RAYMOND: THE COMPLETE SCRIP
Article Abstract:
Raymond, a Vijayapat Singhania company, holds 40 percent of the worsted suitings market. Since 1997, Raymond has been posting a poor performance due to various reasons. Raymond was hit by the overall slowdown in the industry. It diversified into the steel and cement businesses where the scenario was dull. Raymond suffered a setback in its main business textiles as both its Chhindwara and Thane plants witnessed labour unrest. Raymond is now undergoing a restructuring exercise. It has sorted out its labour problems with a long term wage agreement. Raymond has decided to hive off its steel division into a joint venture with Thyssen Steel Group of Germany. The venture will become effective from July 1, 1998. Raymond will hold a 26 percent stake in the joint venture and will receive US$106.5 million. It will also receive cash for its net current assets which will enable it to repay high cost carrying debt even as its loss making division will not affect the overall profitability of the company. Raymond is scouting for a joint venture partner for its cement division. As of June 1998, Raymond's scrip was quoting at Rs123. (tsm) ------------------------------------------------------------ Raymond: Financial Results (In Rs Crore) ------------------------------------------------------------ Particulars 1997-98 1996-97 ------------------------------------------------------------ Sales 1,192.95 977.77 ------------------------------------------------------------ Gross Profit 236.65 160.32 ------------------------------------------------------------ Net Profit 45.02 9.44 ------------------------------------------------------------ Earnings Per Share(Rs) 6.00 1.26 ------------------------------------------------------------>TE
Comment:
Posts increase in net profit to Rs45.02 crore in 1997-98 from Rs9.44 crore in 1996-97
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1998
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BHEL
Article Abstract:
Bharat Heavy Electricals Ltd (BHEL), a producer of power equipment, is one of the public sector navarathna units. It manufacturers turbo sets, locomotives, hydro sets, power transformers and switch gear. It has also been involved in setting up hydro, thermal and gas turbine based power stations in India. It won a contract to export motors to France in January 1998. It has got an order to supply generating equipment to Tata Electric Company for its 240 mw thermal power project at Jojobera near Jamshedpur. It has also got an order to supply compressors to Indian Oil Corporation. BHEL posted sales of Rs6466.43 crore in 1997-98 against Rs5755.28 crore in 1996-97. Its net profit increased to Rs704.20 crore from Rs463.19 crore. It gave an earnings per share of Rs28.77 on an equity of Rs244.76 crore in 1997-98. (khr)
Comment:
Posts sales of Rs6466.43 crore in 1997-98 against Rs5755.28 crore in 1996-97
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1998
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SPIC ELECTRONICS - `TURNING' THE CORNER
Article Abstract:
Spic Electronics and Systems (SPEL) of Chennai manufactures electronic integrated circuits, floppy diskettes and computer tapes. It had accumulated losses of Rs15.32 crore in 1996-97. It made a turnaround by focusing on global assignments, better working capital management and reducing interest costs. In 1997- 98, SPEL almost doubled its turnover at Rs49.28 crore. SPEL has also acquired the ISO 9002 certification. Its scrip is trading at Rs6.15. (uh)
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1998
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