BLUEDART EXPRESS (BEL)
Article Abstract:
BlueDart Express Ltd (BEL) was started in 1983 by three promoters Clyde Cooper, Tushar Jani and Khushroo Dubash. In 1994, in order to raise funds for various activities like construction of a super hub', installation of a VSAT and purchase of cargo vehicles and mechanised handling equipment, it made an initial public offer (IPO) worth Rs382.5 million at Rs140 per share. It is the second largest in the courier business with 22.9 percent of the market share and the largest in the domestic market with 27.7 percent share. It has tie-up with Federal Express (FedEx) which provides BEL with marketing and consumer service support, supervision, billing and international line haul. FedEx has helped BEL to extend its services to 211 countries through its network. In the domestic market, BEL has over 1,500 vehicles and a network covering 965 centres and two aircraft for cargo services. Its 75 percent subsidiary Blue Dart Aviation owns two aircraft each with a capacity of 16.5 tonnes per day (tpd) plus a buffer of 4 tpd). The aviation project had an investment of more than Rs600 million and after two years, now it will make money only in the first quarter of the financial year 1999. In 1998-99, due to the slowdown of the industry, BEL's net sales increased only by 8.2 percent and ended with a net loss of Rs24.5 million (which was marginally lower compared to 1997's loss of Rs25.2 million). However, during the first quarter of 1999, it has reported a net profit of Rs7.7 million. The company converted the debentures (issued in 1996) to shares in July,1998, which resulted in the equity increase from Rs88 million to Rs102 million. (um)
Comment:
Starts in 1983 by three promoters Clyde Cooper, Tushar Jani and Khushroo Dubash
Publication Name: Financial Express Investment Week
Subject: Business, international
ISSN: 0015-2005
Year: 1998
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ATCO GROUP: TILTED SCALES
Article Abstract:
The Atco group of Mumbai comprises of two listed companies, Atco Industries Ltd (AIL) and Atco Healthcare Ltd (AHL). The credibility of the group has been affected by frequent tax raids, questionable accounting practices and unsound financial management. AIL had raised Rs77.3 million through a public issue in 1993 by misleading investors. AIL manufactures electronic weighing scales. Its scrip price has declined and investors have lost interest in the scrip. For the half year ended September 1998, AIL posted a turnover of Rs387.70 million while its net profits stood at Rs42.20 million. AHL posted a net profit of Rs0.10 million on a turnover of Rs45.50 million. (tsm)
Comment:
The Atco group of Mumbai comprises of two listed companies, Atco Industries Ltd (AIL) and Atco Healthcare Ltd (AHL).
Publication Name: Financial Express Investment Week
Subject: Business, international
ISSN: 0015-2005
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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