Shasun Net Up 45 % At Rs 6.17 cr
Shasun has reported a growth of 44.84 per cent growth in its net profit at Rs 6.17 crore for the quarter ended June 30, 2006, compared with Rs 4.26 crore during the corresponding period of the previous fiscal. Net sales of the company for the quarter grew by 28.73 per cent to Rs 99.46 crore from Rs 77.26 crore. Gross profit grew 20.65 per cent to Rs 14.90 crore from Rs 12.35 crore.
Subros Q1 Net Up 30%
Subros Limited today reported 30 per cent increase in net profit to Rs 5.95 crore for the quarter ended June 30,2006 from Rs 4.57 crore in the corresponding quarter last year. Sales for the quarter was Rs165.37 crore, up 11 per cent from Rs 154.20 crore in the corresponding quarter last year.
Emami Q1 Profit Up By 11% To Rs 8.5 Crore
Personal care product major Emami Ltd has posted 11.4 per cent jump in net profit to Rs 8.5 per cent for the quarter ended June 30, 2006 compared with Rs 7.64 crore in the quarter ended June 30, 2005. Turnover rose 38 per cent to Rs 68 crore.
ITC Q1 PAT up 16%
ITC Ltd has reported 16 per growth in PAT (profit after tax) for the first quarter of the current financial year ended June 30, 2006 at Rs 652 crore on the back of net income of Rs 2,934 crore in the same period against PAT of Rs 558 crore and turnover of Rs 2,351 crore in Q1 of 2005-06. The company’s PBT (profit before tax) for the June quarter was Rs 967 crore, while depreciation absorbed Rs 87 crore, against PBT of Rs 830 crore and depreciation of Rs 80 crore in Q1FY06. The company did not include in its results released today the impact of provisioning of Rs 449 crore in respect of disputed state taxes, the levy and collection of which had been stayed. Its earnings per share edged up to Rs 1.74 on expanded paid-up equity capital of Rs 375 crore in Q1FY07 from Rs 1.49 on equity of Rs 249 crore in Q1FY06.
ITC’s revenue from the cigarette business touched Rs 3,159 crore and that from its non-cigarette FMCG business Rs 359 crore in the June quarter of 2006-07, with the cigarettes division reporting PBT of Rs 815 crore and the other FMCG business a loss of Rs 58 crore. In comparison, revenue from the cigarette business was Rs 2,843 crore and that from the non-cigarette FMCG business Rs 200 crore in Q1FY06, with the cigarettes reporting PBT of Rs 694 crore and the other FMCG business group a loss of Rs 54 crore.
Revenue from the hotels business touched Rs 198 crore in Q1FY07, with PBT at Rs 57 crore against the Q1FY06 revenue at Rs 146 crore and PBT of Rs 56 crore, indicating pressure on margins. The paperboards, paper and packaging division of the company reported revenue of Rs 501 crore in Q1FY07 and PBT of Rs 104 crore against revenue of Rs 460 crore and PBT of Rs 89 crore in Q1FY06. The agri-business division reported revenue of Rs 1,111 crore in the June quarter of 2006-07 and PBT of Rs 47 crore against revenue of Rs 753 crore and PBT of Rs 36 crore in the comparable period of 2005-06.
Overall non-cigarette revenues touched 50.2 per cent of its turnover. ITC also restated profits of the previous financial year, by reporting a once-off income of Rs 26.77 crore for the quarter ended June 2005 following the settlement with the owners of the Searock Hotel in Mumbai.
Mcdowell Limited announces Q1 results, Revenue up 20%, EBIDTA up 117%, PBT up 212%
McDowell & Co. Ltd. announced excellent results for the first quarter of fiscal 2007. Profit before tax is up by 212% on a revenue increase of about 20%. Earnings before Interest, depreciation and tax, at Rs.77.5 crore for the quarter registered an increase of about 117% from the corresponding period of the previous year.
Reflective of the improved trading conditions, the Proforma aggregated results of the Companies being combined to form UNITED SPIRITS LIMITED also show a nearly 70% increase in EBIDTA to Rs.104.5 crore. Profits before tax for the combined entities stood at Rs.73 crore, an increase of 168% over the previous year.
The Company has initiated a drive to de-emphasize the less profitable second line brands with the intent of driving value rather than volume. This refocusing has helped McDowell & Company to record, a 7% increase in the volume of its profitable first line brands. While the costs of the primary raw material, namely spirit, have come down from its peak price of a year ago, a slight upturn is visible in the prices of recent purchases. The Company has cushioned the impact of "Off Season" cost pushes through maintenance of judicious inventory levels. There have been some changes to operational practices whereby the Company purchases finished goods manufactured at its contract manufacturing units for sale under its own invoices as opposed to the previous practice of capturing only the economic surplus. The practice has commenced selectively and will be extended wherever local legislation permits.
The quarter under review has seen the start of the Company’s international forays with two acquisitions. To facilitate the entry into the high growth wine market in India and also to facilitate acquisition of distribution muscle in many potential overseas markets, the Company has acquired Bouvet Ladubay located in France. Bouvet, a company established in 1851, has an outstanding portfolio of Sparkling $ Still wines which are currently sold in USA, France, Germany, UK. etc. The Bouvet wine will be progressively introduced into India both as Bottled in Origin packs as well as Bulk wines for domestic bottling. The Company will explore ways to leverage the existing Bouvet network in Europe for export of select varieties of its Indian products. The cost of the acquisition is approximately Euro 15 Million.
With the view to ensuring continuity of supply of Scotch at affordable prices to cater to the future growth, in India, the Company has decided to set up a Scotch maturation facility in Scotland. This will enable the Company to purchase fresh grain and malt spirits at economic prices and mature them in-house to suit the age profile required in India. These facilities are being set up on the grounds of a Company - McDowell & Co. (Scotland) Ltd., located in Perthshire, Scotland.
McDowell, the transferee company, has obtained the approval of the Karnataka High Court for the proposed merger / demerger involving the consolidation of the. operating Spirits companies, viz., Herbertsons Ltd., Triurnph Distillers & Vintners Ltd., Shaw Wallace Distilleries Ltd., Baramati Grape Industries Ltd and United Distillers India Ltd., with McDowell & Co Ltd., to form United Spirits Limited (USL). The expectation is that the final approvals with, respect to the transferor companies will be received shortly thereby paving the way for completion of the merger process by September 2006 and listing thereafter.
GHCL income up 19%, Operating Profit up 46%, PAT up 45%
GHCL has declared the second quarter results for year 2006. For quarter ended June 30, 2006 GHCL income is up 19% at Rs.165.69 Crores, operating profit up by 46% at Rs.64.84 Crores and net profit up 45% at Rs.31.04 Crores. The diluted EPS for Q1 is at Rs.3.12 compared to last year´s Rs.2.26.
Commenting on the performance for Q2 FY2006 ended June 2006, Mr.Sanjay Dalmia, chairman GHCL Ltd said: "We have had an excellent performance driven by the improved efficiencies in the soda ash´s production arena duly supported by the increase in the prices of it and volume growth. We are looking forward to a strong growth in the coming quarters on the back of successful integration of our overseas-acquired capacities and markets both in the area of textiles and soda ash. We are sensing an attractive business opportunity with global reach and our strength to replicate the Indian success of being the lowest cost producer of soda ash to overseas locations as well.
In the home textiles, GHCL now possesses the ideal combination of being a low cost strong manufacturing base (India) with a large established marketing platforms (Rosebys and Dan River) to put the company on the fast track growth. Given the strength of our operations and encouraging levels of customer demand, we remain positive on the performance out look going forward."
