Radico Khaitan report net profit of Rs17.4 crore for March quarter

Radico Khaitan registered net sales in Q4 of FY2011 at Rs333.8 crore, against sales of Rs297.7 crore over corresponding quarter in the previous year

Radico Khaitan Ltd, one of the largest liquor companies in the country announced its audited fourth quarter results for the year 2010-11. The company has registered net profit of Rs17.4 crore compared to Rs.9.6 crore in the corresponding quarter of FY2010. The company registered net sales in Q4 of FY2011 at Rs333.8 crore, against sales of Rs297.7 crore over corresponding quarter in the previous year, a growth of 12.1%.

Dr Lalit Khaitan, chairman & managing director, Radico Khaitan said, "Radico Khaitan continues to consolidate its position as one of the leading players in the spirits industry in India. We had a strong performance in FY2011 as a result of our continued focus on the premiumisation of our portfolio. The company has registered net profit of Rs72.8 crore compared to Rs41.5 crore in the previous year of FY2010. The company registered net sales FY2011 at Rs1330.6 crore, against sales of Rs1147.1 crore over corresponding year, thereby showing a growth of 16.0%".  

He further added, "Last year, Magic Moments performed well and achieved volumes of close to 2 million cases and we were delighted to receive the Monde Selection's Grand Gold Award for one of our remix brands. Morpheus premium brandy, which was launched in mid 2009, has not only won Gold at the Monde Selection this year but has also attained leadership position in its category and is growing at a rapid pace. After Dark whisky which was test marketed last year is being rolled out on a nationwide basis this year. We also remain focused on enhancing operational efficiency, productivity and cash flows".

On Wednesday, Radico Khaitan ended 0.57% down at Rs138.35 on the Bombay Stock Exchange, while the benchmark Sensex ended 0.28% down at 18,086.20.

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Neyveli Lignite’s output up by 3.6% in FY11

The power generation of Neyveli Lignite went up by 1.27% at 17,879 million units (MU) in last fiscal, over 17,656 MU in FY10

Navratna company Neyveli Lignite Corporation (NLC) said that it has achieved a marginal 3.6% rise in lignite production at 231 lakh tonne in 2010-11, over a year ago.

The public sector firm had produced 223 lakh tonne of lignite in 2009-10, the company said in a statement to the Bombay Stock Exchange (BSE).
The power generation of NLC also went up by 1.27% at 17,879 million units (MU) in last fiscal, over 17,656 MU in FY10, it said.

The export of power from the thermal stations of the state-owned firm registered 0.9% rise at 14,969 MU in FY11, over 14,828 MU a year ago, the statement added.

Currently, NLC operates three open cast lignite mines at Neyveli and one at Barsingsar, Rajasthan having a total capacity of 30.50 million tonne per annum.
It also has three thermal power stations at Neyveli and one at Barsingsar with a total installed capacity of 2,740 megawatt.

On Wednesday, NLC ended 0.5% up at Rs101.50 on the Bombay Stock Exchange, while the benchmark Sensex ended 0.28% down at 18,086.20.

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Atul Auto mulling foray into agricultural machines biz

Atul Auto is planning to foray into the agriculture machines business through acquisition of a Gujarat-based company

Rajkot-based Atul Auto, a dominant player in the three-wheeler market, said it is planning to foray into the agriculture machines business through acquisition of a Gujarat-based company.

"We are keen to acquire a Gujarat-based company to enter the agriculture machines business. We are in the discussion stage and it (acquisition) is likely to happen by end-June this year," Atul Auto's director Vijay Kedia told PTI.

"It is a good company. Its products have good demand not only in the domestic market, but also in Africa. This acquisition will help us to enter the African market for selling both three-wheelers as well as agriculture machines," he said.

However, Kedia, did not reveal the target company's name and valuation.

The three-wheeler maker has recently entered Bangladesh with the launch of its product Atul Gem, a rear-engine model with a six-seater capacity.
For this, Atul Auto has tied up with Bangladesh-based Atul Autos Bangladesh (AABL), which, in turn, has roped in Bangladesh Machine Tools Factory (BMTFL) for assembling the vehicles there.

"We will provide technical assistance to AABL for assembling the vehicles. Experts from the technical team of the company will supervise the assembling work of the vehicles at AABL. The company does not propose to provide any financial assistance to AABL," Kedia said.

"Our sole objective is to promote sales of the vehicles manufactured by the company in Bangladesh," he said, adding that the company expected to sell 2,000 units and a Rs 25 crore revenue by December 2012.

The company's manufacturing facility at Rajkot in Gujarat produces diesel as well as GNG and LPG operated three-wheeler commercial vehicles.
The BSE-listed company is also looking to collaborate with a foreign entity to enter the four-wheeler market.

"We are keen to collaborate with a company whose technology will help us manufacture light commercial vehicles (LCVs)," Kedia said, adding, "We have not finalised anything yet."

Earlier, Atul Auto was interested in acquiring a majority stake in Scooters India, an ailing public sector undertaking in which the government was mulling a divestment.

The company plans to double its capacity in both the passenger as well as commercial vehicles segments from the current 24,000 units to 48,000 units by 2011.

It also plans to ramp-up its dealership network to 140 from the current 115 by end-this year.

On Wednesday, Atul Auto ended 1.94% up at Rs128.80 on the Bombay Stock Exchange, while the benchmark Sensex ended 0.28% down at 18,086.20.

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