LAKSHMI AUTO COMPONENTS - A WORTHY PROPOSITION
Article Abstract:
Lakshmi Auto Components (LAC) manufactures crankshafts, connecting rods, automotive gears and gear shafts with an installed capacity profit 112 lakh components per month. TVS Suzuki lifts components and has 65 percent stake in LAC. LAC plans to expand the capacity to 200 lakh components per month to meet the additional requirement of its parent. The expansion project is likely to cost Rs43 crore. It has come out with a rights issue in the ratio of 1:2 for its existing shareholders. The rights issue will fetch Rs9 crore and the share is priced at a premium of Rs10. The present equity of LAC is Rs9 crore which will increase to Rs13.5 crore after the rights issue. LAC plans to utilise Rs14 crore from internal accruals for the project and bring in Rs20 crore through a term loan. The project will start commercial production by May 1999. LAC has posted a net profit of Rs9.03 crore, an operating profit of Rs16.51 crore and sales of Rs35.21 crore for the nine months ended December 31, 1998. It has posted a net profit of Rs8.23 crore, an operating profit of Rs16.38 crore on a sales of Rs32.85 crore for 1997-98. (rk)(m)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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LAKSHMI AUTO NET UP 53.4%
Article Abstract:
Lakshmi Auto Components Ltd has posted 53.4 percent rise in the net profit to Rs9.06 crore in the first nine months ended December 31, 1998 (Rs5.90 crore in the first nine months of 1997- 98). Its turnover rose to Rs35.12 crore (Rs23.92 crore). It has recorded interest charges of Rs2.39 crore, depreciation of Rs3.34 crore and tax of Rs1.78 crore. In the third quarter ended December 31, 1998, the company recorded 39.68 percent growth in net profit to Rs3.35 crore (Rs2.40 crore) and a higher turnover of Rs15.34 crore (Rs8.68 crore). (gs)(m)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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LAKSHMI AUTO SALES, NET HIGHER
Article Abstract:
Lakshmi Auto Components Ltd, a part of the TVS group, has posted a turnover of over Rs19.78 crore in the first half of 1998-99 against Rs15.23 crore in the first half of 1997-98. Its net profit has increased to Rs5.71 crore against Rs3.5 crore. Its interest charges have risen to Rs1.52 crore from Rs0.69 crore while its depreciation declined to Rs1.72 crore from Rs1.76 crore. (khr)
Comment:
Lakshmi Auto Components Ltd, a part of the TVS group, has posted a turnover of over Rs19.78 crore in the first half of 1998-99.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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