Tag Archive for industries

Reliance Industries Completes Acquisition of 5% Stake in Eros International PLC at $15.00 Per Share

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

Eros International PLC (NYSE: EROS) (“Eros”), a leading global company in the Indian film entertainment industry, announced today that following customary approval processes, the sale of a 5% stake in Eros to Reliance Industries Limited (“Reliance”), previously announced on February 20, 2018, has been completed.

 

Reliance has acquired 3,111,088 newly issued A ordinary shares from Eros which represents 5.0% of Eros’ current issued and outstanding ordinary share capital on a pro forma basis. The purchase price was $15.00 per share, which represents a total cash consideration of $46.6 million.

 

Goldman Sachs & Co. LLC acted as exclusive financial advisor to Eros International Plc in this transaction. Read more

Maharashtra State Industries & Mining Minister Shri Subhash Desai announces special cluster, R&D centre & common sharing facility for plastics industry

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

Shri Subhash Desai, Hon. Maharashtra State Minister for Industries & Mining lights the traditional lamp in the presence of Shri AK Basak, Chairman, PLEXCONCIL (R) and Shri Shyamal Mishra, Jt. Secretary, Union Ministry of Commerce & Industry, Government of India (L) on the occasion of PLEXCONCIL honouring top exporters with awards for FY16 and FY17

The Plastics Export Promotion Council (PLEXCONCIL) honoured top exporters of plastics with Council Awards for the years FY16 (2015-16) and FY17 (2016-17) in the presence of Shri Subhash Desai, Hon. Maharashtra State Minister for Industries & Mining and Shri Shyamal Misra, Joint Secretary, Ministry of Commerce & Industry, Government of India held on July 21, 2018. India’s export of plastics posted a growth of 17.1% at USD 8.85 billion during the year 2017-18 as against USD 7.56 billion in 2016-17, registering a faster pace of growth than the overall merchandise export growth from India as per PLEXCONCIL. Read more

Fine Organic Industries Ltd. Listing Ceremony

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

The management of Fine Organic Industries Ltd Mr. Prakash Kamat (Chairman) and Mr. Mukesh Shah (Managing Director) with other dignitaries at the gong on the occasion of the listing ceremony of Fine Organic Industries Limited held today in Mumbai at the BSE.

 

(L-R): The management of Fine Organic Industries Ltd Mr. Prakash Kamat (Chairman) and Mr. Mukesh Shah (Managing Director) with Mr. Ashish Kumar Chauhan (MD & CEO) BSE while exchanging the memento at the listing ceremony of Fine Organic Industries Limited held today in Mumbai at BSE.

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Fine Organic Industries Limited: Initial public offering of equity shares of face value Rs. 5 each (the “Equity Shares”) to open on June 20, 2018* and to close on June 22, 2018

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

Mr. Devan Kampani (JM Financial Limited), Mr. Tushar Shah (Chief Financial Officer, Fine Organic Industries Limited), Mr. Prakash Kamat (Chairman, Fine Organic Industries Limited), Mr. Mukesh Shah (Managing Director, Fine Organic Industries Limited), Mr. Jayen Shah (Chief Executive Officer, Fine Organic Industries Limited) and Mr. Jibi Jacob (Edelweiss Financial Services Limited) at Fine Organic Industries Limited IPO Press Conference held in Mumbai today.

Fine Organic Industries Limited (the “Company”) proposes to open on Wednesday, June 20, 2018*, an initial public offering of 7,664,994 Equity Shares through an offer for sale by the promoter group selling shareholders (the “Offer”). Read more

Reliance Industries partners with SHRM India to host Asia’s Foremost HR Tech Conference in Hyderabad

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

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SHRM India in partnership with Reliance Industries Ltd. will be organizing the HR Technology Conference & Exposition. Being the 4th of its kind, #SHRMTech18 is set to transform Hyderabad into a melting pot of revolutionized HR Tech trends.

Dates: 26 & 27 April, 2018

Venue: Hotel Novotel, Hyderabad

 

Technology has become an indispensable part of our everyday life and has greatly come to transform and enhance the way we live and work. The two-day conference allows you to witness the latest HR tech innovations where professionals and tech trend-experts gather to create a thriving tech-led HR to keep organizations future ready. With forecasted spikes in workforce, every organization must gear up with only the best HR tech trends, which enable quicker decision making, accurate predictions and equip professionals with the necessary tools to meet specific needs and goals. It’s time to talk about the best HR practices and unveil what’s next – #SHRMTech18. Read more

Accudyne Industries Selects LTI as its IT Infrastructure & Security Management Partner

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

Larsen & Toubro Infotech Ltd. (NSE: LTI, BSE: 540005), a global technology consulting and digital solutions company has been selected by Accudyne Industries, LLC (Accudyne Industries) as the transformation partner to provide IT Infrastructure & Security Management Services.  Accudyne Industries is a leading global provider of precision engineered, process-critical and technologically advanced flow control systems and industrial compressors.

Accudyne’s businesses support complex, large-scale installations within oil and gas, energy, petrochemical, chemical, industrial manufacturing, construction, mining, and water and wastewater treatment industries. Accudyne chose LTI as its consulting and IT services partner to enhance end-user experience while attaining  flexibility and scalability across its business landscape. LTI will provide services leveraging an intelligent, global, managed services engagement model supported by a command and security operations center. Read more

Reliance Industries Limited to acquire stake in Eros International PLC

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

Reliance Industries Limited (“RIL”) and Eros International PLC (“Eros”) announced today that RIL, through a subsidiary, has agreed to subscribe to a 5%  equity stake in NYSE listed Eros at a price of USD15 per share, which represents an 18% premium to last closing price. The transaction is subject to customary regulatory and other approvals.

 

Furthermore, RIL and Eros International Media Limited (“Eros India”) announced that they have agreed to partner in India to jointly produce and consolidate content from across India. The parties will equally invest up to INR 1,000 crores in aggregate (approximately USD150 million) to produce and acquire Indian films and digital originals across all languages.

In addition, it was announced that Ms. Jyoti Deshpande, Group CEO and MD of Eros will be stepping down from her Executive role after more than 17 years in Eros and move on to head the Media and Entertainment business at RIL as President of the Chairman’s Office. Ms. Deshpande will start her role at RIL from April 2018, but will continue to remain as a Non-Executive Director on the Board of Eros. Mr. Kishore Lulla will resume his position of Group Chairman and CEO of Eros. Read more

Solar Industries India Ltd. Q3FY18 Revenue up by 10.48% to Rs. 465.68cr

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

Solar Industries India Ltd., the country’s largest manufacturer and exporter of commercial explosives and explosives initiating systems, declared its financial results for the quarter ended December 31, 2017. Highlights of the unaudited results (The sales for the reported quarter are “Net of GST”.)

 

Highlights of Q3 FY17-18 performance

  • Net Sales stood at Rs. 465.68 crore as compared with Rs. 421.51 crore in Q3FY17 registering a growth of 10.48% YoY.

  • The EBITDA in Q3FY18 is at Rs. 106.93 crore up by 31.22% YoY in comparison to Rs. 81.49 crore in the same period last year.

  • PBT stood at Rs. 82.58 crore in Q3FY18 from Rs. 65.25 crore in Q3FY17, up by 26.56%.

  • Net profit after minority interest rose by 13.83% YoY at Rs. 54.15 crore for Q3FY18 up from Rs. 47.57 crore in Q3FY17.

  • EBIDTA % stands at 22.96% as compared with 19.33% in Q3FY17.

  • PBT % stands at 17.73 % in Q3FY18 as compared with 15.48% in Q3FY17.

  • Net profit % stands at 11.42% compared with 11.27% in Q3FY17.

  • Order book stands at Rs. 1306 crore.

 

Highlights of 9M FY17-18 performance

  • Net sales increased by 17.83% YoY to Rs. 1340.78 crore in 9MFY18 from Rs. 1137.89 crore of 9MFY17.

  • EBITDA rose by 25.30% YoY to Rs. 301.75 crore in 9MFY18 from Rs. 240.82 crore in 9MFY17.

  • PBT rose to Rs.238.42 crore in 9MFY18 when compared with Rs. 191.53 crore in 9MFY17, a growth of 24.48% YoY.

  • Net profit after minority interest jumped by 17.52% to Rs. 154.67 crore for 9MFY18 from Rs. 131.61 crore in 9MFY17.

  • EBIDTA % stands at 22.51% in 9MFY18 as compared with 21.16% in 9MFY17.

  • PBT % stands at 17.78% in 9MFY18 as compared with 16.83% in 9MFY17.

  • Net profit % stands at 11.54% in 9MFY18 as compared with 11.57% in 9MFY17.

  • Capital Expenditure till 9MFY18 is Rs. 130.64 crore. Read more