Category: Breaking Corporate India Earnings News

The board of Mount Everest Mineral Water will issue and allot to Tata Tea 50.99 lakh shares of the company at a price of Rs 140 per share on preferential allotment basis to Tata Tea. The announcement was made by the company after trading hours on Friday, 1 June 2007.

The board also approved Tata Tea’s proposal to acquire 31.10 lakh shares of Mount Everest Mineral Water from Foresight Holdings and Vinod Sethi, promoters of MEMW, and Salim Govani, MEMW Managing Director, at Rs 140 per share.

MEMW announced on 19 March 2007, that it is entering into a distributorship agreement for marketing an energy drink under the brand name ‘Power Horse’ in India.

The net profit declined 38.2% to Rs 0.34 crore in Q3 December 2006 as against Rs 0.55 crore in Q3 December 2005. Sales soared 46.9% to Rs 6.20 crore in Q3 December 2006 (Rs 4.22 crore).

Punj Lloyd’s net profit rose 22.06% to Rs 23.18 crore in Q4 March 2007 from Rs 18.99 crore in Q4 March 2006. Sales surged 91.06% to Rs 798.26 crore (Rs 417.81 crore).

Net profit jumped 75.22% to Rs 61.59 crore in the year ended March 2007 (FY 2007) from Rs 35.15 crore in FY 2006. Sales soared 63.63% to Rs 2238.85 crore in FY 2007 from Rs 1368.22 crore in FY 2006. Its consolidated Net Profit is much higher. Check out Punj Lloyd website 🙂

On 14 May 2007, Punj Lloyd had announced that it received a contract worth Rs 122.65 crore from GAIL India for the Panvel-Dabhol pipeline project.

Earlier, on 16 April 2007, the company had secured a contract worth Rs 530 crore to construct a pipeline for Oman Gas Company (OGC) on engineering, procurement & construction (EPC) basis. The project is likely to be completed by October 2008.

Punj Lloyd is one of India’s largest engineering construction companies active in the energy and infrastructure sectors.

Ramco Systems posted net loss of Rs 18.02 crore in Q4 March 2007 as against net loss of Rs 3.82 in Q4 March 2006. Sales declined 42.61% to Rs 19.38 crore in Q4 March 2007 (Rs 33.77 crore).

The company posted a loss of Rs 32.20 crore in the year ended March 2007 (FY 2007) as against loss of Rs 34.07 in FY 2006. Sales dipped 33.1% to Rs 78.57 crore in FY 2007 ( Rs 117.47 crore).

On 12 April 2007, Ramco Systems’ board approved to divest its 100% stake in Ramco Infotech Solutions (RITS) to TVS Interconnect Systems (TVSICS), a wholly owned subsidiary of T V Sundaram Iyengar and Sons. The closure of the transaction is subject to satisfactory due diligence, execution of definitive documents and other approvals and regulatory clearances.

The listing McDowell Holdings (MHL) on the bourses follows a restructuring scheme undertaken at United Spirits (USL) whereby investment business of USL was transferred to MHL as a going concern. Stock exchanges had set Rs 163 as base price for calculating 20% daily circuit filter in the shares of McDowell Holdings (MHL) on day one of its listing today, 30 May 2007.

MHL had allotted equity shares to the shareholders of USL, in the ratio of 1 equity share for every five shares held in USL. The issued, subscribed and paid-up capital of the MHL stands at Rs 12.14 crore consisting of 1.21 crore shares of face value of Rs 10 each.

USL had fixed 26 October 2006, as the record date for giving effect to this restructuring scheme and accordingly dealing in the equity shares of USL was done on ex entitlement basis with effect from 17 October 2006

The shares of Larsen & Toubro hit an all time high at Rs 1874. Just a while ago the company announced its Q4 results which beat market expecations.

The net profit of Larsen & Toubro rose 50.11% to Rs 700.77 crore in the Q4 March 2007 as against Rs 466.85 crore Q4 March 2006. Sales rose 35.01% to Rs 6248.24 crore in the Q4 March 2007 as against Rs 4627.87 crore in previous Q4 March 2006.

Larsen & Toubro (L&T) is one of the largest engineering conglomerates. It manufactures a wide range of engineering products like earthmoving, industrial and chemical machinery, switchgears, valves and welding alloys .

InfiaInfoline has posted good results.India Infoline’s net profit soared 56.68% to Rs 16.06 crore in the quarter ended March 2007, from Rs 10.25 crore in the quarter ended March 2006. Sales soared 1296.42% to Rs 238.09 crore in the year ending March 2007 (Rs 17.05 crore).

Net profit advanced 96.90% to Rs 52.12 crore in the year ended March 2007, from Rs 26.47 crore in FY 2006. Sales galloped 503.53% to Rs 269.78 crore (Rs 44.70 crore).

The India Infoline Stock is up 40% today on BSE.

Just over the weekend, India Infoline has puched 4 key personnel from CLSA Securities at a whopping Rs 16 crore sign-on bonus, thing never heard off in the Indian stock broking industry. Lets see how logn this mania continues 🙂