ACC's consolidated net profit tumbled 40.84% to Rs 236.54 crore on 0.65% decline in total income to Rs 3140.31 crore in Q1 March 2015 over Q1 March 2014. The result was announced on Tuesday, 14 April 2015.
Cement sales volume fell 10.18% to 5.82 million tonnes in Q1 March 2015 over Q1 March 2014. With slackened demand from infrastructure and general construction sector in Q1 March 2015, the overall cement sales volume registered a decline over Q1 March 2014.
Net sales realization of cement business improved in Q1 March 2015 compared with Q1 March 2014. While the company maintained a stringent check on input costs, the overall operating costs for cement business registered an increase of 3.6% in Q1 March 2015 as compared to Q1 March 2014.
Operating EBITDA rose 43.38% to Rs 609.48 crore in Q1 March 2015 over Q1 March 2014. Operating EBITDA reflects continued margins improvements and also includes accrual of an amount of Rs 139.74 crore pursuant to favourable order dated 24 February 2015, of the Jharkhand High Court pertaining to disputes related to incentives for the period August 2005 to March 2015, which were earlier committed by the State of Jharkhand but was denied thereafter.
The profit before tax (PBT) fell 19.06% to Rs 310.12 crore in Q1 March 2015 over Q1 March 2014. PBT includes an additional charge of Rs 164.45 crore being the carrying amount as of 1 January 2015 of fixed assets with no remaining useful life (as revised) as of that date in accordance with the provisions of Schedule II of the Companies Act 2013 becoming applicable to the company with effect from 1 January 2015.
Cement demand is likely to improve in the next two quarters, while focus on performance will continue, ACC said.
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Bosch on Tuesday, 14 April 2015 said that a conciliation meeting was held on 13 April 2015 between the Management and labour union supported by the labour secretary, wherein it was agreed that the union will not indulge in a 'Go-slow' action and call off their hunger strike immediately and the company will lift the lockout with effect from first shift of 15 April 2015. The labour secretary has directed both parties to continue discussions for the long term wage settlement, Bosch said.
ICICI Bank reportedly cut its home loan rate for both existing as well as new borrowers by 25 basis points (bps) to 9.9% on Tuesday, 14 April 2015.
Axis Bank reportedly cut its home loan rate by 20 bps to 9.95% on Tuesday, 14 April 2015.
Kotak Mahindra Bank announced after market hours on Monday, 13 April 2015, that it has reduced its base rate to 9.85% per annum from current level of 10% per annum with effect from 16 April 2015. All categories of loan (other than the exceptions permitted by the Reserve Bank of India) will be priced with reference to the revised base rate.
DCB Bank's net profit rose 61.06% to Rs 62.94 crore on 24.54% rise in total income to Rs 425.11 crore in Q4 March 2015 over Q4 March 2014. The result was announced on Tuesday, 14 April 2015.
DCB Bank's ratio of net non-performing assets (NPAs) to net advances stood at 1.01% as on 31 March 2014, compared with 1% as on 31 December 2014 and 0.91% as on 31 March 2014. The ratio of gross non-performing assets (NPAs) to gross advances stood at 1.76% as on 31 March 2014, compared with 1.87% as on 31 December 2014 and 1.69% as on 31 March 2014.
Provisions and contingencies rose 29.62% to Rs 14.31 crore in Q4 March 2015 over Q4 March 2014. The provisioning coverage ratio as on 31 March 2015 stood at 74.66%.
The bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 14.95% as on 31 March 2015, compared with 14.44% as on 31 December 2014 and 13.71% as on 31 March 2014.
Ashoka Buildcon said that a special committee of the board decided to open the qualified institutional placement (QIP) issue on Monday, 13 April 2015. The floor price of the issue is Rs 185.05 per equity share. The company said it is aiming to raise maximum of Rs 850 crore through the issue. The company may offer a discount of maximum 5% from the Sebi Floor Price.
International Paper APPM announced on Tuesday, 14 April 2015, that there would be annual outage from 15 April 2015 to 23 April 2015 (both days inclusive) in the manufacturing facility located in Kadiyam, East Godavari District, Andhra Pradesh.
Gujarat Gas Company (GGCL) announced after market hours on Monday, 13 April 2015, that the company has accepted the authorisation in Schedule D of the Petroleum and Natural Gas Regulatory Board (PNGRB) after PNGRB, granted company an authorisation to lay, build, operate, or expand city or local natural gas distribution network (CGD network) for the geographical area of Thane (excluding areas already authorized). As per the provisions of the PNGRB (Exclusivity for City or Local Natural Gas Distribution Networks) Regulation, 2008, GGCL has been granted 300 months of infrastructure exclusivity i.e. valid up to 1 April 2040 and 60 months of marketing exclusivity valid up to 1 April 2020 for the CGD network. Further, the Authorised area for laying, building, operating or expanding the proposed CGD Network shall cover a geographical area of 8,683 square kilometers.
Sequent Scientific on 13 April 2015 allotted 11 lakh warrants at Rs 475 per warrant, convertible into 11 lakh equity shares of Rs 10 each to non-promoters namely -- Shivanand Shankar Mankekar HUF jointly with Kedar Shivanand Mankekar. The warrants are convertible into equity shares within a period of 18 months from the date of issue.
Alstom T&D India has secured a 8.5 million (Rs 56.90 crore) order from Bhabha Atomic Research Centre (BARC) to provide a 220/11 kV, 25/31.5 MVA substation for its Challakere unit in Chitradurga, Karnataka. This equipment will serve as the main receiving substation to cater to power supply requirement of the Chitradurga unit, ensuring the overall reliability of the Challakere unit. This facility will be the third largest in India after Mumbai and Vishakhapatnam facilities.
Under this contract, Alstom T&D India will build a 220/11 kilovolt (kV), 25/31.5 MVA master receiving substation on a turnkey basis. It will also provide six units of 220 kV bays, two units of 25/31.5 MVA, 220/11 kV power transformers and other associated equipment. All equipment will be supplied from Alstom T&D India's manufacturing facilities across the country.
Rathin Basu, Managing Director, Alstom T&D India said, "We are pleased to be associated with this prestigious atomic energy installation project of BARC. We will provide our world class products and solutions for the Challakere unit and thus, will be positioned to capture the growth in India's nuclear power programme in the future."
Modison Metals announced on Tuesday, 14 April 2015, that the credit rating of the company as rated by Credit Analysis & Research (CARE) has been improved from Care A- to Care A for long term bank facilities. The rating for short term bank facilities is improved from Care A2 + to Care A1. The upgradation in credit rating is attributed to improvement in operational efficiency during recessionary trend for the company's type of industry.
Omaxe after market hours on Monday, 13 April 2015 said that the company has purchased 7,000 equity shares of face value of Rs 10 each at a rate of Rs 10 each aggregating to Rs 70000 of VKG Landcon on Monday, 13 April 2015, thereby making it a subsidiary.
Lancor Holdings on Monday, 13 April 2015 said that the company has received the order from the High Court of Judicature at Madras approving the scheme of Amalgamation of Lancor GST Developments and Lancor Realty (wholly owned subsidiaries) with the company.
Shares of companies whose fortunes are linked to orders from Indian Railways will be in focus after Prime Minister Narendra Modi on Monday, 13 April 2015, said that India is modernizing its Railway systems including signals and railway stations. In his address at the inauguration of the Indo-German Business Summit in Hannover, Germany, Modi said that India is planning metro rail in fifty cities and high speed trains in various corridors.
Shares of aviation companies, hospitality firms and tour operators will be in focus after Prime Minister Narendra Modi on Monday, 13 April 2015, said India is focusing on upgrading existing airports and putting up regional airports to enhance connectivity to places of economic and tourist importance. In his address at the inauguration of the Indo-German Business Summit in Hannover, Germany, Modi said that the scope and potential, the breadth and length of infrastructure and related developments is very huge in India.
Lincoln Pharmaceuticals said after market hours on Monday, 13 April 2015, that a meeting of the board of directors of the company will be held on 16 April 2015, to finalize the issue of convertible warrants on preferential basis to the promoters/promoters group and non promoters also and further to decide about the date of extra ordinary general meeting for obtaining approval of members of the company for the preferential issue of convertible warrants.
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