Ashok Leyland's net profit surged 142.2% to Rs 363.39 crore on 17.31% fall in total income to Rs 3092.51 crore in Q4 March 2014 over Q4 March 2013. Net profit slumped 93.22% to Rs 29.38 crore on 20.19% decline in total income to Rs 10009.94 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013). The result was announced after market hours on Thursday, 22 May 2014.
ITC, State Bank of India, Bosch, Colgate-Palmolive (India), Dhanalakshmi Bank, Engineers India, HDIL, Mcleod Russel (India), MOIL, Neyveli Lignite Corporation, Shree Renuka Sugars, SREI Infrastructure Finance, Stride Arcolab and Sun TV Network, among others, will announce their January-March 2014 earnings today, 23 May 2014.
Cummins India's net profit declined 24.79% to Rs 141.79 crore on 18.88% fall in total income to Rs 1003.07 crore in Q4 March 2014 over Q4 March 2013. Net profit fell 21.47% to Rs 600.02 crore on 13.38% decline in total income to Rs 4154.38 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).
Cummins India said that the board of directors of the company at its meeting held on 22 May 2014, inter alia, have recommended final dividend of Rs 8 per for the year ended 31 March 2014, in addition to the interim dividend of Rs 5 per share declared on 4 February 2014. The dividend warrants for the said final dividend (subject to approval of shareholders at the ensuing Annual General Meeting, scheduled on 1 August 2014) will be dispatched by 26 August 2014 and the final dividend will be paid on 28 August 2014. Cummins India said that the Register of Members & Share Transfer Books of the company will remain closed from 26 July 2014 to 1 August 2014 (both days inclusive) for the purpose of payment of final dividend & Annual General Meeting (AGM) of the company to be held on 1 August 2014.
Net profit of Sobha Developers declined 17.01% to Rs 48.30 crore in the quarter ended March 2014 as against Rs 58.20 crore during the previous quarter ended March 2013. Sales rose 2.14% to Rs 564.00 crore in the quarter ended March 2014 as against Rs 552.20 crore during the previous quarter ended March 2013.
Net profit of JK Lakshmi Cement rose 58.70% to Rs 52.91 crore in the quarter ended March 2014 as against Rs 33.34 crore during the previous quarter ended March 2013. Sales rose 20.99% to Rs 648.23 crore in the quarter ended March 2014 as against Rs 535.77 crore during the previous quarter ended March 2013.
HPCL will be be watched. With reference to the news item appearing in a financial daily titled "HPCL to buy stake in Petronet terminal", HPCL has clarified after market hours on Thursday, 22 May 2014, that it is a company dealing with various products related to petroleum and allied products and is scouting for various business opportunity in this sector in the normal course of business from time to time. In view of this as and when any development takes place on any of the matter, which would need disclosure to the stock exchange in terms of the listing agreement, the company shall comply with the same, it added in a statement.
Colgate Palmolive (India) said that the commercial production of toothpaste has commenced on 21 May 2014 at company's new manufacturing facility set up at Sanand, Gujarat. Further, the company has informed that in the month of March 2014 the new manufacturing facility was commissioned and fully tested. In the initial phase, the company intend to manufacture 15,000 MTs toothpaste from this manufacturing facility.
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SeQuent Scientific announced that it has entered into an definitive agreement to acquire the manufacturing assets and business of Arvee Synthesis, Mysore (Arvee). Arvee would serve as a site for key intermediates for the Company's Human API business. The site has all necessary approvals and infrastructure with space for future expansion of SeQuent's rapidly expanding business.
In another development, Sequent also acquired a land admeasuring 14 acres 24 Guntas, adjacent to its existing FDA approved facility in Mangalore. The facility at Mysore and land at Mangalore would be used for meeting the growing demand of Sequent's key products in the USFDA and WHO regulated markets.
Speaking on the development, Manish Gupta, CEO of Sequent said, "Sequent's strategy of focusing on small, niche molecules is paying dividends. The human API business of Sequent is poised to grow at a CAGR of 50%+ in the medium term, on the back of regulatory approvals of its key products in the regulated markets."
SKS Microfinance said that its board has approved issuing 1.77 crore equity shares to Qualified Institutional Buyers at a price of Rs 225 per equity share, including a premium of Rs 215 per equity share, aggregating to approximately Rs 400 crore.
JSW Steel said that its board will meet on 27 May 2014 to consider issuing Non-Convertible Debentures along with warrants/convertible Securities other than warrants, convertible into Equity Shares, to eligible Qualified Institutional Buyers (QIB) in one or more tranches through a Qualified Institutional Placement (QIP)/issue of ADRs/GDRs/FCCBS/any other convertible instruments in the International Capital Market.
Shipping Corporation of India said it has received refund on account of rescindment of shipbuilding contract for Hull No. D-2132, of which Rs 105.107 crore was paid from Follow On Public Offer (FPO) proceeds.
IL&FS Transportation Networks said that a Committee of Board has allotted 5.24 crore equity shares of Rs. 10 per share for cash at a price of Rs 100 per equity share (including a premium of Rs 90 per equity share) to the successful applicants in the rights issue of the company, in accordance with the basis of allotment as finalised by the Company, the Lead Managers and the Registrars to the Issue, in consultation with National Stock Exchange of India, the Designated Stock Exchange on 22 May 2014. Consequently, the issued, subscribed and paid up share capital of the company now stands increased from Rs 194.26 crore to Rs 246.72 crore.
B.A.G. Films and Media said that its board will meet on 26 May 2014 to consider issue of equity shares on preferential basis to promoter group, associates and non promoters and to decide the relevant date for the purpose of preferential issue.
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