MADURA COATS: WEAKENING FUNDAMENTALS
Article Abstract:
Coats Viyella India Ltd (CVIL) plans to change its name to Madura Coats (MC). It is the exclusive licensee for Van Heusen, Louis Philippe, Allen Solly, Elysee, Byford and Peter England brand of shirts in India. It plans to merge the fabrics and industrial textiles units. It is likely to implement Enterprise Resource Planning at its Madurai facility in 1998-99 and at the Ambasamudram facility in 1999-2000. It had restructured itself by merging the accessories business (Madura Accessories) with Coat India's thread business. It plans to reduce the staff from 14,500 (1995) to 8,500 by the year 2000. It recently floated a rights issue of 1:2 at a premium of Rs55. The CVIL scrip is being traded at Rs53.45. Its book value is Rs92.18. (rk) ------------------------------------------------------------ Financial results of Coats Viyella India Ltd ------------------------------------------------------------ Particulars 1996 1997 (Rs in crore) ------------------------------------------------------------ Sales 910.27 969.71 ------------------------------------------------------------ Gross profit 82.81 74.99 ------------------------------------------------------------ Depreciation 25.35 27.91 ------------------------------------------------------------ Interest 45.68 24.72 ------------------------------------------------------------ Tax 2.00 2.00 ------------------------------------------------------------ Net profit 9.15 20.36 ------------------------------------------------------------ Equity 48.14 72.18 ------------------------------------------------------------ EPS (Rs) 1.90 4.23 ------------------------------------------------------------ Book value (Rs) 61.62 92.18 ------------------------------------------------------------ Dividend (%) 10.00 15.00 ------------------------------------------------------------
Comment:
Plans to change its name to Madura Coats
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1998
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software available to boost product development
Article Abstract:
The Hong Kong Productivity Council (HKPC) and U.S-based Unigraphic Solutions (USG) will offer 3D CAD/CAM technology. The new technology could improve the design and production volume among manufacturers. In other words, it could reduce the production cost and products introduction time. HKPC will handle distribution, training and application support of the new system. The program is supported by 20 associations such as Hong Kong Toys Manufacturers Association, Hong Kong Metal Manufacturers Association. *
Comment:
Aliies w/ Hong Kong Productivity Council to offer 3D CAD/CAM technology in Hong Kong
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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