DOCSLIB.ORG

Annual Report 2018 -19 Contents

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2018 -19 Contents UNLEASHING POTENTIAL TUBE INVESTMENTS OF INDIA LIMITED ANNUAL REPORT 2018 -19 CONTENTS Corporate Overview 01 Unleashing Potential 02 TII-An Overview 04 Our Business 06 Chairman’s Message 08 MD’s Message 10 Engineering Business 14 Metal Formed Products Business 18 Bicycles Business 22 New Business 23 Corporate Information 24 Board of Directors 25 Financial Highlights Management Reports 26 Board’s Report & Management Discussion and Analysis 42 Report on Corporate Governance 56 General Shareholder Information Financial Statements 90 Standalone Financial Statements 163 Consolidated Financial Statements Cautionary Statement Certain expectations and projections regarding the future performance of the Company referenced in the Annual Report constitute forward- looking statements. These expectations and projections are based on currently available competitive, financial and economic data, along with the Company’s operating plans and are subject to certain future events and uncertainties, which could cause actual results to differ materially from those indicated by such statements. UNLEASHING POTENTIAL A visioning exercise that set the course for a new roadmap. A determined drive to consolidate competencies, explore greater possibilities. The aspiration to engineer an edge with value-led innovation and dynamic change. At TII, 2018-19 was a year of great dimensional shift and transformational churning - of people and process effi ciencies, of business agility and fi scal discipline, of strategic direction and global expansion, of revenue growth and a determined commitment to build stakeholder value. The mandate was simple - to unleash potential, build value and become a globally admired Engineering Company. Annual Report 2018-19 1 W Our Legacy Tube Investments of India Limited (TII) is a fl agship Company of the renowned Murugappa Group, India’s leading business conglomerate. Established in 1900, with its Headquarters in Chennai, the Group has 28 businesses, with nine listed Companies traded in NSE & BSE. Major companies of the Group include Carborundum Universal Ltd, Cholamandalam Investment and Finance Company Limited, Cholamandalam MS General Insurance Company Limited, Coromandel International Limited, Coromandel Engineering Company Limited, E.I.D. Parry (India) Limited, Parry Agro Industries Limited, Shanthi Gears Limited, Tube Investments of India Limited and Wendt (India) Limited. With a total turnover of `369 Billion, and a people strength of more than 50,000, the Group’s geographical footprint is spread across India and the globe. About Us Tube Investments of India Limited (TII) is one of India’s leading manufacturers of a wide range of products for major industries such as Automotive, Railway, Construction, Mining, Agriculture, etc. The Company’s 3 main verticals are Engineering, Metal Formed Products and Bicycles. As part of its growth strategies, the Company is exploring opportunities in TMT bars, Truck Body Building and in the business of automotive vision / other vision systems. Our Vision Build a globally admired Indian Engineering Company, creating stakeholder delight. To be the preferred Global Supplier (across markets) - ‘Global Clientele’. To attain Global Quality Leadership in whatever products and services we provide. To align with emerging global trends in the Engineering space. 2 Annual Report 2018-19 UNLEASHING POTENTIAL Performance FY 2018-19 REVENUE PBT FY 2018-19 was a year of strengthening the core for unleashing 16% 70% potential. It was a year of strategic restructuring of business segments for improving the performance of operations. Around 5,286 371 70 teams across the Company worked in tandem on seven areas (` in Crore) (` in Crore) of performance improvement: revenue enhancement, sourcing, additional realisation from scrap, logistics cost optimisation, fi nance cost reduction, quality and productivity improvement and fi xed cost reduction. ROCE FCF TO PAT % It was a year of unleashing potential with aggressive fi nancial targets underpinned by 4 cardinal metrics for growth and value creation - Revenue Growth, Profi tability, Return on Capital 21%. 85% Employed and Free Cash Flow (FCF). FCF - 208 (` in Crore) 5,286 371 4,571 4,109 218 202 2016-17 2017-18 2018-19 2016-17 2017-18 2018-19 NET REVENUE (` in Crore) PBT (` in Crore) 85% 21% 69% 70% 208 14 % 14 % 109 95 2016-17 2017-18 2018-19 2016-17 2017-18 2018-19 ROCE FCF (` in Crore) FCF / PAT% Annual Report 2018-19 3 Our Business ENGINEERING ENGINEERING METAL FORMED PRODUCTS Manufacture and supply of high quality, safety-critical Cold Drawn BICYCLES Welded (CDW) Tubes, Electric Resistance Welded (ERW) Tubes and tubular components for automobile applications, large diameter tubes for hydraulic cylinders and off -road applications and special grade Cold Rolled Steel Strips (CRSS). 4 Annual Report 2018-19 METAL FORMED PRODUCTS BICYCLES Manufacture and supply of Manufacture and marketing Sheet Metal Formed Products, of wide range of Bicycles and Industrial Chains, Fine Blanked accessories from Standard to Components, Motor Casings Premium bicycles, including and Agri-Blades for the Performance bicycles for the Automotive, Industrial, Railway, fi tness and adventure space. and Agriculture segments. Annual Report 2018-19 5 Chairman’s Message Dear Shareholders, The Indian economy started the fi scal year 2018–19 with a Manufacturers and suppliers would have to build their business healthy 8.2% growth in the fi rst quarter on the back of domestic model around customer-centred innovations and scalable resilience. However, full year growth eased to 6.8% due to rising mobility solutions to stay relevant. global volatility, crude oil prices and stress in the NBFC sector. Yet, the Indian economy remains one of the fastest growing and With the Government of India spearheading FAME II [Faster with strong macro-economic fundamentals, stable currency, Adoption and Manufacturing of (Hybrid &) Electric Vehicles], the range-bound oil prices, key Government measures on debt automotive sector is poised for great change and greater growth. restructuring, bank recapitalisation, infrastructure development According to analysts, the Indian auto-components industry is and ‘Make in India’ driving foreign direct investment, growth is projected to become the third largest in the world by 2025, with estimated to remain upward of 7% for the coming year. a quantum leap in exports. Domestic volume growth of Passenger Vehicles touched 3.4 In addition to the off -take from original equipment million units registering a marginal growth of 2.7%, while manufacturers (OEMs) for meeting the burgeoning domestic Commercial Vehicles with 1.0 million units outpaced the demand for various auto segments, auto exports from India segment with a 17.6% growth. Sales of two wheelers registered are estimated to show strong growth with many auto majors a growth of 4.9% with 21.2 million units, as against Medium and focusing on exports and expansions in newer markets such as Heavy Commercial Vehicles which grew by 14.7%. Contrary to South America, North America and Asia. The Government of expectations, the auto segment registered a slowdown in the India’s decision to skip BS-V and adopt BS-VI norms by April 2020, last quarter, especially in the the Passenger Car and Two wheeler to curb emission, has resulted in setting up of new facilities by segment. auto companies to manufacture BS-VI compliant vehicles. It is expected that between 2020 and 2025, the auto industry At TII, we are unleashing potential for profi table growth with would be facing challenges of falling margins and rising strategic capacity expansions across plants, benchmarking investment cost. The industry is on the cusp of a major process capabilities, cost reductions, value-led product transformation with emerging trends in electrifi ed, autonomous, innovation and customer co-partnering. shared and connected mobility gaining importance. 6 Annual Report 2018-19 At TII, we are unleashing potential for growth, with strategic capacity expansions, benchmarking process capabilities, cost reduction, value-led product innovation and customer co-partnering. The capacity expansions at our Rajpura plant of Engineering Mr. Hemant Nerurkar and Mr. L Ramkumar (Managing Director) Business, fi ne blanking facility at Ambattur and the expansion retired at the conclusion of the previous Annual General Meeting of our Plants at Uttarakhand and Kakkalur of Metal Formed in August, 2018. The Board in general and myself in particular Products Business providing proximity and cost eff ective are ever thankful to them for their outstanding contribution logistics support to the Railway industry will be key growth to the growth of TII during their term. Two new members were drivers for both the Engineering and the Metal Formed Products inducted to the Board during the year. Mr. Sanjay Johri who joined businesses. the Board in August, 2018 brings with him over four decades of rich experience with the Tata group. Mr. Mahesh Chhabria who This year the Company has undertaken a major restructuring was appointed to the Board in February, 2019, has over three exercise to build greater business agility. Various measures to decades of experience in the fi nancial services industry. I take optimise internal effi ciencies were taken such as cost discipline, the opportunity to welcome both Mr. Sanjay Johri and vendor managed inventories, rationalisation of sourcing Mr. Mahesh Chhabria. The Board is further enriched with the methods, etc. which have all contributed to business
Load more

Recommended publications
  • Cholamandalam MS Risk Services Limited All Rights Reserved
    Cholamandalam MS Risk Services Limited Managing Risk with Technical Excellence …. Corporate Office: Cholamandalam MS Risk Services Ltd. 4th Floor, Parry house, NSC Bose Road, Parrys, Chennai - 600 001 Phone: +91 44 3044 5620 -30 || Fax: +91 44 3044 5550 www.cholarisk.com ©Cholamandalam MS Risk Services Limited all rights reserved. This is the property of Cholamandal am MS Risk Services Ltd. and is released on the condition that this work may not be reproduced or used (entirely or partially) for any purpose without the written consent of Cholamandalam MS Risk Services Ltd Version 4 .0 bout Cholamandalam MS Risk Services Limited About Murugappa Group India A Headquartered in Chennai, the USD 3.14 billion Established in year 1994, Cholamandalam MS Risk Services Murugappa Group is one of India's leading business conglomerates. Market (hereafter referred as “ Chola MS Risk ”) offers comprehensive leaders in diverse areas of business including Engineering, Abrasives, Risk management & Engineering solutions in field of Finance, General Insurance, Cycles, Sugar, Farm Inputs, Fertilizers, Environment, Health & Safety (EHS) . The company has Plantations, Bio-products and Nutraceuticals, its 29 companies have pioneered many specialized services catering to the needs of manufacturing facilities spread across 13 states in India. The Group has Asian & European markets for last 16 years. Chola MS Risk has forged strong joint venture alliances with leading international companies successfully executed more than 2500 consulting projects like Mitsui Sumitomo, Foskor, Cargill and Groupe Chimique Tunisien has (Domestic/International) which helped organizations optimize consolidated its status as one of the fastest growing diversified business their EHS performance and set new benchmarks.
    [Show full text]
  • Madras Management Association: Managing Diversity, Growth and Excellence
    Indian Institute of Management Indore Madras Management Association: Managing Diversity, Growth and Excellence If MMA enjoys an all-India reputation, it is because it has stuck to its core mission of furthering the cause of managerial excellence. It has never deviated from this. If it had done so, it would have run the risk of becoming just another corporate lobby, and it would not have been what it is today. - A former President of Madras Management Association. Introduction The year 2010-11: the executive committee of Madras Management Association (MMA) was delightfully perplexed. The association had just won the Best Local Management Association (LMA) award among all the LMAs in the country from the All India Man- agement Association (AIMA) for the period 2009-10. However, the honor had come to MMA after a gap of three years - in 2005-06 it had won the same award for the fifth consecutive year. While the committee members were looking for answers to questions arising out of the missed honor over the last three years, capitalizing on the past success without repeating the mistakes was also equally important for the association's future. In this regard, MMA leadership was reflecting on the association's past spanning over half aDo century. not Their copy primary or concern Reproduce was to evaluate - theIIM Association's Indore activities case from the perspective of its core objectives. In particular, the main question they needed to answer was, over the years, did MMA diversify and grow or did it drift away from its vision and mission? Omkar D.
    [Show full text]
  • Coromandel International Limited Annual Report 2020-21 Corporate Overview Management Reports Financial Statements
    Rising with Resilience Coromandel International Limited Annual Report 2020-21 Corporate Overview Management Reports Financial Statements WHAT INSIDE RISING WITH Corporate Overview RESILIENCE Rising With Resilience | 01 We are Coromandel | 02 Performance through the years | 08 As the world encountered the unprecedented health challenges Transforming to next gen agriculture company | 10 and economic slowdown due to the COVID 19 pandemic, We, at Coromandel, displayed exceptional resilience to swiftly A Spirited Performance | 12 transform ourselves and continue our growth trajectory. It is Managing Director’s Interactive Q&A | 15 this resilient nature of ours backed by our rich legacy and strong Board of Directors | 18 commitment that has enabled us to rise in these challenging times. Faster Adoption: Smart Crop Solutions | 22 Riding the Digital Wave: Reaching Customers | 24 We were quick to embrace technology to overcome the Nurturing Communities, Changing Lives | 30 resource limitations and drive the agenda of Smart Farming. Digital became our biggest enabler as we empowered our Awards and Recognitions | 33 people, processes and stakeholders, leading to improved overall Corporate Information | 34 performance. We continued to prioritize the safety and well-being of our Management Reports employees and operated with desired caution and compliance Management Discussion and Analysis | 35 during the pandemic year. This ensured safe work environment and continuance of our operations for most part of the year, Notice of the Annual General Meeting | 53 enabled availability of agri inputs and services to the farming Board’s Report | 66 community. Corporate Governance Report | 94 We rose to support our nearby communities and Government Business Responsibility Report | 115 agencies by assisting in the areas of COVID awareness & relief, health, education and community development.
    [Show full text]
  • Investor Presentation
    Investor Presentation August 2016 Stock Codes: BSE: 504973 NSE: TUBEINVEST Bloomberg: TI IN / TI IB Reuters: TUBE.NS / TUBE.BO CIN: L35921TN1949PLC002905 Tube Investment of India Limited 1 Contents 1.About Murugappa Group 2.Tube Investments of India Limited 3.Business Divisional Performance 4.Company Financials -------------------------------------------------------------------------------Disclaimer------------------------------------------------------------------------------ This presentation contains forward-looking statements which may be identified- by their use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “estimates” or other words of similar meaning. All statements that address expectations or projections about the future, including, but not limited to, statements about the strategy for growth, product development, market position, expenditures, and financial results, are forward-looking statements. Forward-looking statements are based on certain assumptions and expectations of future events. The companies referred to in this presentation cannot guarantee that these assumptions and expectations are accurate or will be realized. The actual results, performance or achievements, could thus differ materially from those projected in any such forward-looking statements. These companies assume no responsibility to publicly amend, modify or revise any forward looking statements, on the basis of any subsequent developments, information or events, or otherwise. 2 Murugappa Group INR 295 Billion Conglomerate One of the largest family promoted, professionally managed, diversified business groups… 3 The Philosophy we cherish The fundamental principle of economic activity is that no man you transact with will lose; then you shall not. - Arthashastra 4 Genesis and early years of growth 1900 – 1915 A. M. Murugappa lays the foundation of the Group by establishing a money-lending and banking business, with Ramanathan Chettiar in Burma, under the name A.
    [Show full text]
  • Investor Presentation Disclaimer
    INVESTOR PRESENTATION DISCLAIMER The communication may contain statements relating to future business developments, company’s performance and economic performance that may constitute ‘forward looking statements’. While these forward looking statements represent the company’s judgments and future expectations, a number of factors could cause actual developments and results to differ materially from expectations. The company undertakes no obligation to publicly revise any forward-looking statements to reflect future events or circumstances. CUMI @ 2015 2 Murugappa Group An Overview CUMI @ 2015 3 MURUGAPPA GROUP INR 269 Billion Conglomerate One of the largest family promoted, professionally managed, diversified business groups CUMI @ 2015 4 The Philosophy we cherish The fundamental principle of economic activity is that No man you transact with will lose; then you shall not. CUMI @ 2015 5 Murugappa Group Today ~ INR 269 Billion Conglomerate One of the largest family promoted, professionally managed, diversified business Groups… CUMI @ 2015 6 The Spirit of the Murugappa Group CUMI @ 2015 7 Social Responsibility AMM Foundation is a non-profit organization run by the Murugappa Group 1% of PAT from Group companies to AMM Foundation 4 Schools, a polytechnic; approximately 10,500 students 4 Hospitals - around 8.15 lakh patients treated last year Scholarships for needy meritorious students Scholarships for scholars for pursuing their professional degrees CUMI @ 2015 8 Carborundum Universal CUMI @ 2015 9 Birth Of CUMI • Incorporated as a joint venture 1954 between Carborundum Company USA, Universal Grinding Wheel Company, UK and the Murugappa, CARBORUNDUM UNIVERSAL India USA UK • Acquired a coated abrasives facility from Ajax products Pvt Ltd • Bonded abrasives facility set up in Chennai India CUMI @ 2015 10 Business Portfolio PBIT Share Sales Share CUMI – FY 15 Revenue :Rs.
    [Show full text]
  • Company Portrait
    Tube Investments BUY BUY CMP Rs606 Leveraging manufacturing expertise Target 12m Rs680 (12%) Market cap (US$ m) 1,544 We initiate coverage on Tube Investments of India (TI) with a BUY and TP of Rs680. TI is leveraging its manufacturing and Enterprise value (US$ m) 1,580 R&D expertise to maintain leadership as tier-2 auto Bloomberg TIINDIA IN component supplier as well as to grow the non-auto, exports Sector Metals and railways businesses. The ingrained focus on growth, profitability, RoCE and cash generation is visible in the 1 October 2020 company’s financials with ROE improving to 19% in FY20. Recent announcement for acquisition of 58.6% stake in CG 52Wk High/Low (Rs) 682/254 Power will drive further diversification away from autos, as Shares o/s (m) 188 capital support and mfg. expertise drive a turnaround. Daily volume (US$ m) 1 Dividend yield FY21ii (%) 0.7 Strong play on recovery in the domestic auto market: TI is a Free float (%) 52.1 leading tier-2 vendor for domestic auto OEMs. 55% of its revenue/Ebit share is backed by strong quality & service levels, deep Shareholding pattern (%) integration in manufacturing with OEMs, well-spread manufacturing Promoter 47.9 facilities and importantly resilient customer relationships. As auto Pledged (as % of promoter share) 0.0 volumes for 2Ws, PVs and tractors recover, TI is well placed to FII 18.2 benefit as the supplier to majority of the auto makers in India. DII 20.6 Non-auto segments also seeing healthy traction: TI’s intent to Price performance (%) lower exposure to auto cyclicality is playing out, as rise in exports’ 1M 3M 1Y share (15% in FY20) gains pace, with focus on product development Tube (6.4) 36.4 57.8 for global auto & industrial customers.
    [Show full text]
  • Company X Profile
    MAPE Advisory Group – Corporate Profile MAPE Advisory Group – A Leading Investment Bank in India MAPE Advisory Group Key Recognitions MAPE was founded in 2001 by ex DSP Merrill Lynch senior bankers as a investment Annual India M&A Atlas Awards 2012 bank focused on M&A advisory and Private Equity fund raising Has diversified into Cross Border Advisory over the years INDIA INDIA Excellent deal track record: WINNER WINNER Cross Border M&A M&A Boutique Deal of the Year Investment Bank of Has successfully closed over 180 transactions, across sectors, totaling to a deal (Small & Mid t he Y e a r size of over US$ 6 bn (approx.) M a r k e t s ) 2012 2012 Has consistently ranked amongst the top 10 investment banks in the country (per Bloomberg league tables) Awarded the Boutique Investment Bank Of The Year Award at the India M&A INDIA Atlas Awards 2012 WINNER Presence across 3 cities – Mumbai, Bangalore, and Chennai Cross Border M&A Deal Team of the Y e a r Significant cross border deal experience and network 2012 STRICTLY PRIVATE AND CONFIDENTIAL AND PRIVATE STRICTLY Known in the market for the ability to conclude “difficult” deals and realize attractive valuations for clients Annual India M&A Atlas Awards 2011 Service Offerings INDIA INDIA Mergers & Cross Border Private Equity WINNER WINNER ECM M&A Boutique Corporate M&A Acquisitions Advisory Syndication Investment Bank of Deal of the Year t he Y e a r (Mid Market) 2011 2011 2 Led by Experienced Senior Bankers Prior to founding MAPE, Ram was the Senior VP heading Southern India operations
    [Show full text]
  • Press Release – EID-Parry (India) Ltd. Financial Results
    Press Release – E.I.D.-Parry (India) Ltd. Financial Results Chennai, November 06, 2019: EID Parry (India) Limited, one of the largest manufacturers of Sugar in India, has reported financial results for the quarter and half year ended 30th September 2019 Standalone performance for the quarter and half year ended 30th September 2019: The Standalone revenue from continuing operations for the quarter ended 30th September 2019 was Rs. 442 Crore registering a growth of 26% in comparison to the corresponding quarter of previous year of Rs. 351 Crore. Profit before depreciation, interest and taxes (EBITDA) and before exceptional items from continuing operations for the quarter ended was Rs. 51 Crore in comparison to the corresponding quarter of previous year of Rs. 39 Crore. During the quarter, the Company received a final dividend of Rs.62 Crore for the financial year 2018-19 in line with the corresponding quarter of the previous year from its subsidiary, Coromandel International Limited. Standalone profit after tax from continuing operations for the quarter was Rs. 6 Crore as against Rs.11 Crore in the corresponding quarter of previous year. The Standalone revenue from continuing operations for the half year ended 30th September 2019 was Rs. 830 Crore registering a growth of 3% in comparison to the corresponding half of previous year of Rs. 807 Crore. Profit before depreciation, interest and taxes (EBITDA) and before exceptional items for the half year ended was Rs.21 Crore in comparison to Loss of Rs. 64 Crore in the corresponding half of previous year. Standalone Loss after tax from continuing operations for the half year ended was Rs.
    [Show full text]
  • Murugappa.Com Website : CIN No.: L29224TN1954PLC000318
    Carborundum Universal Limited Regd.off: 'Parry House', 43, Moore Street, Chennai - 600 001, India. Tel.: +91-44-3000 6161 Fax : +91-44-3000 6149 Email : cumigeneral®cumi.murugappa.com Website : www.cumi.murugappa.com CIN No.: L29224TN1954PLC000318. 161h August 2018 BSE Limited 1st Floor, New Trading Ring Rotunda Building, P J Towers Dalal Street, Fort Stock Code: 513375 Mumbai 400 001 National Stock Exchange of India Ltd. Plot No. C/1, G Block Sandra - Kurla Complex, Sandra (E) Stock Code: CARBORUNIV-EQ Mumbai 400 051 Dear Sir/Madam, Sub: Press Release on the impact of Kerala Rains on the Company's operations A copy of the press release being made on the impact of the Kerala rains on the Company's operations is enclosed herewith. Kindly note that this event is not a Material event as per the Company's Policy for determination of materiality for disclosure of information or events to stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The hyde! power plant of the Company situated in Maniyar is neither a unit nor a division of the Company. However, this announcement is being disseminated for the information of the public. Kindly take the above on record . Yours faithfully For Carborundum Universal Limited Rekha~~ SLirendhiran Company Secretary Encl.: As above murugappa~ murugappa~ Press Release by Carborundum Universal Limited on the impact of Kerala Rains on its operations Chennai, 16th August 2018: The torrential and unprecedented rains in Kerala has caused wide spread disruption in normal activities of the people of the state.
    [Show full text]
  • Press Release Over 800 Participate in the Madras Quiz 2021
    Press Release Over 800 participate in the Madras Quiz 2021 Chennai, August 29, 2021: Chennai’s much-loved quizzing event, the Madras Quiz successfully completed its second online edition. It had over 800 participants at the preliminary round and the top scoring 8 finalists were selected for the finals. Hosted by popular Quizmaster, Dr Sumanth C Raman, the quiz based on ‘All things Madras’ involved several interesting facets of Madras. Close to 2000 viewers witnessed the finals LIVE on Murugappa Group’s YouTube channel. Tejas Venkataramanan won the title, while Karthik Bhatt was the first runner up. Akash Vi R and Raajasheelaa Raajaraajan shared the place for the second runner-up. The other finalists were Krishnan A S, Aravindan Sudarsan, R Venkatesh and Jayakanthan. The Madras Quiz, presented by Murugappa Group, has become one of the most awaited quizzing events of Madras week celebrations. Over the years, it has attracted ardent quizzers who come together to celebrate Madras and its legacy. About Murugappa Group Founded in 1900, the INR 381 Billion (38,105 Crores) Murugappa Group is one of India's leading business conglomerates. The Group has 29 businesses including ten listed Companies traded in NSE & BSE. Headquartered in Chennai, the major Companies of the Group include Carborundum Universal Ltd., CG Power and Industrial Solutions Ltd., Cholamandalam Financial Holdings Ltd., Cholamandalam Investment and Finance Company Ltd., Cholamandalam MS General Insurance Company Ltd., Coromandel International Ltd., Coromandel Engineering Company Ltd., E.I.D. Parry (India) Ltd., Parry Agro Industries Ltd., Shanthi Gears Ltd., Tube Investments of India Ltd. and Wendt (India) Ltd.
    [Show full text]
  • PRESS RELEASE ( Draft )
    Press Release – E.I.D.-Parry (India) Ltd. Financial Results Chennai, August 05, 2020: EID Parry (India) Limited, one of the largest manufacturers of Sugar in India, has reported financial results for the quarter ended 30th June 2020. Consolidated performance for the quarter ended 30th June 2020: The consolidated revenue from operations for the quarter ended 30th June 2020, was Rs.4,142 Crore registering a increase of 32% in comparison to the corresponding quarter of previous year of Rs.3,127 Crore. Earnings before depreciation, interest and taxes (EBITDA) for the quarter ended 30th June 2020 was Rs.448 Crore registering an increase of 140% in comparison to the corresponding quarter of previous year profit of Rs.187 Crore. Consolidated profit after tax and non-controlling interest was Rs.29 Crore compared to a loss of Rs.28 Crore in corresponding quarter of previous year. Standalone performance for the quarter ended 30th June 2020: The Standalone revenue from operations for the quarter ended 30th June 2020 was Rs.491 Crore in comparison to the corresponding quarter of previous year of Rs.389 Crore. Earnings before depreciation, interest and taxes (EBITDA) and before exceptional item for the quarter was Rs.6 Crore compared to a loss of Rs.31 Crore in corresponding quarter of previous year. Standalone profit after tax for the quarter was Rs.226 Crore as against a loss of Rs.53 Crore in corresponding quarter of previous year. Sugar Division The Consolidated Sugar operations reported an operating loss of Rs.29 Crores (corresponding quarter of previous year: Loss of Rs.53 Crores) for the quarter.
    [Show full text]
  • Iob Retirees' Association
    I.O.B. RETIREES’ ASSOCIATION (Affiliated to the All India Bank Retirees’ Federation, New Delhi) Cordially invites you to attend the Platinum Jubilee celebrations of Indian Overseas Bank On Wednesday the 10th August 2011, 05.30 p.m. Sri M. Narendra Chairman and Managing Director, Indian Overseas Bank will be the Chief Guest Sri AL. Chandramouli President, I.O.B.Retirees Association presides. Greetings by Sri A. Vellayan Director, Indian Overseas Bank & Chairman, Murugappa Group Smt. Nupur Mitra Executive Director, Indian Overseas Bank Sri A.K. Bansal Executive Director, Indian Overseas Bank Sri G. Ravindrakumar Gandhi General Manager, Indian Overseas Bank Com. L. Balasubramanian President, AIOBEU Venue: Dakshinamurthy Auditorium, P.S. Higher Secondary School, 215, Ramakrishna Mutt Road, (Opp. R.K. Mutt) Mylapore, Chennai 600 004 PROGRAMME (10-08-2011 ) 05.00 p.m. : High tea 05.30 p.m. : Platinum Jubilee celebrations of our bank. D Prayer D Welcome Address: Sri. T.R. Venkataraman D Presidential Address: Sri. AL. Chandramouli, President D Address by Chief Guest: Sri. M. Narendra, C & M.D., IOB D Presentation ofPay Back Scheme cheque to Mr. A.R. Palanisamy, Secretary SEED Introductory Remarks: Sri. J. Balasubramanian Presentation of Cheque: Sri. KM. Narayanan D Honouring Retired General Managers D Honouring AIOBEU and IOBOA D Felicitations : Sri. A.Vellayan, Director, IOB Smt. Nupur Mitra, Executive Director IOB Sri. A.K. Bansal, Executive Director IOB Sri. G. Ravindrakumar Gandhi, General Manager, IOB Com. L. Balasubramaniam, President AIOBEU Com. S. Srinivasan, General Secretary AIOBEU D Vote of Thanks :Sri. B. Ramji , General Secretary D National Anthem Quarterly News Bulletin of I.O.B.
    [Show full text]