NANDAS TO HIKE STAKE IN EYML IN LIEU OF PAYMENT
Article Abstract:
Escorts Ltd, which has to get Rs70 crore from Escorts Yamaha Motors Ltd (EYML), will instead get additional equity in EYML. This will hike the equity of EYML to Rs167 crore from Rs27 crore at present. EYML is a joint venture between Escorts and Yamaha Motor Company (YMC) of Japan. YMC has also agreed to bring in Rs70 crore as its contribution the equity of EYML. The Nandas, the promoters of Escorts, have agreed to EYML's proposition to convert Rs70 crore into equity. EYML had acquired the assets of Escorts' two-wheeler business for Rs100 crore, which was to be paid in five years. EYML has already paid Rs30 crore to Escorts. (khr)
Comment:
Will get additional equity from Escorts Yamaha Motors, increasing latter's equity from Rs27 crore to Rs167 crore
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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HMT Q3 LOSS LOWER AT Rs25.43 Cr
Article Abstract:
HMT Ltd has posted a decline of 13.8 percent in loss at Rs25.43 crore for the third quarter ended December 31, 1998 (Rs29.51 crore for the third quarter ended December 31, 1997). Its net sales has declined by 22.7 percent to Rs197.49 crore (Rs255.66 crore). Its operational other income is Rs9.38 crore (Rs10.79 crore). Its non-operational other income is Rs24.83 crore (Rs2.85 crore). Its interest cost is Rs22.78 crore (Rs22.32 crore). Its depreciation is Rs4 crore (Rs4.2 crore). Its gross loss after interest before depreciation and tax declined by 15 percent to Rs21.43 crore (Rs25.31 crore). (rk)(m)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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EEL TO GIVE 40% DIVIDEND DESPITE 43% DROP IN NET
Article Abstract:
Elgi Equipments Ltd (EEL) has posted 43 percent drop in net profit to Rs6.03 crore in 1997-98 (Rs10.66 crore in 1996-97). The company has declared a 40 percent dividend for the year. Sales dropped by 23 percent to Rs143.87 crore (Rs186.40 crore). Operating expenses was Rs119.37 crore (Rs158.48 crore). Export turnover was Rs7.13 crore (Rs8.23 crore). Depreciation was Rs7.80 crore (Rs6.02 crore). Provision of tax was Rs3.80 crore (Rs3.50 crore). (gs)
Comment:
Posts 43% drop in net profit to Rs6.03 crore in 1997-98 vs Rs10.66 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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