RIKVIN FLOORS: A DUD SHARE
Article Abstract:
Rikvin Floors Ltd (RFL) manufactures quartz reinforced vinyl flooring in technical collaboration with a Rieber & Sons a/s of Norway. Its plant was set up in the Nalgonda district of Andhra Pradesh at a cost of Rs15 crore. It has an installed capacity of 1.8 million square meters per annum. Its maiden issue at par of Rs2.12 crore and a rights issue at 1:2 at par both fared well in the market. RFL began commercial production a year behind schedule and it was also unable to meet its projected capacity utilisation. It incurred losses for the first three years of operations. For the first half of 1997-98, its profit after tax (PAT) declined by over 50 percent to Rs0.10 crore and its interest burden increased by 18 percent. RFL is unable to supply products to its dealers due to a shortage of funds. The investors have not received any dividend and the share price has dipped to Rs1.50. (uh) ------------------------------------------------------------ Financial Highlights of Rikvin Floors (Rs in crore) ------------------------------------------------------------ Particulars 1H 1997-98 1H 1996-97 FY 1997-98 ------------------------------------------------------------ Sales (including other income & excise) 7.56 7.06 14.54 ------------------------------------------------------------ Profit before depreciation, interest and tax 1.57 1.51 3.13 ------------------------------------------------------------ Depreciation 0.36 0.35 0.74 ------------------------------------------------------------ Interest 1.11 0.94 2.06 ------------------------------------------------------------ Profit after tax 0.10 0.21 0.30 ------------------------------------------------------------ Equity 9.26 8.26 8.26 ------------------------------------------------------------ Earnings per share 0.24 0.51 0.36 (in Rs) (annualised) (annualised) ------------------------------------------------------------
Comment:
Manufactures quartz reinforced vinyl flooring in India in technical collaboration w/ Rikvin Floors
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
TTK PRESTIGE: EXPORTS RESTORE PRESTIGE
Article Abstract:
TTK Prestige is a leader in the pressure cooker segment in India with a market share of 25 percent. It has a presence in USA as Manttra Inc. Manttra Inc sells its products under the Manttra brand name. It has 20 percent share of the market in USA. It aims to earn US$ 10 million through exports in 1998-99 (US$4 million in 1997-98). It is venturing into Australia with its Manttra brand of pressure cookers and non-stick cookware. It is likely to spend $1 lakh to meet the merchandising expenses in Australia, of which $48,000 will be set aside for offering free samples. It plans to launch anodised cookware in USA and Australia soon. It has identified Germany and France as potential markets and will launch its products in these countries in 1998-99. TTK Prestige will also focus on west Asia, south- east Asia and Africa. It plans to expand its production capacity to cater to the increasing export demand. (tsm) (kvr)
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
CHEVIOT COMPANY: WILL THE FORTUNE FALL?
Article Abstract:
Cheviot Company of Calcutta has diversified from conventional products like jute sacks and hessians into value-added fabrics and industrial cloth. The company exports its products to the US and Europe. Its production increased by 17 percent to 35,000 tonnes in 1997-98. It posted a net profit of Rs5.83 crore on sales of Rs89.04 crore in 1997-98 against a net profit of Rs2.70 crore on sales of Rs85.96 crore in 1996-97. Its performance in 1998-99 may be affected as its manufacturing unit in West Bengal has stopped production since June 7, 1998 due to labour problems. The company has decided to pay a 25 percent dividend for 1997-98. (khr)
Comment:
Has diversified from conventional products like jute sacks and hessians into value-added fabrics and industrial cloth
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1998
User Contributions:
Comment about this article or add new information about this topic: