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Amara Raja - Recharge Your Portfolio

Industrial and Automotive Battery major Amara Raja Batteries Limited has announced an impressive quarter-on-quarter growth for Q3 2005. With an overall growth of over 61 per cent, revenue for the quarter stood at Rs. 977.71 million as on December 31, 2005, as against Rs. 605.02 million for the same quarter last year. Profit before Tax (PBT) for the current quarter was Rs. 103.41 million and it was 311 per cent higher than the PBT of Rs. 25.11 million reported in Q3 last year. The Profit after Tax (PAT) for the quarter ended December 31 2005 stood at Rs. 68.6 million as against Rs. 14.24 million for the same period last year, registering an increase of 381 per cent. The growth in revenues and profits in the current quarter has been the result of increase in volumes and market share, both in Industrial and Automotive batteries, a company release said today.

SPEL Semiconductor - More Current

SPEL Semiconductor has reported a 152% jump in net profit at Rs. 69.7 lakh for the third quarter ended December 31, ‘05 over Rs. 27.7 lakh in the same period in the previous year. The company has trimmed accumulated losses to Rs. 3.2 crore from Rs .13.5 crore as of March 31, ‘04. The remaining accumulated losses are expected to be wiped out by Q2 of FY06-07. SPEL has also cleared all its debts after it settled with IFCI in October ‘05. Turnover increased to Rs. 11.3 crore (Rs 8 crore). In the first nine months, net profit declined to Rs 4.1 crore (4.7 crore). Net sales improved to Rs 33.9 crore (Rs 25.9 crore).

Pantaloon - Push for Home Stores

Home Solutions Retail (India), a 100% subsidiary of retail major Pantaloon Retail, aims to close its third year of operation with a topline of Rs 1,000 crore, Raghu Pillai, managing director and chief executive officer, said. Home Solutions is setting up a chain of home stores, dedicated to all things that would be used for setting up, decorating, and furnishing a home. Pillai said the company would fund its expansion with a mix of debt and equity.

In the first phase, the company will be setting up six Home Towns, the company’s umbrella store, in Noida, Hyderabad, Gurgaon, Pune, Thane and Bangalore, which will get operational by June 2007. Each store, involving an average investment of Rs 14 crore, will be spread across 120,000 square feet.

Home Towns would even sell items like paints, tiles, cement, etc, which are normally not sold out of departmental stores. Also available for customers would be services from interior decorator, architect, carpenter and tailor. By June 2006, Home Solutions would set up six independent consumer electronics and appliances stores under the e-Zone brand. It would retail consumer electronics like television, music systems, digital cameras, laptops, etc.

The company is entering the lifestyle furnishing space by setting four ‘Collection i’ stores. These stores would be spread across 15,000-18,000 square feet and involve an investment of Rs 2.5 crore each. On a smaller scale, it is planning to set up ‘Got It’ stores spread across 1,000-2,000 square feet, which would retail ‘home productivity enhancing tools’. “We would sell things like fabric strain remover, basin de-clogger, oil for hinges, etc, from these stores. It is modelled on Dubai’s Ace Hardware,” Pillai said. It would source materials from China.

Sterling Holiday - Going for Global Issue

Sterling Holiday Resorts (India) Ltd has informed that an extraordinary general meeting (EGM) of the members of the company will be held on February 9, to create, offer, issue and allot foreign currency convertible bonds (FCCBs) convertible into equity shares or otherwise, American depository receipts (ADRs), global depository receipts (GDRs) in registered or bearer forms or any such security convertible into equity shares of Rs 10 each (depository receipts) (through depository receipt mechanism) and / or convertible debentures (whether fully convertible or not and whether secured or not and convertible into equity shares at the option of the company and / or the holders of such debentures), and / or equity shares of Rs 10 each and / or depository receipts and / or securities linked to equity and / or securities with or without detachable / non-detachable warrants with a right exercisable by the warrant holder to subscribe for the equity shares and / or warrants with a right exercisable by the warrant-holder(s) to subscribe for equity shares and / or convertible securities linked to equity and / or any other financial instruments (OFIs) and / or any combination of financial instruments for an amount not exceeding US $25 Million subject to necessary approval & provisions.

Surya Pharma - To raise Fund in Overseas Market

Surya Pharmaceutical Ltd said on Friday its board would meet on January 28 to consider raising up to $50 mn in overseas convertible bonds, global depositary receipts or American depositary receipts. The proceeds would be used to set up or acquire a pharmaceutical manufacturing unit in Europe, the company said. The board will also consider a foray into healthcare services such as hospitals, diagnostic centres and medical stores. Shares in Surya Pharmaceutical were 3.4 per cent higher at Rs 143.75 in a firm Mumbai market.