Ambuja Cements announces Q2 results today, 27 July 2015. Tech Mahindra also announces Q1 results today, 27 July 2015.
Reliance Industries' (RIL) consolidated net profit rose 4.44% to Rs 6222 crore on 25.93% decline in total income to Rs 78962 crore in Q1 June 2015 over Q1 June 2014. The result was announced after market hours on Friday, 24 July 2015. Decline in revenue was led by the 43.5% decline in benchmark (Brent) oil price in Q1 June 2015 over Q1 June 2014.
Profit before depreciation, interest and tax (PBDIT) increased by 9.8% to Rs 12095 crore in Q1 June 2015 over Q1 June 2014. Profit Before Tax increased by 5.5% to Rs 8152 in Q1 June 2015 over Q1 June 2014. Cash Profit increased by 4.3% to Rs 9367 crore in Q1 June 2015 over Q1 June 2014.
Outstanding debt as on 30th June 2015 was Rs 170814 crore compared to Rs 160860 crore as on 31st March 2015. Cash and cash equivalents as on 30th June 2015 were at Rs 87,391 crore.
The company's gross refining margin (GRM) for crude refining rose to $10.40 per barrel in Q1 June 2015 from $10.1 per barrel in Q4 March 2015 and $8.70 per barrel in Q1 June 2014.
Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries said: The financial performance reflects the benefits of integrated hydrocarbon chain activities in a benign oil price environment. The sharp increase in demand for transportation fuels helped to realize strong refining margins. The petrochemicals business recorded a strong quarterly performance supported by high operating rates and margin strength in the ethylene chain. In retail business, the company has reached significant milestones over the past couple of years and continue the high growth trajectory for this business.
As the company look forward, it is committed to accelerating the growth of operating EBITDA. The company is leveraging the strength of integrated value chains to deliver sustainable growth. Large investments in petrochemicals and refining businesses are based on advantaged feedstocks to enable to stay among low-cost, competitive producers in an evolving hydrocarbon chain environment. The company maintained rapid progress in project construction activity at Jamnagar. The company's world-scale petcoke gasification project and ethylene cracker are on track for planned start-up in 2016. The company is also in the final lap of launch of Jio services which will bring about a positive transformation in the lives of millions of Indians.
Lupin announced that it has entered into a strategic asset purchase agreement with TEMMLER PHARMA GMBH & CO. KG (Temmler), a part of the Aenova Group, one of the world's largest pharmaceutical contract manufacturers, to acquire Temmler's specialty product portfolio subject to certain closing conditions. The company made announcement after market hours on Friday, 24 July 2015.
Based in Marburg (Germany), Temmler has a fast growing specialty portfolio of 13 products including key Central Nervous System (CNS) products and specialty products that address rare disease areas like Myasthenia Gravis, Huntington disease as well as fast-growing dermatology products for anti-wart treatment. Since Huntington disease has many symptoms ranging from motoric symptoms to personality changes, both Temmler and Hormosan products can be used to treat the disease.
With respect to news article titled "Lupin's Goa Unit Comes Under USFDA Scanner", Lupin clarified after market hours on Friday, 24 July 2015, that the observations have already been complied with and accordingly responded to the United States Food & Drug Administration (USFDA)
Tata Consultancy Services (TCS) announced after market hours on Friday, 24 July 2015, a new global partnership with FICO, a leading analytics software company, to enable clients to purchase and implement FICO solutions through TCS. This alliance will accelerate the development of innovative decision centric applications, enable faster turnaround for implementation and increase user productivity for agile digital transformation programs.
TCS and FICO will develop a Center of Solutions Excellence (COSE) across TCS' global delivery centers to allow installation of FICO solutions provided to TCS. The COSE will provide an environment for training, application development, integration practices, delivery resources, testing, support, and maintenance.
This Global Strategic partnership will provide new opportunities including a vast set of capabilities in decision management centric technologies to offer process led digital transformation, rapid application development and customer experience excellence for the enterprise. Creating innovative customer and decision centric applications will enable agility in business management and digital transformation.
Bank of India turns ex-dividend today, 27 July 2015, for final dividend of Rs 2.50 per share for the year ended 31 March 2015 (FY 2015).
KSB Pumps said that the company has plans to expand its operations in next few years by setting up new plant preferably near its existing location and is in the process of finalizing specific location and land for this purpose. The company made announcement after market hours on Friday, 24 July 2015. The company plans to undertake construction of the plant in a phased manner over next 5 years to achieve the required capacity. The commencement of commercial production is planned in a phased manner from year 2017 onwards. The capital expenditure to be incurred over the phased expansion is estimated to be around Rs 250 crore partly from internal generation and balance from borrowings.
The proposed new facility will be utilized for manufacturing of high end engineered pumps for Super Critical Thermal Power Plants. These products will be manufactured by the company as a part of "Make in India" initiative under a technology transfer and license agreement with KSB AG, Germany.
Power Finance Corporation will be in focus. The Government of India acting through and represented by the Ministry of Power, Government of India, the promoter of Power Finance Corporation has made an offer for sale up to 6.60 crore shares, representing 5% of the total paid up equity share capital of Power Finance Corporation (through a sale on the separate window provided by stock exchanges for this purpose. The announcement was made after market hours on Friday, 24 July 2015.
The offer shall take place during trading hours on a separate window of the stock exchanges and today, 27 July 2015 at 9:15 IST and shall close on the same day at 15:30 IST. The floor price of the offer is fixed at Rs 254 per share.
Uniply Industries announced before market hours that the Board of Directors of the company at its meeting held on 25 July 2015, inter alia, has approved the issue and allotment of up to 26.68 lakh shares on a preferential basis to the promoter and non-promoters for a total subscription amount of up to Rs 26.68 crore, at a price of Rs 100 per share.
Nitin Spinners said on Saturday, 25 July 2015, that the Board of Directors of the company at its meeting held on 25 July 2015, inter alia, has approved the expansion project at an estimated project cost of Rs 300 crore. The company said it has archived full production capacity on expanded facilities installed in the year 2014-15. In order to further expand its product range and to establish leadership position in the market, the Board of Directors of the company have approved expansion project at an estimated cost of Rs. 300 crore for additions in the capacity of Ring Spinning & Rotor Spinning facilities at the existing location. The project is proposed to be financed partly through term loan and partly through internal accruals. The expansion project is eligible for interest subsidy on term loan for capital expenditure under TUFS of Central Government and Rajasthan Investment Promotion Scheme, 2014.
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