SMIL has joined hands with Ricardo and Sango for technical assistance to the development programs
Sharda Motor Industries Ltd (SMIL), the leading tier-1 supplier to auto industries, has announced the opening of a research & development centre at Mahindra World City, Chennai. The R&D Centre besides providing local support from concept to implementation will also help reduce cost and enhance performance through value engineering and value analysis. SMIL has joined hands with Ricardo and Sango for technical assistance to the development programs.
SMIL has already invested Rs30 crore in the facility and plans to further augment it to Rs75 crore by 2014.
ND Relan, chairman, SMIL said, “The R&D centre will provide customer support for exhaust product development, lead advanced emission control and noise reduction technologies. The centre will also be involved in modeling and simulation tools to design & optimize exhaust components and full system. We will also explore opportunities for joint development and partnership program”
He further added “Chennai was our natural choice for setting up the centre due to the availability of abundant engineering talent and also with the presence of OEM’s.”
SMIL has spent considerable amount of time and resource in building this centre. It took nearly 5.5 years to conceive and 2.5 years to build the R&D centre.
Sharda Motor has 13 manufacturing units which are already operational and two more are in the offing. Sharda Motor Industries spread its tentacles to seven states of India from Uttaranchal in the north to Tamil Nadu in the south through Uttar Pradesh, Haryana, Delhi, Gujarat and Maharashtra.
Total income has increased from Rs13,907.50 million to Rs14,783 million
Shriram Transport Finance Company Ltd, one of the largest asset financing NBFCs in the country, has announced the financial results for the quarter ended December 31, 2011. The company has posted a profit after tax of Rs3,026.80 million for the quarter ended December 31, 2011 compared to Rs3,013.60 million for the corresponding quarter last fiscal.
In the same period, total income has increased from Rs13,907.50 million to Rs14,783 million. Shriram Transport Finance is the flagship company of the Shriram group which has significant presence in consumer finance, life insurance, general insurance, stock broking and distribution businesses.
In the late afternoon, Shriram Transport Finance was trading at around Rs553 per share on the Bombay Stock Exchange, 3.45% down from the previous close.
Himadri Chemicals’ topline has been in line with the projection of 30% CAGR the bottom line has also been a robust 12% for FY 2011-12
Himadri Chemicals & Industries, one of the few integrated specialty carbon corporation globally and the largest coal tar by products manufacturer in the country, has announced its financial results for the third quarter ended December 31, 2011. The company registered an increase in net sales by 64% to Rs301.33 crore from Rs184.22 crore in the corresponding quarter in the previous year.
EBIDTA stood at Rs58.48 crore against Rs52.08 crore in the corresponding quarter registering an increase of 12% Y-o-Y. During the quarter the EBIDTA margin contracted mainly due to increase in the cost of raw material and lower realization from finished products. The net profit after tax stood at Rs12.51 crore against Rs29.46 crore due to Rs51.93 crore of Forex losses, which primarily consists of mark-to-market losses on foreign currency exposure due to the devaluation of the rupee.
Anurag Choudhary, CEO, Himadri Chemicals and Industries Ltd, said, “While the company’s topline has been in line with the projection of 30% CAGR the bottom line has also been a robust 12% for FY 2011-12. Our coal tar distillation plant in Shangdon Dawn, China has commenced production and will is one of the largest liquid pitch terminals globally.
In the late afternoon, Himadri Chemicals was trading at around Rs44 per share on the Bombay Stock Exchange, 5.84% down from the previous close.