Pidilite FY-01 net profit at Rs 479.50 million

Pidilite Industries Ltd has posted a net profit of Rs 479.50 million for the year ended March 31, 2001 as against Rs 475.70 million for the same period for the last fiscal. Total income has increased from Rs 3958.90 million for FY-2000 to Rs 4462.50 million for the FY-2001. The Board of Directors has recommended a Dividend of Rs 4.50 per equity share subject to approval of shareholders at the Annual General Meeting.

Asahi India Safety Glass announces Bonus issue, 55% Dividend

Asahi India Safety Glass Ltd has informed BSE that the Board of Directors of the Company at its meeting held today (May 25, 2001) has recommended the issue of fully paid Bonus Shares of the equity shareholders through capitalization in the proportion of one equity share for every one equity share held by them. The Company is to fix the Record Date for this purpose. The Board has also recommended a Dividend of 5.50 per share (55%) in respect of 3.70 million equity shares of Rs 10 each for the financial year 2000-01. The Company has also fixed the period from July 21, 2001 to July 27, 2001 as the Book Closure for the purpose of AGM and Dividend.

Jindal Iron & Steel posts Rs 965.20 million as net loss for FY-01

Jindal Iron & Steel Company Ltd has posted a net profit of Rs 965.20 million for the year ended March 31, 2001 as compared to a net profit of Rs 87 million reported last fiscal. Total Income for the year ended March 31, 2001 is higher at Rs 15427.90 million as against Rs 11875.70 million for the year ended March 31, 2000. The Company has reported that in accordance with the mandatory accounting standard of ICAI, the Company has changed its accounting policy relating to Borrowing Costs. Accordingly, ancillary costs incurred in connection with the arrangement of borrowing & prepayment charges of loans which were hitherto treated as a deferred revenue expenditure, to be written off proportionately over a period of five years, are now recognised as an expense in the period in which they are incurred. As a result of these changes, loss for the year is higher by Rs. 60.921 million.

Gesco Corporation FY-01 net profit at Rs 51.08 million, Income from Operations rise 30.78%

Gesco Corporation Ltd has posted a net profit of Rs 51.08 million for the year ended March 31, 2001 as compared to Rs 51.39 million for the year ended March 31, 2000. Income from Operations are higher at Rs 219.05 million as against Rs 167.50 million for the year ended March 31, 2000. Other Income is at Rs 41.28 million for the year ended March 31, 2001 as compared to Rs 58.27 million for the year ended March 31, 2000. The Board of Directors of the Company has recommended a Dividend of Rs 1.20 per share (12%) for the year ended March 31, 2001.

Mirc Electronics FY-01 net down by 35.51%, Net Sales down by 10.28%

Mirc Electronics Ltd has posted a net profit of Rs 297.30 million for the year ended March 31, 2001 as compared to Rs 461 million last fiscal. Total Income for the year ended March 31, 2001 is at Rs 7257 million as compared to Rs 7998.40 million for the year ended March 31, 2000. The Board of Directors has recommended a final Dividend of 20% (Rs 2 per share) for the year ended March 31, 2001 in addition to the three Interim Dividends of 50% (Rs 5 per share) already paid during the year. The Company has also reported that Other Income of Rs. 104.80 million of the current year comprises of remission of sales tax loan liability of Rs. 44.88 million under the Government of Maharashtra, Sales Tax Incentive Scheme & Rs. 28.87 million of sales tax refund for the earlier years, which are non-recurring in nature.

Alfa Laval shareholders dissent acquisition of indirect control by its parent company

Alfa Laval (India) Ltd has informed BSE that the special resolution placed before the shareholders of the Company at the Extra-Ordinary General Meeting held on May 24, 2001 seeking their approval and ratification of the indirect acquisition of control over the Company by Alpha Laval International AB has been dissented by a majority thereof.

Fire at Rallis India Ankleshwar Plant

Rallis India Ltd has informed BSE that a fire has broken out at the Company's Ankleshwar Plant Unit II today (May 25, 2001) morning. The fire has been extinguished within an hour. The cause of the fire appears to be leakage of an inflammable gas from one of the fractionating columns of a small unit manufacturing an intermediate chemical CMAC, which is used for the manufacture of Cypermethrin. The plant is located at a distance from the other manufacturing units of Rallis at Ankleshwar, and consequently no other unit is affected. The cause of the fire is under investigation. The Company has also reported that seven of the Company's workers suffered burn injuries and have been rushed to the best hospital in Surat for immediate medical treatment. The damage caused by the accident is estimated to be negligible. The insurance cover, both for fire damage to assets and for loss in profits, are in place and are being expeditiously processed. A senior management team, headed by Mr. Rajeev Dubey CEO, has been rushed to Surat and Ankleshwar, to ensure that full support is provided to the affected workers and to supervise the expeditious return to normalcy of the plant.

Underwriters exercise greenshoe option on Satyam ADS

Satyam Computer Services Ltd has announced today (May 25, 2001) that the Company has completed the closing of over-allotment option granted to the underwriters of Satyam's recent ADS offering. The underwriters have fully exercised their over-allotment option to buy 2175000 ADSs (15% of the initial 14.5 million ADSs issued by Satyam on May 18, 2001) at the initial public offering price of $9.71 per ADS. Each ADS represents two Satyam equity shares. Including the over-allotment issuance, a total of 16,675,000 ADSs representing 33,350,000 equity shares have been issued in the offering, for aggregate gross proceeds (inclusive of discounts and expenses) of $161,914,250. Satyam ADSs were listed for trading on the New Stock Stock Exchange on May 15, 2001.

Atul Ltd posts Rs 147.50 million as net profit for FY-01, Sales rise 11.67%

Atul Ltd has posted a net profit of Rs 147.50 million for the year ended March 31, 2001 as against a net loss of Rs 50.90 million last fiscal. Total Income for the year ended March 31, 2001 is at Rs 5522.70 million as against Rs 4948.60 million for the year ended March 31, 2000. The Board has recommended a dividend of Re 1 per share on 2,96,61,653 equity shares of Rs 10 each amounting to Rs 29.66 million and Dividend Tax amounting to Rs 3.025 million.

Nestle Board to consider Interim Dividend

Nestle India Ltd has informed BSE that a meeting of the Board of Directors of the Company is scheduled to be held on June 08, 2001 to consider the declaration of Interim Dividend for the year 2001.

Pentamedia Graphics to merge its three subsidiaries into one entity

Pentamedia Graphics Ltd has informed BSE that three of its wholly owned subsidiaries, namely Media Dreams Ltd, Mayajaal Ltd, & Kris Srikkanth Sports & Entertainment Ltd., are being merged into one entity. To this effect Media Dreams Ltd., has obtained a change of name and the legal formalities are in process. The combined entity is expected to be called " Penta Entertainment Ltd.," Mayajaal and Kris Srikkanth Sports and Entertainment are being amalgamated into Penta Enterainment Ltd ( Formely Media Dreams Ltd.)The Company believes that the synergies into Penta Entertainment Ltd to secure the Company's strong footing in the entertainment industry and optimise shareholder value.

HPCL Q4 net up by 21.63%, FY-01 net up by 2.89%

Hindustan Petroleum Corporation Ltd has posted a net profit of Rs 3264.80 million for the quarter ended March 31, 2001 as compared to Rs 2684.10 million in the corresponding period last fiscal. Total Income for the quarter ended March 31, 2001 is at Rs 128566.30 million as against Rs 107176.80 million for the quarter ended March 31, 2000. Net Profit for the year ended March 31, 2001 is at Rs 10880.10 million as compared to Rs 10574.10 million for the year ended March 31, 2000. Total Income for the year ended March 31, 2001 is at Rs 490313.50 million as compared to Rs 339589.50 million for the year ended March 31, 2000. The Board of Directors of the Company has recommended a Dividend of 100 per cent ie Rs 10 per share.

Garware Wall Ropes FY-01 net up by 10.50%

Garware Wall Ropes Ltd has announced a net profit of Rs 87.05 million for the year ended March 31, 2001 as compared to Rs 78.78 million last fiscal. Total Income for the year ended March 31, 2001 is higher at Rs 1603.52 million as against Rs 1450.14 million for the year ended March 31, 2000. The Board of Directors of the Company has recommended a Dividend of 20% on equity share capital.

Amtek India Board to call EGM to seek members approval on preferential issue

The Board of Directors of Amtek India Ltd its meeting held today (May 25, 2001) has recommended the issue of 2.60 million equity shares of Rs 10 each for cash at a premium of Rs 65 per share aggregating to Rs 195 million to promoters and their friends, relatives, associates and associated companies by way of preferential offer on firm basis subject to the approval of shareholders of the Company. For this purpose, the Extra Ordinary General Meeting has been scheduled to be held on June 21, 2001.

Kochi Refineries to seek shareholders approval for issue of shares to CRBL shareholders

The Board of Directors of Kochi Refineries Ltd, at its meeting held on May 21, 2001 has recommended for issue of 0.30 million shares of Rs 10 each to the shareholders of Cochin Refineries Balmer Lawrie Ltd (CRBL) in the ratio of one equity share of the Company for every twentyfive equity shares held by them in CRBL as on June 16, 2001 (Record Date which had been fixed for the purpose) to the shareholders of the Company for their approval at the ensuing Annual General Meeting scheduled to be held on September 19, 2001 under Section 81(1-A) of the Companies Act, 1956. The said issue is pursuant to the scheme of amalgamation of CRBL with the Company.

Menon Bearings FY-01 net down by 18.73%

Menon Bearings Ltd has posted a net profit of Rs 18.18 million for the year ended March 31, 2001 as against Rs 22.37 million for the year ended March 31, 2000. Total Income is down from Rs 147.53 million in FY-00 to Rs 142.56 million for current financial year. The Board of Directors of the Company has recommended a Dividend of 10 per cent for the current year.

Cybertech Systems shareholders approve amalgamation of its 100% subsidiary

Cybertech Systems & Software Ltd has informed BSE that the shareholders of the company have approved amalgamation of CyberTech Information and Systems (I) Ltd., the 100% wholly owned subsidiary with the Company.

CanFin Homes Q4 net up by 42.15%, FY-01 net up by 19.74%

Can Fin Homes Ltd has posted a net profit of Rs 47.69 million for the quarter ended March 31, 2001 as compared to Rs 33.55 million in the corresponding period last fiscal. Total Income for the quarter ended March 31, 2001 is at Rs 347.49 million as against Rs 296.90 million in the quarter ended March 31, 2000. Net Profit for the year ended March 31, 2001 is at Rs 177.09 million as compared to Rs 147.90 million for the year ended March 31, 2000. Total Income for the year ended March 31, 2001 is higher at Rs 1276.54 million as against Rs 1133.38 million for the year ended March 31, 2000. The Board of Directors of the Company has decided to recommend a Dividend of 23% i.e Rs 2.30 per Equity Share of Rs 10 each.

Asea Brown Boveri clarifies on news item

With reference to the news item appearing in a leading financial daily titled " ABB to buy ally's 49% stake in ABB Lenzoham Services" Asea Brown Boveri Ltd has informed BSE that the purchase of shares relates to those ABB Lenzohm Services Ltd by its parent company in Switzerland which already holds 51% in the said Company. The Company has further clarified that the listed Indian Company i.e Asea Brown Boveri Ltd has no shareholding in the aforesaid Company and therefore this transaction has no direct impact on its shareholders.

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