Category: Breaking Corporate India Earnings News

AHCL announced during market hours today, 11 June 2007, that the director, town & country planning, Chandigarh, Haryana, had issued licence for development of approximately 100 acres of residential project of the company at sector 19, Rewari, Haryana. [Ansal Housing is different from Ansal Properties and Infrastructure Ltd]

The integrated township is strategically located close to the Delhi-Jaipur highway. It has an excellent business potential and is in the neighborhood of Gurgaon, one of the prominent IT cities of India. The integrated township is to be named Ansal Town.

The Ansal Town will have in-house amenities like schools, hospitals, clubs and multiplexes. The company will undertake all the development and marketing work of the project. The project is expected to have a turnover of about Rs 150 crore over the next 2-3 years with sizeable profit, the company said.

AHCL’s net profit soared 94.8% to Rs 13.07 crore in Q3 December 2006 compared to Rs 6.71 crore in Q3 December 2005. Sales surged 61.4% to Rs 56.15 crore in Q3 December 2006 (Rs 34.78 crore).

Real-estate development is the main business of AHCL,with focus on low and medium range residential property. It concentrates on the area in and around Delhi with special focus on Noida and Ghaziabad regions of UP.

MSP Steel & Power reported net profit of Rs 9.98 crore in the quarter ended March 2007 as against net loss of Rs 0.78 crore during the previous quarter ended March 2006. Sales rose 119.84% to Rs 69.38 crore in the quarter ended March 2007 as against Rs 31.56 crore during the previous quarter ended March 2006. For the full year, net profit rose 1735.45% to Rs 20.19 crore in the year ended March 2007 as against Rs 1.10 crore during the previous year ended March 2006. Sales rose 149.61% to Rs 210.52 crore in the year ended March 2007 as against Rs 84.34 crore during the previous year ended March 2006.

Net profit of Surana Industries declined 17.86% to Rs 9.38 crore in the quarter ended March 2007 as against Rs 11.42 crore during the previous quarter ended March 2006. Sales rose 10.88% to Rs 277.39 crore in the quarter ended March 2007 as against Rs 250.17 crore during the previous quarter ended March 2006. For the full year, net profit rose 31.19% to Rs 30.75 crore in the year ended March 2007 as against Rs 23.44 crore during the previous year ended March 2006. Sales rose 23.88% to Rs 774.88 crore in the year ended March 2007 as against Rs 625.52 crore during the previous year ended March 2006.

With SENSEX and Nifty in Red, here are the technical support and resistance levels.

Nifty — The index opened on a flat note and exhibited intra-day volatility in 4230 and 4162 band.It ended the day down 18 points.

Support — The index has support around 4141 (low of 25 May 2007) and 4127 (approx.) the level of 4127 is 62% retracement level of the rise from low of 3981(11 May 07) to the recent high at 4363. Intra day Nifty declined towards the 4141 level and witnessed an intra-day bounce.

Resistance — The index faces resistance around 4225 (20dma) and 4257 (10dma), cross above 4225 could see an intra-day bounce towards 4257.

Conclusion — Intra-day pullback will face resistance around 4257.

US-based Suzlon Wind Energy Corporation, the step-down subsidiary of Suzlon Energy, has signed a contract for a total of 300 units of 630 mega watt (MW) of wind turbine capacity with Edison Mission Group of Irvine, California, the USA. The two phase contract calls for delivery of 315 MW of turbine capacity in 2008 and another 315 MW of capacity in 2009.

In May 2007, Suzlon Energy had acquired German wind turbine manufacturer REpower after the French nuclear energy group Areva decided to withdraw from the bidding contest. REpower is one of Germany’s biggest wind-turbine makers and one of the world’s leading companies in wind energy sector.

Suzlon Energy’s net profit rose 21.56% to Rs 437.82 crore in Q4 March 2007 (Rs 360.16 crore). Sales moved up 32.72% to Rs 2055.48 crore in Q4 March 2007 (Rs 1548.71 crore). The net profit rose 29.22% to Rs 1061.14 crore in FY 2007 (Rs 821.19 crore). Sales jumped 42.02% to Rs 5380.37 crore in FY 2007 (Rs 3788.46 crore).

From Rs 1187.65 on 30 April 2007, it had advanced to Rs 1,250.90 by 14 May 2007. But it slipped sharply to Rs 1,138.30 on 15 May 2007 after it reported poor results for Q4 March 2007 during trading hours that day. The scrip again moved up to Rs 1378 by 25 May 2007. It had settled at Rs 1310 on 6 June 2007.

Net profit of PVR rose 93.05% to Rs 10.56 crore in the year ended March 2007 as against Rs 5.47 crore during the previous year ended March 2006. Sales rose 59.28% to Rs 164.09 crore in the year ended March 2007 as against Rs 103.02 crore during the previous year ended March 2006.

Net profit of BASF India declined 26.31% to Rs 3.67 crore in the quarter ended March 2007 as against Rs 4.98 crore during the previous quarter ended March 2006. Sales rose 10.68% to Rs 160.70 crore in the quarter ended March 2007 as against Rs 145.19 crore during the previous quarter ended March 2006. For the full year, net profit rose 10.31% to Rs 50.09 crore in the year ended March 2007 as against Rs 45.41 crore during the previous year ended March 2006. Sales rose 12.59% to Rs 768.53 crore in the year ended March 2007 as against Rs 682.57 crore during the previous year ended March 2006.

Net profit of Cyber Media (India) declined 74.22% to Rs 0.33 crore in the quarter ended March 2007 as against Rs 1.28 crore during the previous quarter ended March 2006. Sales rose 9.45% to Rs 16.56 crore in the quarter ended March 2007 as against Rs 15.13 crore during the previous quarter ended March 2006. For the full year, net profit declined 15.19% to Rs 4.30 crore in the year ended March 2007 as against Rs 5.07 crore during the previous year ended March 2006. Sales rose 22.54% to Rs 66.98 crore in the year ended March 2007 as against Rs 54.66 crore during the previous year ended March 2006.

Clutch Auto said after trading hours on Tuesday, 5 June 2007, JM Financial mutual fund, through its various schemes, has bought a further 0.64% stake in the company. The funds’ combined stake in Clutch Auto has thus risen to 5.5%, the company said.

On 4 April 2007, Clutch Auto confirmed the company was in advanced stage of negotiations with the US-based International Truck and Engine Corporation, manufacturers of Navistar brand of trucks.

Clutch Auto’s net profit jumped 72.68% to Rs 7.08 crore in Q4 March 2007 as against Rs 4.10 crore in Q4 March 2006. Sales moved up 84.32% to Rs 90.96 crore in Q4 March 2007 (Rs 49.35 crore). Net profit scaled up 71.47% to Rs 21.52 crore in the year ending March 2007 as against Rs 12.55 crore in FY 2006. Sales rose 56.75% to Rs 235.50 crore (Rs 150.24 crore).

Clutch Auto manufactures clutches, and components and spares for the automotive sector. Its clientele includes Tata Motors, Maruti Udyog, Escorts Tractors, Bharat Earth Movers and state transport undertakings.