtech at an estimated cost of Rs 50 crore.

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Push for Aquaculture as India targets marine products exports worth $5.6 bn in 2016-17
Sep 21,2016

Marine product exports from India are projected to increase nearly 20% to USD 5.6 billion in 2016-17, particularly with strides in aquaculture diversification, quality control, value addition and improved production infrastructuren++ all of which will be demonstrated at the upcoming biennial India International Seafood Show (IISS) in Vishakhapatnam.

The Marine Products Export Development Authority (MPEDA), the broad fisheries sector coordinating agency under the Ministry of Commerce, expects the industry will reverse the decline from last fiscal when total seafood exports stood at 945,892 MT worth US$ 4.7 billion.

IISS 2016, the 20th edition of one of the oldest and largest seafood events in Asia which will be on from September 23-25, is focusing on Safe and Sustainable Indian Aquaculture to highlight the technological advances and sustainable practices followed in capture & culture fisheries in India, to ensure quality of seafood produced for both domestic and export market.

The USA and South East Asia are the major importers of Indian seafood and frozen shrimp continued to be the major export item last year, followed by frozen fish.

Small and marginal farmers in India, who contribute to the bulk of coastal aquaculture are organising to stave off competition from countries such as Thailand and Vietnam by boosting production and adopting global standard marketing strategies such as certification, traceability and eco-labelling.

n++Aquaculture is a very significant area for marine exports as far as India is concerned and our efforts are geared towards greater technology inputs and product diversification in this area,n++ said Dr A Jayathilak, MPEDA Chairman, n++Our higher target for exports this year is in part due to increased production of globally in-demand seafood produce such as Whiteleg Shrimp and Black Tiger Shrimp, and diversification of aquaculture species particularly of Mangrove Crab and Tilapia.n++

The MPEDA is actively supporting shrimp culture through cluster farming approach. More than 10,000 farmers have been organized into aquasocieties that implements Better Management Practices. The aquasocieties also help the farmers access credit, quality seeds, feeds and other inputs, reducing the burden of diseases and improving product quality.

While Aquaculture will be in the spotlight at the IISS 2016, the show will also focus on new technologies, production infrastructure and value-added products. The MPEDA says increasing export of value added exports to about half of the total quantity is a key component of the marine products export plan of India.

IISS 2016, organised by the MPEDA in partnership with the Seafood Exporters Association of India (SEAI) at the Port Trust Diamond Jubilee stadium in Vishakhapatnam, will also be a major platform for business interactions. It is expected to pave the way for foreign direct investment in India and contribute significantly to the Make in India programme.

The event will see participation from countries including USA, United Kingdom, Spain, Belgium, Finland, Sweden, Japan, Vietnam, The Netherlands, Thailand, Vietnam, Taiwan, Germany and China.

International and domestic exhibitors will showcase their products and services to a potential global market and explore leads and partnerships. Of the 290 stalls booked at the exhibition, more than 70 are from foreign companies.

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Mahindra & Mahindra gets ratings for NCDs and other debt instruments
Sep 21,2016

Mahindra & Mahindra announced that CRISIL has assigned its CRISIL AAA/Stable rating to the Rs. 475 crore non-convertible debentures of Mahindra & Mahindra while reaffirming the existing instruments and facilities at CRISIL AAA/Stable/CRISIL A1+.

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Scanpoint Geomatics gets extension to hold AGM
Sep 21,2016

Scanpoint Geomatics announced that the Company had made an application to Registrar of Companies, Gujarat (RoC) u/s 96 of the Companies Act, 2013 to grant extension of time to hold Annual General Meeting for the year ended 31 March 2016.

RoC has approved the application and grated extension of time up to 2 months i.e. up to 30 November 2016. A copy of the said order is enclosed.

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Titan Company announces resignation of nominee director
Sep 21,2016

Titan Company announced that pursuant to intimation by Tamilnadu Industrial Development Corporation (TIDCO), K. Gnanadesikan, nominee of TIDCO has resigned from the Board of Directors of Titan Company.

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Heritage Foods commissions 2nd wind power plant of 2.1 MW
Sep 21,2016

Heritage Foods has commissioned 2nd wind power plant 2.1 MW capacity at Vajrakarur, Ananthapur District, Andhra Pradesh on 20 September 2016 for captive consumption.

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Suryavanshi Spinning Mills announces resignation of director
Sep 21,2016

Suryavanshi Spinning Mills announced that R. Surender Reddy, Independent Director has resigned from Directorship of the Company with effect from 19 September 2016 due to his other preoccupations.

Consequent to his resignation to the directorship of the Company, R. Surender Reddy also ceases to be the member of Audit committee and Nomination and Remuneration committee of the company with effect from 19 September 2016.

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Insecticides India gets revision in ratings for bank facilities
Sep 21,2016

Insecticides India has received revision in ratings for debt instruments/ bank facilities worth Rs 650 crore of the Company from CRISIL.

Long term Rating - CRISIL A / Stable (Outlook revised from Negative and Rating reaffimed)

Short term rating - CRISIL A1 (Upgraded from CRISIL A2+).

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Insecticides India announces resignation of directors
Sep 21,2016

Insecticides India announced that Gopal Chandra Agarwal and Navneet Goel has submitted the resignation from the designation of Independent Director to the Company and the Company has accepted their resignations from the designation of Independent Directors with effect from 21 September 2016.

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BEML wins QCI-DL Shah National Quality Award 2016
Sep 21,2016

BEML has won the prestigious QCI-DL Shah National Quality Award 2016 at New Delhi for its presentation on metro quality assurance with a case study on Optimisation of painting process parameters for metro car interior parts.

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Major Boost for Coastal Transportation of Vehicles Through Ro-Ro Vessels
Sep 21,2016

Promotion of costal shipping is one of the major thrusts of the Ministry of Shipping. In order to promote transportation of automobiles through coastal shipping, Ministry of Shipping has decided that all Major Ports will provide discount of 80 per cent for two years on Vessel Related Charges (VRC) & Coastal Related Charges (CRC) for coastal transportation of vehicles through Ro-Ro Ships. This discount is also extended to other similar ships such as Ro-Pax, PCC, PCTC, PTC etc. An order in this regard has been issued on 20th September, 2016. In order to make this discount sustainable for the Shipping Service Providers, the Major Ports will also carry out intensive marketing for demand generation.

As per the earlier scheme, coastal vessels including Ro-Ro vessels used to get a discount of 40 per cent over that of the foreign going vessels. With increase in discount to 80 per cent, it is expected that the Shipping Service Providers will be able to attract more auto-mobile cargo through the coastal route and decongest the already congested roads and railways and also make the Ro-Ro ship service operations more sustainable.

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Edelweiss Financial Services gets ratings assigned for proposed ST debt
Sep 21,2016

Edelweiss Financial Services announced that CRISIL has assigned the rating of CRISIL A1+ (CRISIL A one plus) to the proposed Short Term Debt Issue of Rs. 3000 crore of the Company.

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Union Bank of India acquires 49% stake in Union KBC AMC & Union KBC Trustee Co
Sep 21,2016

Union Bank of India has completed the acquisition of 49% shareholding of Union KBC Asset Management Company and Union KBC Trustee Company from KBC Participations Renta S.A and its affiliates (KBC Asset Management NV) on 20 September 2016. As a results of this acquisition, Union KBC Asset Management Company and Union KBC Trustee Company have become wholly owned subsidiaries of the Bank.

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Godrej Properties acquires land for a residential project
Sep 21,2016

Godrej Properties announced that it has acquired a land parcel measuring approximately 12 acres off Sarjapur Road in South Bangalore. The Company plans to develop a residential housing project of approximately 92,900 sq. mtrs.

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Mangal Credit & Fincorp gets allotted shares of Mangal Extrusion
Sep 21,2016

Mangal Credit & Fincorp announced that Mangal Extrusion has allotted 2,37,500 shares of Rs. 10/- each to the Company.

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