Tag Archive for financial

After a financial turnaround, Jindal Stainless Ltd gets a rating upgrade

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Jindal Stainless Ltd. (JSL), a leading stainless steel major, has received a rating upgrade from CARE, to ‘BBB-’ from BB+, reflecting Company’s improved profitability, strengthening balance sheet, and sustained operational progress. Commenting on the report, Managing Director of JSL, Mr Abhyuday Jindal said, “We are encouraged by the improvement in our rating. This development endorses that we are now more than financially and operationally stable, and poised to take our product mix and growth trajectory to the next level. The CARE ratings are a reflection of the inner health of the organization.”

Detailing the key drivers for JSL’s improved ratings, the report reads, ‘The Company has reported improvement in operational and financial performance during Q4FY18 with capacity utilization of 99.86% during Q4FY18 as against 90.95% in similar period previous year. The same has resulted in improved total operating income (TOI) and Profit Before Interest, Leasing, Depreciation and Tax (PBILDT), which increased to Rs. 3,183 crore and Rs. 399 crore respectively in Q4FY18, representing a growth of ~37% and ~22% respectively over similar period previous year. During full year FY18, the Company reported healthy growth in income and profitability with TOI of Rs. 10,803 crore and PBILDT of Rs. 1,299 crore, representing a growth of ~30% and ~18% respectively over FY 17. The Company reported healthy gross cash accruals of Rs. 787 crore during FY 18 which was significantly higher than Rs. 397 crore reported in FY 17.’ Read more

JM Financial Credit Solutions Ltd. NCD Fully Subscribed on Day 1

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

JM Financial Credit Solutions Ltd. NCDs Issue fully subscribed with the Retail response of 3.17 times, HNI – 1.68 timesfollowed by QIB – 0.20 times, as of 4:25 PM on its first day itself.

 

JM Financial Credit Solutions Rs. 750cr NCD Issue oversubscribed 2.19 times

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By Vivek K. Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Mr. Shashwat Belapurkar, CEO, JM Financial Credit Solutions Limited, said, “We are overwhelmed by the response to JM Financial Credit Solutions Ltd.’s maiden Public Issue of NCDs, which also has the distinction of being the first from the JM Financial Group. Overall, the Public Issue of NCDs (including Greenshoe Option) was oversubscribed 2.19 times leading to a total subscription of Rs. 1,646 crore. Retail Investors (Category IV) and HNIs (Category III) have invested a total amount of around Rs. 1,468 crore, which is more than total NCD Issue size of Rs. 750 crore (including Greenshoe Option). The oversubscription of over 3.6 times in the Retail Investors category justifies our higher proportion of 30% allocation ratio to Retail Investors in the basis of allotment. The success of our NCD Public Issue sets a new benchmark for a wholesale NBFC such as JMFCSL that provides integrated financial solutions to real estate developers with a focus on residential project financing. This is a testimony to the success of the transformational changes in the real estate sector and will further deepen the Indian debt markets inviting meaningful long term wider public participation in debt offerings from wholesale NBFCs.” Read more

JM Financial Credit Solutions Limited NCD Issue to open on May 28, 2018

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By Vivek K. Mobile: 09920183006 Email:indianshowbusiness@gmail.com

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Mr. Shashwat Belapurkar, Chief Executive Officer, JM Financial Credit Solution Limited while addressing the media during the press conference held in Mumbai

JM Financial Credit Solutions Limited (the “Company”), the NBFC arm of the JM Financial Group providing integrated financial solutions to real estate developers, proposes to open on May 28, 2018, a public issue of secured, rated, listed redeemable, Non-Convertible Debentures of face value of Rs. 1,000 each (“Secured NCDs”) with a Base Issue size of Rs. 300 crore with an option to retain oversubscription upto Rs. 450 crore aggregating upto Rs. 750 crore (“Tranche I Issue”), which is within the Shelf Limit of Rs. 2,000 crore. Read more

Key Highlights of Voltas’ Consolidated Financial Results

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By Vivek K. Mobile: 09920183006 Email:indianshowbusiness@gmail.com

 

FY 2017-18

FY 2016-17

%

Rs. Crores

Rs. Crores

change

Profit after tax

578

520

11%

Profit before tax

805

720

12%

Total Income

6602

6307

5%

 The Board of Directors of Voltas Limited, the global air conditioning and engineering services provider of the Tata Group, today announced the Consolidated Financial Results (including the Consolidated Segment Report) for the quarter and year ended March 31, 2018. The Company has adopted Indian Accounting Standards (“Ind-AS”) from 1st April, 2016 and the accounts have been accordingly prepared.

 

Consolidated Results for the year ended March 31, 2018:

The Consolidated Total Income for the year ended March 31, 2018 was higher by 5%, at Rs. 6602 crores as compared to Rs. 6307 crores last year, owing to improved efficiencies across businesses. Profit before tax was higher by 12%, at Rs. 805 crores as compared to Rs. 720 crores not withstanding lower other income of Rs. 174 crores in the current year as compared to Rs. 212 crores last year. Profit after tax was also higher by 11%, at Rs. 578 crores as compared to Rs. 520 crores last year. Earnings per Share (Face Value per share of Re. 1) as at March 31, 2018 improved to Rs. 17.30 as compared to Rs. 15.64 last year. Total Comprehensive Income, including notional mark to market revaluation gains / losses on equity investments, foreign currency translations, etc. for the year was higher at Rs. 741 crores as compared to Rs. 601 crores last year. Read more

HINDUJA VENTURES LIMITED (‘HVL’) AUDITED STANDALONE AND CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDED MARCH 31, 2018

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By Vivek K. Mobile: 09920183006 Email:indianshowbusiness@gmail.com

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Standalone total income for the year end Rs. 242.60 Crores

PAT Rs. 125.65 Crores

 

Recommendation of Dividend at 175% for the financial year 2017-2018

 

The Board of HVL at its meeting held today approved audited standalone and consolidated financial results for the year ended March 31, 2018.

 

HVL Standalone Results: -

 

  • The net profit after tax stood at Rs.125.65 Crores for the financial year ended March 31, 2018 as against Rs. 102.90 Crores for the financial year ended March 31, 2017.

 

  • HVL on standalone basis reported a total income of Rs.242.60 Crores for the financial year ended March 31, 2018 as against Rs. 203.39 Crores for the financial year ended March 31, 2017.

 

Consolidated Financial Results: -

 

  • Consolidated total income for the financial year ended March 31, 2018 is Rs. 868.97 Crores as against to Rs. 826.00 Crores for financial year ended March 31, 2017.

 

  • Consolidated net loss after tax and minority interest for the financial year ended March 31, 2018 stood at Rs 255.54 Crores as against loss of Rs. 56.61 Crores for the financial year ended March 31, 2017. Read more

OnMobile Global Limited appoints Ganesh Murthy as Chief Financial Officer

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

OnMobile, the global leader in mobile entertainment, announces the appointment of Ganesh Murthy to the role of Chief Financial Officer.  Murthy’s appointment comes during a time of tremendous opportunity for OnMobile. In 2018, OnMobile will be expanding the suite of entertainment products to include video, gaming and sound – enabling telecommunications operators to deliver additional services to their customers. Read more

Ducati India introduces Ducati Financial Services

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

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Ducati India Pvt. Ltd., in partnership with Volkswagen Finance Private Limited (‘VWFPL’), launches Ducati Financial Services (DFS), which offers Ducati customers a personalized financing solution through the Ducati dealer network across India. Read more

Let women equally participate in financial investment

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Indian women have been taking responsibility of managing their careers along with their homes. Usually, this skill is passed on from mothers to their daughters. But when it comes to making financial decisions, her masculine counterpart takes the reins. It’s noticed that women find their comfort in gold investments or bank FDs. Read more

HINDUJA VENTURES LIMITED(‘HVL’) UN-AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2017.

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By Vivek K. Mobile: 09920183006 Email:indianshowbusiness@gmail.com

The Board of HVL at its meeting held today approved un-audited standalone financial results for the quarter and nine months ended December 31, 2017.

 

HVL Standalone Results:-

 

  • HVL on standalone basis reported a total income of Rs. 169.12 Crores for the nine months ended December 31, 2017 as against Rs. 173.91 Crores for the nine months ended December 31, 2016.

 

  • The net profit after tax for nine months ended December 31, 2017 stood at Rs. 88.80 Crores as against Rs. 88.39 Crores during nine months ended December 31, 2016. The Net Profit After Tax for the period ended grew by 0.47 %.

 

  • For the quarter ended December 31, 2017, the total income of the Company stood at Rs. 64.88 Crores compared to Rs 53.58 Crores for the quarter ended September 30, 2017 and Rs. 52.79 Crores for the quarter ended December 31, 2016.

 

  • The net profit after tax for the quarter ended December 31, 2017 stood at Rs. 33.76 Crores as against Rs. 29.55 Crores for the quarter ended September 30, 2017 and Rs. 35.99 Crores for the quarter ended December 31,2016. Read more