Category: Breaking Corporate India Earnings News

Kishore Biyani’s Pantaloon Retail India Limited is entering the neighborhood store format with – Small Bazaar outlets. This will compete directly with Reliance Fresh, Spinach, Subhiksha, Fresh @ and Bharti-Walmart stores.

Indiabulls Real Estate priced its US$ 360 million GDRs offering on the Luxembourg stock exchange at US$ 10.32 per GDR. Each GDR represents one equity share of the Company of nominal value Rs 2 each. The company has also granted an over-allotment option of up to US$ 40 million to Merill Lynch International.

NSE has banned building fresh derivatives positions in IFCI as 95% of market wide limit had reached in the stock. Trading in IFCI derivatives contracts will only be allowed to reduce positions. The scrip touched a high of Rs 63.40 and low of Rs 59.75 so far during the day. On BSE, 72.94 lakh shares were traded in the scrip.

The stock had average daily volume of 1.33 crore shares on BSE in past one quarter.
The company’s equity capital is Rs 639.99 crore, with 63.99 crore outstanding shares of a face value of Rs 10 each. The scrip gained 36% in one month to 3 July 2007 versus Sensex’s 2.14% rise. It added 98.11% in past three months against Sensex’s 15.80% rise.

Himatsingka Seide has acquired an 80% stake in Divatex Home Fashions Inc. New York through its subsidiary Himatsingka America Inc. The agreement was signed on 01 July 2007 in New York, the enterprise value for the transaction is US$ 75 MM.
Divatex is among the top three distributors of bed linen products in the US.

As Divatex is a large distributor of bed linen products, there will be significant synergies for sourcing requirements from the new US$ 100 MM bed linen facility of Himatsingka at the Hassan Special Economic Zone in Karnataka. The facility has commenced trial production and is likely to commence commercial production in July 2007

The board of GMR Infrastructure has considered and approved the sub-division of existing equity shares of Rs 10/- each into 5 equity shares of Rs 2/- each.

This was decided at the board meeting held on 30 June 2007

Net profit of Trent rose 1.72% to Rs 7.10 crore in the quarter ended March 2007 as against Rs 6.98 crore during the previous quarter ended March 2006. Sales rose 19.79% to Rs 108.57 crore in the quarter ended March 2007 as against Rs 90.63 crore during the previous quarter ended March 2006.

For the full year, net profit rose 32.94% to Rs 32.41 crore in the year ended March 2007 as against Rs 24.38 crore during the previous year ended March 2006. Sales rose 31.56% to Rs 455.78 crore in the year ended March 2007 as against Rs 346.44 crore during the previous ear ended March 2006. Does this mean the slowing down of Retail Sales in India ?

Net profit of Kalyani Forge rose 101.10% to Rs 3.66 crore in the quarter ended March 2007 as against Rs 1.82 crore during the previous quarter ended March 2006. Sales rose 40.48% to Rs 51.05 crore in the quarter ended March 2007 as against Rs 36.34 crore during the previous quarter ended March 2006.

For the full year, net profit rose 6.87% to Rs 11.05 crore in the year ended March 2007 as against Rs 10.34 crore during the previous year ended March 2006. Sales rose 23.40% to Rs 182.72 crore in the year ended March 2007 as against Rs 148.07 crore during the previous year ended March 2006.

Net profit of Unity Infraprojects rose 36.03% to Rs 11.25 crore in the quarter ended March 2007 as against Rs 8.27 crore during the previous quarter ended March 2006. Sales rose 68.52% to Rs 179.09 crore in the quarter ended March 2007 as against Rs 106.27 crore during the previous quarter ended March 2006.

For the full year, net profit rose 72.27% to Rs 42.31 crore in the year ended March 2007 as against Rs 24.56 crore during the previous year ended March 2006. Sales rose 65.13% to Rs 542.86 crore in the year ended March 2007 as against Rs 328.74 crore during the previous year ended March 2006.

Net profit of Cranes Software International rose 20.01% to Rs 25.37 crore in the quarter ended March 2007 as against Rs 21.14 crore during the previous quarter ended March 2006.Sales declined 9.08% to Rs 54.75 crore in the quarter ended March 2007 as against Rs 60.22 crore during the previous quarter ended March 2006.

For the full year,net profit rose 46.42% to Rs 92.89 crore in the year ended March 2007 as against Rs 63.44 crore during the previous year ended March 2006.Sales rose 31.82% to Rs 246.53 crore in the year ended March 2007 as against Rs 187.02 crore during the previous year ended March 2006.

Net profit of Lumax Auto Technologies rose 320.00% to Rs 0.63 crore in the quarter ended March 2007 as against Rs 0.15 crore during the previous quarter ended March 2006.Sales rose 235.91% to Rs 51.73 crore in the quarter ended March 2007 as against Rs 15.40 crore during the previous quarter ended March 2006.

For the full year,net profit rose 2.61% to Rs 2.75 crore in the year ended March 2007 as against Rs 2.68 crore during the previous year ended March 2006.Sales rose 70.02% to Rs 160.35 crore in the year ended March 2007 as against Rs 94.31 crore during the previous year ended March 2006.