CHAPTER-4 PROFILE OF SELECTED COMPANIES IN...
Transcript of CHAPTER-4 PROFILE OF SELECTED COMPANIES IN...
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CHAPTER-4
PROFILE OF SELECTED COMPANIES IN INDIA
The Company Profiles are arranged according to N I C Classification and the
number adjacent to the name of the company indicates the serial number of the
company including multiple buy-backs as indicated in Table 1.
4.1 Agriculture, Forestry and Fishing
4.1.1 Gujarat Ambuja Exports Ltd (50)
Gujarat Ambuja Exports Ltd. promoted by Mr. Vijay Kumar Gupta was
incorporated in Ahmedabad in the State of Gujarat, on 21st August 1991.
The immediate object of the company is to manufacture agricultural food
products and exports them to various countries. The company deals in various
segments such as cotton Yarn, solvent extraction, edible oil refinery, vanaspati
ghee, maize processing flour mill, cattle feed and wind mill.
The authorized share capital was `7.5 crores and the paid up share capital was
`7.25 crores in the year 1992. The company declared a split in face value of
share from `10 to `2 per share. It issued rights shares in the ratio of 1:4 on 9th
February 1999.
It bought back 9,66,615 equity shares during 16th April 2007 to 15th January
2008 at an average share price of `34.26 per share amounting to `3.31 crores
and reduced the share capital to `27.67 crores after buy-back. The paid up
equity share capital was `27.67 crores and reported net profit was `60.02
crores for the year ending 2010.
4.2 Mining And Quarrying
4.2.1 Selan Exploration Technologies Ltd. (1, 4, 20, 34)
Selan Exploration Technology Limited was incorporated in the Union Territory
of Delhi as private limited company. It became public limited company with
effect from 15th October 1990.
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The company is presently undertaking seismic data acquisition work for Oil &
Natural Gas Commission (ONGC) in Cauvery Basin in South India and is
concerned with 3D seismic data acquisition, processing and interpretation
(API) activity in Bakrol and Indrora oilfields.
The authorized share capital was `19 crores and the paid up share capital was
`7.84 crores in the year 1993. The company declared bonus shares on
22nd November 2010 in the ratio of 1:10.
It bought back 7,12,750 equity shares during 8th March 2000 to 25th September
2000; 14,93,200 equity shares during 3rd April 2001 to 22nd November 2001;
10,49,950 equity shares during 8th April 2002 to 29th January 2003 and
8,28,030 equity shares during 17th May 2003 to 21st May 2004 at an average
share price of `10.99, `11.65, `10.72 and `15.98 per share amounting to `0.78
crores, `1.74 crores `1.112 crores, `1.323 crores respectively and reduced the
share capital to `16.73 crores, `15.3 crores, `14.25 crores and `13.422 crores
respectively after buy-backs. The paid up equity share capital was `15.44
crores and reported net profit was `28.80 crores for the year ending 2010.
4.3 Manufacturing
4.3.1 Packaged Foods, Foods Processing
4.3.1.1 Britannia Industries Ltd (11, 24, 40)
The Company was incorporated on 21st March 1918, as a public limited
company under the Indian Companies Act, VII of 1913. With effect from 3rd
October 1979, the name of the Company was changed from the Britannia
Biscuit Co., Ltd., to Britannia Industries Ltd. The main business of the
company includes manufacture of bakery and soyabean products, export of
cashew kernels and general merchandise items.
The authorized share capital was `20 crores and the paid up share capital was
`12.38 crores in the year 1988. The company declared bonus shares on
26th July 1983, 7th October 1987, 7th October 1990 and 26th May 1999 in the
ratio of 2:5, 2:5, 1:2, and 1:2 respectively and also effected a split in face value
of share from `10 to `2 on 27th May 2010.
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It bought back 10,00,000 equity shares during 9th October 2001to
28th November 2001, 17,38,400 equity shares during 5th September 2002 to
3rd June 2003 and 12,21,887 equity shares from the open market at an average
share price of `533.15, `529.13, and `636.81 per share, amounting to `53.32
crores, `91.984 crores and `77.81 crores respectively and reduced the share
capital to `26.85 crores, `25.112 crores and `23.89 crores respectively after
buy-back. The paid up equity share capital was `23.89 crores and reported net
profit was `116.51 crores for the year ending 2010.
4.3.1.2 Heritage Food (India) Ltd (16)
The company was promoted by N. Chandrababu Naidu and Associates and was
incorporated on 5th June 1992 as Public Limited in Hyderabad, Andhra
Pradesh. The main object of the Company is to manufacture process and deal in
milk and various milk products.
The authorized share capital was `5 crores and the paid up share capital was
`0.81 crores in the year 1993. It bought back 8,10,000 equity shares during
24th January 2002 to 1st April 2002 at an average share price of `27.62 per
share amounting to `2.24 crores and reduced the share capital to `9.99 crores
after buy-back. The paid up equity share capital was `11.53 crores and reported
net profit was `5.72 crores for the year ending 2010.
4.3.1.3 Venky’s (India) Ltd (25)
The company was incorporated in Pune, Maharashtra on 1st July 1976 as a
Private Ltd. Company and was converted into a Public Ltd. Company
- Western Hatcheries Ltd on 12th December 1988. The name was changed to
Venky’s (India) Ltd on 21st June 2000.
The company is a part of the Venkateshwara Hatcheries (VH) Group of
companies, pioneers in the field of poultry farming and is engaged in poultry
breeding and farming and also in the manufacture of animal health products
and S.P.F. eggs (Specific Pathogen Free Eggs) used in the manufacture of
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human, animal and poultry vaccines. It has a technical collaboration with
SOAFAS INC. USA.
The authorized share capital was `3.5 crores and the paid up share capital was
`1.38 crores in the year 1988. The company declared bonus shares on
13th August 1989 and 29th May 2001 in the ratio of 2:1 and 1:3 respectively. It
bought back 8,74,992 equity shares during 19th September 2002 to 11th June
2003 at an average share price of `50.61 per share amounting to Rs4.43 crores
and reduced the share capital to `9.4 crores after buy-back. The paid up equity
share capital was `9.4 crores and reported net profit was `54.32 crores for the
year ending 2010.
4.3.2 Beverages
4.3.2.1 Jayshree Tea and Industries Ltd (6)
The company was promoted by the Birla Group and incorporated at Calcutta in
1945 as Jay Shree Tea Gardens Ltd., which was renamed as Jay Shree Tea and
Industries Ltd. It is a part of well diversified conglomerate of B.K. Birla Group.
This company carries on the business of tea plantations purchase and sales of
tea within India, as well as export of teas, warehousemen for sorting tea,
manufacture of all types of decorators plywood, blackboard, flush doors
plywood packing cases of all types known as timber packing, products and
manufacture of chemicals single super phosphate and sulphuric acid and
fertilisers. The company also owns tea warehouse in Calcutta for storing teas,
two plywood factories viz. Woodcrafts Assam in Mariani and Jayshree Timber
products in Bakultala and a factory for manufacturing chemicals and fertilisers
in Khardah. It recently made a foray into sugar industry and is also engaged in
real estate business having developed several properties at Kolkota and
Begaluru.
The authorized share capital was `0.75 crores and the paid up share capital was
`0.39 crores in the year 1949. The company declared bonus shares on
26th August 1969, 26th August 1974, 26th August 1977, 26th August 1981,
26th August 1986 and 7th July 1998 in the ratio of 1:4, 1:3, 1:4, 1:2, 1:2, and 1:1
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respectively. It bought back 4,02,034 equity shares during 4th June 2001 to 30th
March 2002 at an average share price of `51.20 per share amounting to `2.6
crores and reduced the share capital to `10.67 crores after buy-back. The paid
up equity share capital was `11.17 crores and reported net profit was `61.70
crores for the year ending 2010.
4.3.3 Sugar
4.3.3.1 E.I.D. Parry ( India) Ltd (70)
The Company was incorporated on 22nd September 1975 and it joined the
Murugappa Group in 1981.
The main business of the company includes the manufacture and sale of sugar,
spirit, carbonic acid gas, ceramics, chemicals, fertiliser mixtures, complex
fertilisers, plant protection products, animal feeds, processed seeds, distribution
of fertilisers, consumer and engineering products, assembling of generating
sets, export of marine and other products, etc.
The authorized share capital was `6.28 crores and the paid up share capital was
`6.28 crores in the year 1975. The company declared a split in face value of
share from `10 to `2 on 21st March 2005 and from `2 to `1 on 25th October
2010. It issued rights shares in the ratio of 1:2 on 30th October 1993.
It bought back 27,78,540 equity shares during 15th December 2008 to
9th February 2009 at an average share price of `141.18 per share amounting to
`44.26 crores and reduced the share capital to `17.22 crores after buy-back.
The paid up equity share capital was `17.27 crores and reported net profit was
`205.28 crores for the year ending 2010.
4.3.4 Textiles
4.3.4.1 Raymonds Ltd (3)
The Company was incorporated on 10th September, 1925 at Mumbai. At
present the registered office of the company is at Ratnagiri Maharashtra and the
house name is Singhania (KS) Group, It manufactures woollen and worsted and
hosiery yarns, knitting wool, engineers' steel files and cement.
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The authorized share capital was `0.5 crores and the paid up share capital was
`0.5 crores in the year 1925 which gradually increased to Rs 100 crores and
`75.96 crores in 1999. The company declared bonus shares on 3rd September
1988 and 4th February 1996 in the ratio of 1:1 and 1:2 respectively. It issued
rights shares in the ratio of 3:11 and 1:1 on 30th September 1993 and
11th February 1996.
It bought back 1,37,10,083 equity shares during 7th March 2001 to 27th April
2001 at an average share price of `186.94 per share amounting to `186.252
crores and reduced the share capital to `61.38 crores after buy-back. The paid
up equity share capital was `61.38 crores and reported net profit was `26.37
crores for the year ending 2010.
4.3.4.2 Winsome Yarns Ltd (8,21)
The Company was incorporated on 19th July 1990 at Jalandhar. The main
business of the company is to manufacture yarns and knitwear.
The authorized share capital was `0.5 crores and the paid up share capital was
`0.01 crores in the year 1991. The company declared a split in face value of
share from `10 to `1 per share on 30th July 2009.
It bought back 4,11,605 equity shares during 20th August 2001 to 1st October
2001 and 8,33 ,016 equity shares during 2nd May 2002 to 21st August 2002 at
an average share price of `7.01 per share and `8.25 per share amounting to
`2.89 crores and `6.87 crores respectively and reduced the share capital to
`26.499 crores and `25.666 crores respectively after buy-back. The paid up
equity share capital was ` crores and reported net loss was `12.07 crores for
the year ending 2010.
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4.3.4.3 Bombay Dyeing And Manufacturing Co. Ltd (10, 27)
The company was incorporated on 23rd August 1879, at Mumbai by
Nowrosjee Wadia in 1879 with an initial capital of `0.1 crores as a small
operation of Indian spun cotton yarn dip dyed by hand.
Now, it manufactures cotton textile goods and non-woven fabrics. The textile
products are sold under the trade name TEXSPRING, SPRINGTEX, etc.
Operations other than spinning and weaving undertaken are bleaching, dyeing,
printing, mercerising, sanforising, tebilizing, Hecowa and other finishings.
The authorized share capital was `2.56 crores and the paid up share capital was
`2.51 crores in the year 1957 which gradually increased to `41 crores in 1999.
The company declared bonus shares six times - on 17th June 1967, 17th June
1974, 17th June 1976, 17th June 1980, 17th June 1987 and 7th October 1990 in
the ratio of 1:5, 1:5, 1:5, 1:1, 1:1 and 1:1 respectively. It issued rights shares in
the ratio of 1:5 on 30th September 1993.
It bought back 18,26,954 equity shares during 9th September 2001 to 23rd July
2002 and 7,18,305 equity share during 6th November 2002 to 29th August 2003
at an average share price of `40.7 per share and `46.54 per share, amounting to
`74.36 crores and ` 33.43 respectively, and reduced the share capital to
`39.175 crores and `38.457 crores after respective buy-back. The paid up
equity share capital was `38.62 crores and reported net profit was `18.42
crores for the year ending 2010.
4.3.4.4 Reliance Industries Ltd (41)
On 11th February 1966, Reliance Textiles Industries Pvt Ltd was incorporated
in Maharashtra. It established a synthetic fabrics mill in the same year at
Naroda in Gujarat. On 1st July 1975, Reliance Textile Industries Ltd was
amalgamated with Mynylon Ltd. With effect from 11th March 1977 the name
of Mynylon Ltd was changed to Reliance Textiles Industries Ltd.
The company manufactures synthetic blended yarns and fabrics polyester
filament yarn polyester staple fibre chemicals and allied products, colour TV
glass shells and colour TV picture tubes. The Company's yarns are marketed
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under various brand names such as Texalit, Textron, Texlene, Poly dyed and
polytwist. The company's fabrics are marketed under the brand name VIMAL.
The authorized share capital was `8 crores and the paid up share capital was
`5.95 crores in the year 1975. The company declared bonus shares on 28th
October 1983, 13th September 1997, and 7th October 2009 in the ratio of 3:, 1:1,
and 1:1. It issued rights shares in the ratio of 1:20 on 30th September 1991.
It bought back 28,69,495 equity shares during 10th January 2005 to 5th August
2005 at an average share price of `521.38 per share amounting to Rs149.61
crores and reduced the share capital to `1396.51 crores after buy-back. The
paid up equity share capital was `3270.37 crores and reported net profit was
`16235.67 crores for the year ending 2010.
4.3.4.5 SRF Ltd (47, 61)
The Company was promoted by Cloth and General Mills Company Limited,
(DCM) and was incorporated on 9th January1970 at New Delhi as Shri Ram
Fabrics Ltd to manufacture nylon tyre cord fibres. It was changed to SRF
Limited with effect from 2nd May 1980.
Though it started with the manufacture of nylon tyre cord fibres, SRF is a
multi-business entity engaged in the manufacture of chemical based industrial
intermediates. Today, its business portfolio covers technical textiles as tyre
cord, belting fabrics, coated fabrics, industrial tarn and laminated fabrics
chemicals as fluorochemicals and fluoro specialties, packaging films and
engineering plastics, shipping and leasing.
The authorized share capital was `4.5 crores and the paid up share capital was
`2.8 crores in the year 1973. The company declared bonus shares on
25th August 1983 in the ratio of 1:2. It issued rights shares in the ratio of 1:2,
1:10, 2:5, 3:5, 3:5, and 1:60 on 28th January 1994, 28th September 1994,
12th December 1995, 3rd January 1997,13th March 1997 and 15th January 1998
respectively.
It bought back 16,084 equity shares during 3rd July 2006 to 26th September
2006 and 73,81,425 equity shares during 2nd July 2008 to 20th April 2009 at an
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average share price of `197.20 and `94.82 per share amounting to `31.25
crores and `70 crores respectively and reduced the share capital to `64.51
crores `60.5 crores respectively after buy-back. The paid up equity share
capital was `60.5 crores and reported net profit was `309.42 crores for the year
ending 2010.
4.3.5 Plastics
4.3.5.1 Finolex Industries Ltd (5, 22)
The company was incorporated on 28th March, in Maharashtra as a private
limited company and was converted into a public limited company on
1st December, 1988. It was promoted by P.P. Chhabria and his Associates. The
company acquired a manufacturing plant at MIDC Chinchwad, Pune and
started commercial production of PVC pipes in May 1981. It manufactures
PVC Pipes and fittings and PVC resins.
The initial authorized share capital was `0.2 crores and the paid up share
capital was `0.2 crores in the year 1981. The company declared bonus shares
on 6th May 1989 in the ratio of 4:1 .It issued rights shares in the ratio of 1:2 at a
premium of `30 per share on 30th September 1992. It bought back 1,99,78,977
equity shares during 26th April 2001 to 2nd April 2002 and 52,00,347 equity
shares during 19th August 2002 to 26th July 2003 at an average share price of
`27.73 and `34.24 per share amounting to `55.41 crores and `17.81 crores
respectively after buy-back, thereby reducing the share capital to `129.22
crores and `124.18 crores respectively after buy-back. The paid up equity share
capital was `124.03 crores and reported net profit was `132.32 crores for the
year ending 2010.
4.3.5.2 Supreme Industries Ltd (69)
The Company was promoted by R Thaparia Group and was incorporated in
1942 at Mumbai with an authorized capital of `0.06 crores and a paid up
capital of `0.03 crores. The Company manufactures industrial and engineering
moulded products, storage and material handling crates, multilayer sheets,
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multilayer films, packaging films, expanded polyethylene foam, PVC pipes and
fittings, moulded furniture, sataranj mats, disposable EPS containers, etc.
The authorized share capital was `30 crores and the paid up share capital was
`27.62 crores in the year 2008. The company declared bonus shares on
29th April 1981, 29th April 1986, 29th April 1988 30th July 1992 and 1st August
2006 in the ratio of 2:5, 4:5, 1:1, 1:1 and 1:1and also announced a split in face
value of share from `10 to `2 on 16th July 2010 .It issued rights shares in the
ratio of 1:8 at a premium of `190 per share on 28th February 1993.
It bought back 22,16,300 equity shares during 8th December 2008 to
9th February 2009 at an average share price of `110.86 per share amounting to
`24.58 crores and reduced the share capital to `25.41 crores after buy-back.
The paid up equity share capital was `25.41 crores and reported net profit was
`144.83 crores for the year ending 2010.
4.3.6 Personal Products
4.3.6.1 Godrej Consumer Products Ltd. (15, 23, 29, 36, 37, 43, 68)
Godrej Consumer Products Ltd. was established in 1897, by Ardeshir Godrej,
and his brother Pirojsha Godrej- Godrej Group. On 31st March 2001 the
consumer products division got de-merged into Godrej Consumer Products,
and the residual Godrej Soaps became Godrej Industries. This led to the
formation of two separate corporate entities: Godrej Consumer Products and
Godrej Industries. Godrej Consumer Biz Ltd. (GCBL) and Godrej Hygiene
Care Ltd. (GHCL) were amalgamated with Godrej Consumer Products Ltd.
(GCPL) on 15th October 2009.
Today, Godrej Consumer Products (GCPL) is a leader among India’s Fast
Moving Consumer Goods (FMCG) companies, with leading Household and
Personal Care Products as soaps, hair colour, detergents and fatty acids.
The authorized share capital was `25 crores and the paid up share capital was
`23.64 crores in the year 2001. The company announced a Stock split on
26th April 2006 thereby reducing the face value of share from `4 to `1. It also
implemented a rights issue on 23rd November2007 in the ratio of 1:7 at a
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premium of `122/-per share thereby, increasing the share capital to `25.81
crores.
It bought back equity shares seven times during 21st January 2002 to 4th June
2002, 12th August 2002 to 30th September 2002, 24th January 2003 to
17th September 2003, 30th October 2003 to 31st March 2004, 4th May 2004 to
15th October 2004, 23rd May2005 to 7th July 2005 and 4th December 2008 to
4th March 2009. The number of shares bought back were 14,64,593, equity
shares, 4,11,962, equity shares, 8,76,133 equity shares, 2,26,758, equity shares,
2,45,042, equity shares 1,43,448, equity shares and 11,22,484 equity shares
respectively, at an average share price of `17.77, `110.94, `113.68, `161.41,
`197.92 and `132.74 per share, amounting to `2.602 crores, `4.57 crores,
`9.96 crores, `3.66 crores, `4.85 crores and `14.90 crores respectively and
reduced the share capital to `23.35 crores, `23.18 crores, `22.83 crores, `22.74
crores, `22.64 crores, `22.58 crores and `22.472 crores after respective
buy-backs. Though the company has implemented seven buy-back
programmes, the percentage of shares bought back was not more than 2% of
the total equity shares of the company at each buy-back. The paid up equity
share capital was `30.82 crores and reported net profit was `248.12 crores for
the year ending 2010.
4.3.6.2 Hindustan Unilever Ltd (54)
Lever Brothers India Limited (LBIL) was incorporated in 1933 at Kolkata
West Bengal in India to manufacture soaps. On 27th October 1956, the Co. was
converted into a Public Ltd. Co. On 1st November 1956, Hindustan Vanaspati
Mfg. Co. Pvt. Ltd., William Gossage & Sons (India) Pvt. Ltd. and Joseph
Crosfield & Sons Unilever Ltd. were amalgamated with LBIL and the name
was changed to Hindustan Lever Ltd which was again changed to Hindustan
Unilever Ltd on 10th July 2007.
The company manufactures various personal products as detergents, synthetic
soaps, tea, coffee, canned and processed fruits and vegetable products, branded
staple food, processed hydrogenated oils/ vanaspati, glycerine etc.
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The authorized share capital was `214.75 crores and the paid up share capital
was `214.75 crores in the year 1999. The company declared bonus shares four
times on 22nd June 1979, 22nd June 1983, 22nd June 1987 and 30th September
1991 in the ratio of 1:3, 3:5, 1:1 and 1:2 respectively and a split in face value of
share from `10 to `1 on 5th July 2000. It bought back 3,02,35,772 equity shares
during 3rd October 2007 to 1st February 2008 at an average share price of `207
per share amounting to `626.27 crores and reduced the share capital to `217.75
crores after buy-back. The paid up equity share capital was `218.17 crores and
reported net profit was `2202.03 crores for the year ending 2010.
4.3.7 Commodity Chemicals
4.3.7.1 Jindal Poly Films Ltd (74)
The company was incorporated on 9th September 1974 as Hindustan Pipe
Udyog Limited and was promoted by the Jindal group of Company. In 1985,
the name was changed to Jindal Polyester and Steel Ltd. which was again
changed to Jindal Polyester Ltd. effective from 17th January 1995. India
Polyfilms Ltd and Patel Polyproducts Ltd were amalgamated with the company
in 1999.The company was renamed as Jindal Poly Films Ltd on
8th March 2005. The company started with the manufacturing of ERW steel
pipes and tubes, black and galvanised, at Jindal Nagar, District Ghaziabad, U.P.
In 1985 the company diversified its activities by setting up a unit for the
manufacture of polypropylene filament yarn and polyester filament yarn at
Gulaothi, U.P and high value addition solid state polycondensation chips (SSS)
i.e. bottle grade, mono-filament grade and film grade polyester polymer chips
suitable for PET bottles as mono filament yarn.
The authorized share capital was `2.94 crores and the paid up share capital was
`2.31 crores in the year 1991 which was gradually raised to `28.1 crores in
2006. The company declared bonus shares on 13th February 1996 and
3rd September 2010 in the ratio of 1:1 and 1:1 respectively. It issued rights
shares in the ratio of 1:1 and 2:1 on 18th April 1995 and 18th July 1995, thereby,
raising the equity share capital from `6.17 crores to ` 12.34 crores. It bought
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back 32,34,492 equity shares during 22nd December 2008 to 5th May 2009 at an
average share price of `270.17 per share amounting to `87.39 crores and
reduced the share capital to `23.02 crores after buy-back. The paid up equity
share capital was `23.02 crores and reported net profit was `208.38 crores for
the year ending 2010.
4.3.7.2 Godrej Industries Ltd (82)
The Godrej Soaps Ltd. was incorporated on 7th March 1988, and was promoted
by the Godrej Group (the major companies in the group being Godrej Soaps
Ltd. and Godrej & Boyce Mfg. Co. Ltd.) along with Gujarat Industrial
Investment Corporation Ltd. (GIIC) in the associate sector. The company was
called Godrej Soaps until 31st March 2001. Thereafter, the consumer products
division got de-merged into Godrej Consumer Products, and the residual
Godrej Soaps became Godrej Industries. This led to the formation of two
separate corporate entities: Godrej Consumer Products and Godrej Industries.
The Company manufactures alpha olefins and related products. Godrej
Industries is India's leading manufacturer of oleochemicals and makes more
than a hundred chemicals for use in over two dozen industries. It also
manufactures edible oils, vanaspati and bakery fats. Besides, it operates in real
estate.
The authorized share capital was `6.5 crores and the paid up share capital was
`4.32 crores in the year 1990 which was gradually raised to `31.98 in the year
2007. The company declared bonus shares on 29th April 1992 and 26th July
1995 in the ratio of 5:1 and 1:2 respectively and a split in face value of share
from `10 to `6 in the year 2005 and `6 to ` 1 in the year 2006. It issued rights
shares in the ratio of 3:4 on 3rd October 1999. It bought back 21,33,710 equity
shares during 25th May 2009 to 24th July 2009 at an average share price of
`135.30 per share amounting to `28.87 crores and reduced the share capital to
`31.76 crores after buy-back. The paid up equity share capital was `31.76
crores and reported net profit was `80.93 crores for the year ending 2010.
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4.3.8 Industrial Gases
4.3.8.1 Gujarat Fluorochemicals Ltd (64)
The Company was incorporated on 4th February 1987. at Ahmedabad in
Gujarat and was promoted jointly by Industrial Oxygen Co. Ltd. along with its
subsidiary, a part of the Siddho Mal Group and Gujarat Industrial Investment
Corporation, Ltd. (GIIC). The company has entered into technical
collaborations with various MNCs for technology transfer.
The main business of the company is to manufacture carbonate gases,
refrigerants chloromethanes, caustic soda, post treated polytetra fluoraethylene,
and by-products as anhydrous hydrochloric acid, liquid chlorine, and power.
The company has identified the entertainment industry as a key diversification
area, and is considering setting up a national chain of multiplexes.
The authorized share capital was `12 crores and the paid up share capital was
`8.59 crores in the year 1987. The company declared a split in face value of
share from `10 to `2 on 30th July 2005 and from `2 to `1 per share on
19th December 2007. It bought back 59,30,000 equity shares during 21st August
2008 to 24th March 2009 at an average share price of `103.48 per share
amounting to `61.36 crores and reduced the share capital to `10.99 crores after
buy-back. The paid up equity share capital was `10.99 crores and reported net
profit was `334.15 crores for the year ending 2010.
4.3.9 Paints and Varnishes
4.3.9.1 ICI India Ltd (53)
The Company was incorporated as a public limited company in Kolkota West
Bengal on 19th August 1954 to manufacture explosives and accessories of all
kinds, blasting equipment, chemicals and fertilisers. The name of the Company
was changed from Indian Explosives Ltd., to IEL Ltd. Effective from 25th May
1989 the name was again changed to ICI India Ltd on 25th May 1989 and on
27th May 2010 the name of the company was changed to Akzo Nobel India Ltd.
It manufactures and markets paints, thinners, specialty chemicals and starch.
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The authorized share capital was `30 crores and the paid up share capital was
`28.98 crores in the year 1978. The company declared bonus shares on
3rd August 1966 and 3rd August 1978 in the ratio of 2:5 and 1:3 respectively. It
bought back 26,50,943 equity shares during 2nd August 2007 to 11th July 2008
at an average share price of `524.32 per share amounting to `131.8 crores and
reduced the share capital to `38.22 crores after buy-back. The paid up equity
share capital was Rs36.83 crores and reported net profit was `159.30 crores for
the year ending 2010.
4.3.10 Pharmaceuticals
4.3.10.1 Sun Pharmaceuticals Ltd (28)
The Company was incorporated as a partnership firm by Dilip Sanghvi and his
family to manufacture pharmaceutical formulation at Vapi, Gujarat in 1983. It
was converted into a Public Ltd. company effective 1st March 1983.
The Company specialises in the manufacture of selected therapeutic segment to
psychiatry, cardiology, neurology and gastroenterology, gynaecology, fertility,
oncology, pain managers and duaesthelics. diabetology and opthalmology etc.
The authorized share capital was `15 crores and the paid up share capital was
`14.8 crores in the year 1995. The company declared bonus shares on
9th February 2000 and 21st April 2004 in the ratio of 2:1 and 1:1 respectively
and a split in face value of share from `10 to `5 on 28th October 2002 and `5 to
`1 on 24th September 2010.
It bought back 8,32,938 equity shares during 7th January 2003 to 6th October
2003 at an average share price of `274.71 per share amounting to `22.88 crores
and reduced the share capital to `46.38 crores after buy-back. The paid up
equity share capital was `103.56 crores and reported net profit was `898.65
crores for the year ending 2010.
4.3.10.2 DIL Ltd (42)
DIL was promoted by Solvay Pharmaceuticals based in Brussels and
Mr. D. Vasant Kumar and family in India. It was incorporated on 1st May 1951,
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in Thane, Maharashtra, as International Franchise Pvt. The Company became a
public limited company with effect from 9th April, 1963 and simultaneously its
name was changed to Crookes Interfran Ltd. The name of the Company was
changed to Duphar-Interfran Ltd in 1971 which was again changed to DIL on
18th February 2004.
The Company manufactures drugs and pharmaceuticals, chemicals, cosmetics
and toiletries. It started its activities with the manufacture of a brand of tooth
paste and antiseptic lotion and extended them to the manufacture of
pharmaceutical specialties.
The authorized share capital was `2 crores and the paid up share capital was
`1.84 crores in the year 1988. The company declared bonus shares on
11th September 1984 and 11th September 1988 in the ratio of 1:2 and 1:3
respectively. It issued rights shares in the ratio of 1:6 on 24th March 1995.
It bought back 2,31,605 equity shares 13th April 2005 during to 18th August
2005 at an average share price of `246.87 per share amounting to `5.72 crores
and reduced the share capital to `2.29 crores after buy-back. The paid up equity
share capital was `2.29 crores and reported net profit was `7.65 crores for the
year ending 2010.
4.3.10.3 Glaxo Smithkline Pharmaceuticals Ltd (44)
The Company was incorporated in India on 13th November 1924 under the
name of H.J. Foster & Co. Limited as an Agency House for distributing the
well-known Baby Food Glaxo of the then U.K. Company, Joseph Nathan &
Co. Two years later, the company became a wholly-owned subsidiary of
Joseph Nathan & Co. On 1st March 1950, the company changed its name to
Glaxo Laboratories (I) Ltd. During the year 1968 Glaxo group limited acquired
the whole capital of BDH Group Ltd. and with effect from 1st July 1968, it
became Public Limited Company and its name was changed to Glaxo
Laboratories (India) Ltd. In 1984-85, the company acquired the entire
shareholding of Glindia Investments Ltd., Sesame Investments Pvt. Ltd. and
Samgir Investments Pvt. Ltd., which thereby became subsidiaries of the
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company. The name of the company was changed to Glindia Limited with
effect from 11th March 1989 which was again changed to Glaxo India Limited
with effect from 17th July 1989. In October 2001, Smithkline Beecham
Pharmaceutical (India) Ltd was merged with Glaxo India Ltd to become
GlaxoSmithKline Pharmaceuticals Ltd.
The company specialises in the manufacture, distribution, sale and export of
medicinal, chemical, biological, immunological, veterinary and other
therapeutic preparations, food for infants and invalids, dietetic foods, cereals
and foodstuffs of all descriptions, all classes and kinds of chemicals, cosmetics
and diary, farm and garden produce. The drugs manufactured by the company
include anti infective, anti inflammatory, anti parasitic, cardiovascular,
dermatology, diabetes, endocrine, gastro intestinal, gynecology, immune
suppressants, nutritionals, respiratory, CNS oncology and vaccines.
The authorized share capital was `3 crores and the paid up share capital was `3
crores in the year 1967 which was gradually raised to `90 crores and `87.32 in
2004. The company declared bonus shares on 23rd June 1980 and
28th September 1995 in the ratio of 1:3 and 1:1 respectively. It issued rights
shares in the ratio of 1:5 at a premium of `55 per share of face value `10 on
30th September 1993. It bought back 26,19,529 equity shares during 9th May
2005 to 22nd December 2005 at an average share price of `795.90 per share
amounting to `208.49 crores and reduced the share capital to `84.7 crores after
buy-back. The paid up equity share capital was `84.70 crores and reported net
profit was `563.69 crores for the year ending 2010.
4.3.10.4 Natco Pharma Ltd (48)
The company was incorporated on 19th September, 1981 near Hyderabad in
Andhra Pradesh as a Private Ltd. Company as Natco Fine Pharmaceuticals
(Private) Ltd and became a deemed Public Company with effect from 1st July,
1992 under Section 43A of the Act. Subsequently, it changed its name to Natco
Pharma Ltd. on 18th February, 1993.
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The Company began operations in 1984 with an objective to manufacture
conventional and timed release dosage forms of life savings drugs. It
manufactures a wide range of tablets, capsules, liquids and dry powders using
automated equipments. It also introduced Indigenisation of Microdialysis Cell
technology for various dosage forms as antihistaminic, antianxiety,
antiasthmatic, anti-migraine, oral contraceptive, oncological products-anti-
cancer wonder drug, and cardiac drugs into Indian market.
The authorized share capital was `10 crores and the paid up share capital was
`7.15 crores in the year 1994. It bought back 4,92,881 equity shares during
24th November 2008 to 5th August 2009 at an average share price of `140.36
per share amounting to `6.99 crores and reduced the share capital to `27.144
crores after buy-back. The paid up equity share capital was `28.15 crores and
reported net profit was `47.66 crores for the year ending 2010.
4.3.10.5 FDC LTD (78)
The Company was promoted as a partnership firm by late Mr Anand
Chandavarakar in 1936 and later incorporated as Fairdeal Corporation Private
Limited Company on 23rd September 1940. Its name was changed to FDC Pvt.
Ltd on 24th June 1985 and was converted to public limited company in 1988.
The company manufactures various therapeutic medicines such as
anti-invectives, dermatologicals, respiratory, haematinics, ophthalmics
soya-based infant foods, surgical goods and ORS and ophthalmics.
The authorized share capital was `15 crores and the paid up share capital was
`10.06 crores in the year 1996. The company declared bonus shares on
24th February 2004 in the ratio of 1:1 and a split in face value of share from `10
to `1 per share on 2nd June 2001. It bought back 51,82,573 equity shares during
24th November 2008 to 3rd August 2009 at an average share price of `34.31 per
share amounting to `17.78 crores and reduced the share capital to `18.71 crores
after buy-back. The paid up equity share capital was `18.63 crores and reported
net profit was `148.82 crores for the year ending 2010.
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4.3.11 Iron and Steel and Intermediate Products
4.3.11.1 Monnet Ispat Ltd (77)
Monnet Ispat Ltd. (MIL) was promoted jointly by Mr. Sandeep Jajodia and
Jindal Strips Limited and incorporated on 1st February 1990 in the State of
West Bengal and subsequently the registered office of the Company was
shifted from Calcutta in the State of West Bengal to Union Territory of Delhi
on 13th January 1993.
The main business of the company is to manufacture sponge iron, structural
sheets, billets and ingots, iron ore coal and ash/char at village Kurud, District
Raipur, Madhya Pradesh. Recently in 2006, after merger with Monnet Power,
it has diversified and started the production of power.
The authorized share capital was `6 crores and the paid up share capital was
`0.04 crores in the year 1991 which was raised to `49.25 crores in the year
2007. It bought back 12,86,259 equity shares during 8th December 2008 to
22nd May 2009 at an average share price of `141.25 per share amounting to
`18.203 crores and reduced the share capital to `47.96 crores after buy-back.
However, during the year 2009-2010 the company converted 43,00,000
warrants into equity thereby raised the equity share capital to `52.26 crores.
The paid up equity share capital was `52.26 crores and reported net profit was
`269.10 crores for the year end
4.3.12 Consumer Electronics
4.3.12.1 Blue Star Ltd (19)
The Company was incorporated on 20th January 1949, at Mumbai. In 1969 the
subsidiaries of the company were amalgamated with the holding company Blue
Star which was then converted into a public limited company with the present
name.
Its main business is concerned with manufacture and distribution of
commercial refrigeration equipment including water coolers, beverage coolers,
bulk ice markets, deep freezers, pre-fabricated walk-in-coolers, packaged
air-conditioners and components for large central refrigeration and
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air-conditioning plants. It also commissioned an ERP division. It is a
multinational company with joint ventures and collaborations with companies
from U.S.A, Malaysia, France, Italy, etc
The authorized share capital was `0.84 crores and the paid up share capital was
`0.566 crores in the year 1969 which was gradually raised to ` 20.32 crores in
2001. The company declared bonus shares on 29th April 1975,
29th April 1979, 29th April 1983, 7th October 1987, 7th October 1991 and
8th September 1995 in the ratio of 3:10, 1:2, 3:5, 3:5, 1:1, and 1:1 respectively
and a split in face value of share from `10 to `2 on 12th May 2006. It issued
rights shares in the ratio of 2:5 at a premium of `25 per share on
30th September 1993. It bought back 23,35,606 equity shares during
15th February 2002 to 3rd February 2003 at an average share price of `65.40 per
share amounting to `15.28 crores and reduced the share capital to `17.98 crores
after buy-back. The paid up equity share capital was `17.99 crores and reported
net profit was `211.49 crores for the year ending 2010.
4.3.13 Heavy Electricals and Electrical Utilities
4.3.13.1 Siemens Ltd (7)
The Company was incorporated on 2nd March 1957, as a private limited
company under the name Siemens Engineering and Manufacturing Company
of India Private Limited. This was changed to Siemens India Ltd in 1967. It
was again renamed as Siemens Ltd with effect from 31st March 1987.
The Company manufactures switchboards, switch gear, different types of
motors up to 315 KW, assembly of railway signaling equipment, X-ray and
other electromedical equipment, installation, testing and commissioning of
electrical plant and equipment undertaking repair work of motors, generators,
transformers, calorific and measuring instruments certain household appliances
and marine electrical equipment and selling of products manufactured by the
Company as well as those of its licensees.
The authorized share capital was `1 crore and the paid up share capital was
`0.4 crores in the year 1961. The company declared bonus shares on
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22nd August 1975, 22nd August 1977, 22nd August 1982, 22nd August 1987 and
22nd November 2007 in the ratio of 1:1, 1:2, 1:2, 1:4, and 1:1 respectively, and
a split in face value of share from `10 to `2 on 27th January 2006. It issued
rights shares in the ratio of 1:3 at a premium of `125 on 30th September 1993
and 1:4 at a premium of `190 on 3rd August 1999. It bought back 23,55,794
equity shares during 25th June 2001 to 13th June 2002 at an average share price
of `197.49 per share amounting to `46.52 crores and reduced the share capital
to `33.14 crores after buy-back. The paid up equity share capital was `67.43
crores and reported net profit was `827.21 crores for the year ending 2010.
4.3.13.2 ECE Industries Ltd (31)
The Company established in 1945 under the name Electric Construction &
Equipment Co Ltd at New Delhi had changed to its present name with effect
from 5th June, 1987 and is managed by the Birlas (BK) Group.
The main object of the company is manufacture of transformers, lifts and
switchgears and other components, meters, GLS, fluorescent and MV lamps.
The company also renders services like turnkey electrical installation railway
traction installations, passengers and goods lifts.
The authorized share capital was `14.5 crores and the paid up share capital was
`3.82 crores in the year 1990. The company declared bonus shares on
18th August 1981 and on 18th August 1987 in the ratio of 1:2 and 1:2
respectively. It issued rights shares in the ratio of 1:2 at a premium of `40 per
share on 21st March 1995 and in the ratio of 1:1 at a premium of `90 per share
again on 31st October 2008.
It bought back 13,44,957 equity shares during 24th February 2003 to 19th
November 2003 at an average share price of `20 per share amounting to `4.03
crores and reduced the share capital to `4.39 crores after buy-back. The paid up
equity share capital was `4.39 crores and reported net profit was `8.12 crores
for the year ending 2010.
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4.3.13.3 Fine- Line Circuits Ltd (33)
The Company was promoted by Mr.B.T. Doshi and Mr.Abhay Doshi and
incorporated as a Public Limited Company on 9th October 1989 as Fine- Line
Circuits Ltd in Gujarat at Ahmedabad. The main business of the company is
manufacture of professional grade single and double sided printed circuit
boards.
The authorized share capital was `5 crores and the paid up share capital was
`4.83 crores in the year 1991. It bought back 5,84,814 equity shares during
2nd June 2003 to 15th May 2004 at an average share price of `5.66 per share
amounting to `0.33 crores and reduced the share capital to `4.82 crores after
buy-back. The paid up equity share capital was `4.81 crores and reported net
loss was `0.72 crores for the year ending 2010.
4.3.14 Engineering, Industrial Machinery and Aluminium
4.3.14.1 G G Dandekar Machines Works Ltd (17)
G G Dandekar Machine Works was promoted in the year 1912 by Shri.Gopal
Ganesh Dandekar for manufacturing Rice Mill Machinery in Bhiwandi about
30 kms from Mumbai and was incorporated as a public limited company in
1939 and is presently operating under Kirloskars Group. The operations of the
Company involve manufacturing, sales, installation, commissioning and after
sales service of machines used in processing rice and cereals as modern
precleaner and loose machine and rice mill machinery.
The authorized share capital was `0.5 crores and the paid up share capital was
`0.4 crores in the year 1989. It bought back 22,617 equity shares during
28th January 2002 to 30th June 2002 at an average share price of `245.15 per
share amounting to `0.554 crores and reduced the share capital to `0.53 crores
after buy-back. The paid up equity share capital was `0.48 crores and reported
net profit was `1.67 crores for the year ending 2010.
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4.3.14.2 Hindalco Industries Ltd (18)
The Company was formed by the house of Birlas in collaboration with the
Kaiser Organisation of U.S.A. according to the Company's agreement with
Kaiser Aluminium and Chemical Corporation and was incorporated on
15th December 1958, at Mumbai.
Hindalco is one of the leading producers of aluminium and copper. Hindalco's
major products include standard and specialty grade aluminas and hydrates,
aluminium ingots, billets, wire rods, flat rolled products, extrusions and foil.
Birla Copper is a copper smelting unit and also produces precious metals,
fertilisers and sulphuric and phosphoric acid.
The authorized share capital was `10 crores and the paid up share capital was
`0.15 crores in the year 1959, which was gradually raised as per the needs of
the company. The company declared bonus shares on 11th September 1982,
11th September 1988, 11th September 1990 and 10th May 1996 in the ratio of
1:3, 1:3, 3:5, and 1:2 respectively and declared a split in face value of share
from `10 to `1 per share on 12th July2005. It issued rights shares in the ratio of
1:4 and 3:7 on 20th September 2005 and 20th June 2008 respectively at a
premium of `95 per share. It bought back 7,58,530 equity shares during
8th February 2002 to 22nd July 2002 at an average share price of `734.79 per
share amounting to `557.360 crores and reduced the share capital to `73.70
crores after buy-back. The paid up equity share capital was `191.4 crores and
reported net profit was `1915.63 crores for the year ending 2010.
4.3.14.3 Solitaire Machines Tools Ltd (26)
The company was incorporated on 24th May 1967 in Mumbai, Maharashtra, as
ACE Tools Pvt Limited and changed its name to Solitaire Machine Tools
Pvt. Ltd on 2nd May 1986. It converted into public ltd company on 2nd April
1992.
The main business of the company is to manufacture industrial holding tools
like collets, chucks etc. for drills, taps, reamers cutters etc.
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The authorized share capital was `5.5 crores and the paid up share capital was
`1.66 crores in the year 1992. It bought back 21,00,000 equity shares during
21st October 2002 to 2nd July 2003 at an average share price of `4.84 per share
amounting to `1.01 crores and reduced the share capital to `4.55 crores after
buy-back. The paid up equity share capital was `4.54 crores and reported net
profit was `0.17 crores for the year ending 2010.
4.3.14.4 Mazda Ltd (35)
Mazda Controls Limited was incorporated on 3rd September, 1990 at
Ahmedabad, Gujarat and was subsequently converted into a Public Limited
Company on 13th March, 1992.
The main business of the company is supplying equipments as complete
condensing packages comprising of surface condensers, C.E. pumps, gland
steel condensers, air evacuation systems, low pressure feed water heaters and
high pressure feed water heaters to various industries like power, fertilizers,
chemicals and bulk drugs industries, refineries, sugar and food industries, pulp
and paper and others. It has three divisions viz- Vacuum Systems Evaporators,
and Food. The food division manufactures instant flavoured, instant powder
and fruit jams.
The authorized share capital was `0.25 crores and the paid up share capital was
`0.25 crores in the year 1992. The company announced a change in the face
value of shares from`10 to `2 per share on 20th June 2005 and again changed
from Rs2 per share to Rs10 on 30th August 2006. It bought back 4,16,800
equity shares during 23rd July 2003 to 11th August 2003 at an average share
price of `8.91 per share amounting to `3713688 and reduced the share capital
to `3.76 crores after buy-back. The paid up equity share capital was `4.26
crores and reported net profit was `9.57 crores for the year ending 2010.
4.3.14.5 Avery India Ltd (39)
The Company was incorporated on 26th February, 1947 in Calcutta as a private
limited Company and promoted as a wholly owned subsidiary of Avery Ltd.,
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Soho Foundry, Birmingham, England. The Company was converted into a
public limited company on 1st March, 1968. The Company manufactures all
kinds of weights and measures of scales, balances, machines and appliances.
The authorized share capital was `4 crores and the paid up share capital was
`1.15 crores in the year. The company declared bonus shares on 3rd September
1984 in the ratio of 2:5 and on 30th September 1992 in the ratio of 1:1. It
bought back 8,227 equity shares during 21st June 2004 to 31st December 2004
at an average share price of `35 per share amounting to `2,87,945 and reduced
the share capital to `9.83 crores after buy-back. The paid up equity share
capital was `9.83 crores and reported net profit was `0.62 crores for the year
ending 2010.
4.3.14.6 Revathi Equipments Ltd (49)
The company was promoted by RMT Drill Private, Ltd. and was incorporated
as Revathi CP Equipments Ltd in the year 1977 in Coimbatore, Tamil Nadu.
The company was renamed as Revathi Equipments on 20th January 2003. It
manufactures drilling equipments and accessories for Mining, Construction and
Water Well / Exploration Drilling applications and Concreting Equipment such
as Batching Plants, Transit Mixers, Concrete Pumps, etc., and also exports to
countries like USA, Jordan, Tunisia, Nigeria, South Africa, Australia etc.
The authorized share capital was `3.5 crores and the paid up share capital was
`3.21 crores in the year 2003. The company declared bonus shares on
30th December 1987 in the ratio of 1:1 and 15th October 1997 in the ratio of
1:1.It issued rights shares in the ratio of 1:3 in March 1986 at a premium of `10
per share. It bought back 1,42,857 equity shares during 22nd January 2007 to
28th June 2007 at an average share price of `673.04 per share amounting to
`961.49 crores and reduced the share capital to `3.07 crores after buy-back.
The paid up equity share capital was `3.07 and reported net profit was `9.86
crores for the year ending 2010.
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4.3.15 Auto Parts
4.3.15.1 Exide Industries Ltd (14)
The Company was promoted by Raheja Group and incorporated on 4th January
1960, at Calcutta.
The Company manufactures lead and electric storage batteries, Exide motor
vehicle batteries, Dagenite batteries and other batteries for railway coaches
under the name Exide Ironclad and Shednought, heavy duty traction batteries,
special batteries, for aircraft duties and for radio and signal equipment; and also
stationary accumulators as required by power stations, telephone exchanges
and other electrical installations.
The authorized share capital was `1 crore and the paid up share capital was
`0.5 crores in the year 1959. The company declared bonus shares eight times
i.e. on 23rd June 1965, 23rd June 1968, 23rd June 1974, 23rd June 1977, 23rd June
1980, 23rd June 1983, 23rd June 1987,and 25th April 2003 in the ratio of 1:5,
1:5, 8:9, 3:8, 1:4, 3:5, 3:5, and 1:1 respectively. It issued rights shares thrice in
the ratio of 1:5, 1:4, and 1:15 on 26th March 1995, 17th February1998 and 28th
August 2007 respectively. It also declared a split in face value of share from
`10 to `1 on 16th June 2006. It bought back 3,90,932 equity shares during
4th January 2002 to 26th December 2002 at an average share price of `66.56 per
share amounting to `26 crores and reduced the share capital to `35.61 crores
after buy-back. The paid up equity share capital was `85 and reported net profit
was `537.09 crores for the year ending 2010.
4.3.15.2 ANG Auto Ltd (71)
The Company was originally incorporated in 1991 as a Private Limited
company under the name of ANG Exports Pvt. Limited and was converted into
a Public Limited Company on 2nd December 1994 in National Capital Territory
of Delhi and Haryana, New Delhi. It was again renamed as ANG Industries on
16th June 2010.
The Company is manufacturing and exporting auto components of Air Brake
Systems of Trucks and Trailers namely; Brake Rollers and Pins and also Hot
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Forged Bolts to USA based Companies viz, SIRCO Industries Inc., Reynolds
Fasteners Inc., Omni Inc., which are amongst the leading distributors and
suppliers of auto components in CE segment and the replacement market.
The authorized share capital was `5 crores and the paid up share capital was
`0.45 crores in the year. It bought back 7,50,000 equity shares during 28th July
2008 to 2nd January 2009 at an average share price of `52.23 per share
amounting to `3.92 crores and reduced the share capital to `12.54 crores after
buy-back. The paid up equity share capital was `12.50 and reported net profit
was `7.25 crores for the year ending 2010.
4.3.16 Diamond cutting and Precious Metal Jewellery
4.3.16.1 Goldiam International Ltd (58)
The Company was incorporated on 10th October 1986 under the name of
Goldiam (International) Pvt. Ltd. and subsequently the name was changed to
Goldiam lnternational Pvt.Ltd. The company became a deemed Public Ltd. and
was later converted into a Public Limited Company on 20th September 1994
and changed its name to Goldiam International Ltd.
The company is engaged in the twin business of export of cut and polished
diamonds and the export of plain and studded gold jewellery. After setting up
the diamond cutting and polishing section the company set up the jewellery
manufacturing facility incorporating the latest state of the art technology.
The authorized share capital was `10 crores and the paid up share capital was
`6.61 crores in the year 1994. The company declared bonus shares on 4th May
2002 and on 7th May 2005 in the ratio of 1:1 and raised the share capital to
`13.98 crores and `26.98 crores It bought back 14,86,804 equity shares during
7th May 2008 to 23rd October 2008 at an average share price of `39.88 per
share amounting to `5.93 crores and reduced the share capital to `25.55 crores
after buy-back. The paid up equity share capital was `24.95 crores and reported
net profit was `5.11 crores for the year ending 2010.
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4.3.17 Diversified
4.3.17.1 Kesoram Industries Ltd (13, 30)
The company was promoted by Birla group and incorporated at Calcutta in the
year 1919. The Company was incorporated on 18th October, 1919 under the
Indian Companies Act, 1913, in the name and style of Kesoram Cotton Mills
Ltd. It had a Textile Mill at Calcutta. The name of the Company was changed
to Kesoram Industries & Cotton Mills Ltd. on 30th August, 1961 and the same
was further changed to Kesoram Industries Limited on 9th July, 1986. The said
Textile Mill at Garden Reach Road was eventually demerged into a separate
company. At present the company is a well-diversified entity in the fields of
tyre, cement, rayon yarn, transparent paper, spun pipes and heavy chemicals
with two core business segments i.e. tyres and cement.
The authorized share capital was `0.03 crores and the paid up share capital was
`0.02 crores in the year 1919. The company declared bonus shares on
20th January 1966, 17th November 1975 and 17th November 1980 in the ratio of
1:4, 1:2 and 1:2 respectively. It issued rights shares in the ratio of 1:5 on
5th November 1993 and in the ratio of 1:3 at a premium of `50 per share on
11th August 1995. It bought back 64,36,214 equity shares during 9th October
2001 to 26th June 2002 at an average share price of `26.61 per share amounting
to `17.13 crores and reduced the share capital to `45.86 crores after buy-back.
It bought back again 5,71,093 equity shares at an average price of `18.5 per
share amounting to `18.50 crores during 27th January2003 to 1st September
2003, and reduced the equity share capital to `54.74 crores. The paid up equity
share capital was `45.74 and reported net profit was `237 crores for the year
ending 2010.
4.3.18 Cement, Cement Products and Iron
4.3.18.1 OCL India Ltd (12)
Orissa Cement Ltd was incorporated in Orissa in the year 1949 and was
renamed as OCL India Ltd on 15th January 1996. The Company's object is to
manufacture cement refractories reinforced cement, castables, precast blocks,
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lance pipe, concrete pipes etc. The Company uses the trade name Konark for
cement and Dalmia for refractories. The Company's works are situated at
Rajgangpur, Orissa on the main line of south eastern railway. The Company
owns limestone quarries and fireclay and Kaolin mines in the areas adjoining
the factory. Quartzite, the raw material for silica refractories, is obtained from
the mines owned by Dalmia Cement (Bharat) Ltd.
The authorized share capital was `14 crores and the paid up share capital was
`14 crores in the year 1996. The company declared a split in face value of
share from `10 to `2 per share on 18th May 2005. It issued rights shares in the
ratio1:3 on 8th July 1996 and 1:6 on 29th October 2005. It bought back 63,265
equity shares during 8th October 2001 to 15th January 2002 at an average share
price of `57 per share amounting to `3.61 crores and reduced the share capital
to `7.14 crores after buy-back. The paid up equity share capital was `11.38
crores and reported net profit was `163.70 crores for the year ending 2010.
4.3.18.2 Madras Cements Ltd (55)
The Company was incorporated at Rajapalayam, in Tamilnadu in 1957 by
Ramco Group. The Company manufactures cement and allied products as
ready mix concrete and dry mortar products. Cement is marketed under brand
of RAMCO Portland Cement. In 1992, the Company set up a 4 MW wind mill
farm at Muppandal, Kanyakumari district, and Poolaradi in Tamil Nadu. Power
generated is supplied to Tamil Nadu Power Grid and the credit for the same is
allowed by Tamil Nadu Electricity Board against their bills for Company's
power consumption.
The authorized share capital was `0.7 crores and the paid up share capital was
`0.4 crores in the year 1957. The company declared bonus shares on
30th September 1992 in the ratio of 1:1; 5th October 1994 in the ratio of 1:1 and
on 30th June 2006 in the ratio of 1:1. It declared a split in face value of share
from `100 to `10 on 11th August 2003 and from `10 per share to `1 per share
on 30th June 2008. It bought back 1,79,481 equity shares during 18th February
2008 to 7th April 2008 at an average share price of `3592 per share amounting
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to `64.4726 crores and reduced the share capital to `11.9 crores after buy-back.
The paid up equity share capital was `23.8 crores and reported net profit was
`353.68 crores for the year ending 2010.
4.3.18.3 Rain Commodities Ltd (66)
The company was incorporated on 15th March, 1974, under the name of
Tadpatri Cements,Ltd. The company was promoted by D.G.KMurthy, S.Veer
Reddy, N.Radhakrishna Reddy, P.Pratap Reddy, in association with Andhra
Pradesh Industrial Corporation. On 4th May 1984, the name of the company
was changed to Priyadarshini Cement Ltd and the company obtained mining
lease from the government of Andhra Pradesh initially for a period of 20 years
from October1984 for mining limestone over 430 acres in the village Revuru in
Nalgonda district of Andhra Pradesh. The company was renamed as Rain
Commodities on 29th December 2004.
The main business of the company is to manufacture Portland cement.
However, since 1984 it has undertaken mining limestone.
The authorized share capital was `24 crores and the paid up share capital was
`22.11 crores in the year 2004. It bought back 12,00,000 equity shares during
25th September 2008 to 3rd December 2008 at an average share price of
`149.66 per share amounting to `17.959 crores and reduced the share capital to
`70.83 crores after buy-back. The paid up equity share capital was `70.83
crores and reported net loss was `186.04 crores for the year ending 2010.
4.3.18.4 Mangalam Cement Ltd (76)
The company promoted by Kesoram Industries & Cotton Mills Ltd.was
incorporated on 27th October 1976 in Kota District of Rajasthan. The Century
Spinning & Mfg. Co. Ltd., The Gwalior Rayon Silk Mfg. (Wvg.) Co.Ltd., and
Pilani Investment Corporation Ltd., Rajasthan State Industrial & Mineral
Development Corporation Ltd. (RIMC) also participated in the promoters
capital. The Company manufactures Portland cement by dry process.
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The authorized share capital was `7 crores and the paid up share capital was
`5.8 crores in the year. It issued rights shares in the ratio of 3:5 on
30th September 1992, 1:1 on 3rd November 1997 and 1:1 on 19th May 1998. It
bought back 15,52,978 equity shares during 5th February 2009 to 30th July 2009
at an average share price of `72.03 per share amounting to `21.50 crores and
reduced the share capital to `26.69 crores after buy-back. The paid up equity
share capital was `26.69 and reported net profit was `118.81 crores for the year
ending 2010.
4.4 Electricity, Gas Stream and Air Conditioning Supply
4.4.1 Reliance Infra Ltd (56, 57)
The company was incorporated on 1st October 1929, at Mumbai as Bombay
Suburban Electric Supply Ltd to carry on generation and supply of electricity.
In 1992, the name of the Company was changed from Bombay Suburban
Electric Supply, Ltd. to its abbreviated version BSES Ltd which was again
changed to Reliance Energy Ltd on 27th February 2004 with the joining of Anil
Ambani as Chairman. The company was renamed as Reliance Infrastructure
Ltd on 14th May 2008.
The main business of the company up to 2007 was to manufacture and generate
power. However, it inked contracts with NHAI for the Road construction
projects to its activities. Its subsidiaries include Reliance Cementation Private
Limited, Reliance Cement and Infra Private Limited, Reliance Cement
Corporation Private Limited, Reliance Cement Works Private Limited,
Reliance Airport Developers Private Limited, Latur Airport Private Limited,
Baramati Airport Private Limited, Nanded Airport Private Limited, Yavatmal
Airport Private Limited, Osmanabad Airport Private Limited, PS Toll Road
Private Limited and KM Toll Road Private Limited.
The authorized share capital was `0.5 crores and the paid up share capital was
`0.17 crores in the year 1929. The company declared bonus shares on
29th April 1978, 29th April 1981 and 7th October in the ratio of 1:5, 1:3 and 1:1
respectively. It issued rights shares in the ratio of 1:2 on 30th September 1993.
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It bought back 87,60,000 equity shares during 17th March 2008 to 4th February
2009 at an average share price of `908.14 per share amounting to `765.93
crores and 25,00,000 equity shares during 25th February 2009 to 9th April 2009
at an average share price of `509.54 per share amounting to `127.38 crores and
reduced the share capital to `227.77 crores and `225.27 crores after buy-back.
The paid up equity share capital was `244.92 crores and reported net profit was
`1151.69 crores for the year ending 2010.
4.5 Construction and Real Estate Activities
4.5.1 DLF Ltd (72)
In 1979 DLF United Limited amalgamated with American Universal Electric
(India) Limited which was incorporated in 1963 and formed DLF Universal
Electric Limited which was renamed as DLF Universal Limited in 1981. It
obtained its first license from the State Government of Haryana and
commenced the development of DLF City in Gurgoan Haryana. DLF Universal
Limited again changed its name to DLF Limited in 2006.
The main business of the company is construction in real estate and developing
buildings, corporate parks, hotels and service apartments developing roads,
highways and bridges across the country.
The paid up share capital was `340.96 crores in the year 2007. It bought back
76,38,567 equity shares during 17th October 2008 to 4th May 2009 at an
average share price of `184.19 per share amounting to `140.65 crores and
reduced the share capital to `339.43 crores after buy-back. The paid up equity
share capital was `339.48 and reported net profit was `765.06 crores for the
year ending 2010.
4.6 Transportation and Storage
4.6.1 Shipping
4.6.1.1 Great Eastern Shipping Ltd (2, 9)
The company has been promoted by A H Bhiwandiwalla & Co. (Mumbai) Pvt.
Ltd and incorporated at Mumbai in 1948.
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The main activities of the company to own, purchase, charter ships, boats and
sea going vessels. The Company operates regular cargo services on the Indian
coast and in adjacent waters and carries mineral oil products on the Indian
coast under charter. It also carries on overseas liner service between west coast
of Canada, U.S.A. and India. The Company also acts as agents for foreign
shipping companies amongst whom the important ones are Yasmashita-
Shinnihom Steamship Co., Ltd., Tokyo and Stanhope Steamship Co. Ltd.,
London.
The authorized share capital was `80 crores and the paid up share capital was
`37.55 crores in the year 1985. The company declared bonus shares on in the
ratio of 2:3 on 29th September 1982 and 1:5 on 29th September 1992. It issued
rights shares in the ratio 1:1 of on 30th September 1992 and on 19th January
1994 in the ratio of 2:5. It bought back 4,29,40,921 equity shares at an average
share price of `34.91 per share amounting to `149.999 crores during
26th December 2000 to 25th September 2000 and 2,55,73,270 equity shares at
an average share price of `28.27 per share amounting to `72.35crores during
23rd August 2001 to 26th July 2002 and reduced the share capital to `215.9 and
`190.33 crores after buy-back respectively. The paid up equity share capital
was `152.29 crores and reported net profit was `395.75 crores for the year
ending 2010.
4.6.1.2 Great Offshore Ltd (59)
Great Offshore Ltd. started its business from the year 1983 as a part of Great
Eastern Company Ltd and promoted by Mr Vijay K Seth. In 1985 it formed a
joint venture Great Atwood Ltd with Atwood Oceanics Inc, USA and A H
Bhiwandiwalla & Company to commence drilling and exploration activities.
Great Offshore Limited was incorporated on 14th July 2005 and the offshore
services business of The Great Eastern Shipping Co. Ltd. was demerged and
vested in the Company with effect from April 1, 2005 pursuant to a Scheme of
Arrangement sanctioned by the Mumbai High Court. The Company specializes
in providing offshore support solutions to the Exploration & Production
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Industry. In this segment the Company operates Drilling Rigs, Offshore
Support Vessels and undertakes Marine Construction Projects and services.
The authorized share capital was `0.05 crores and the paid up share capital was
`0.05 crores in the year 2005. It bought back 9,78,977 equity shares during
7th May 2008 to 30th March 2009 at an average share price of `564.26 per share
amounting to `55.24 crores and reduced the share capital to `37.14 crores after
buy-back. The paid up equity share capital was `37.23 crores and reported net
profit was `174.62 crores for the year ending 2010.
4.6.2 Transportation and Logistics
4.6.2.1 Gateway Distiparks Ltd (63)
The Company was originally promoted by NTSC, CWT Distribution Limited
(CWT), NUR Investment and Trading Pvt. Ltd (NUR) and Intercontinental
Forest Products Pte. Ltd. (IFP) as a joint venture company to conduct the
business of warehousing, container freight stations and all related activities. On
13th March 13, 1995, IFP resigned as a joint venture partner and was replaced
by Parameswara Holdings Ltd. and on 1st April 1996 CWT and NUR also
resigned as joint venture partners and they were replaced by Windmill
International Pte Ltd. and Thakral Corporation Ltd.
Gateway Distriparks Ltd. is a world-class state-of-the-art logistics facilitator in
one of the world’s fastest growing markets-India with modern Container
Freight Station’s (CFS’s) at Dronagiri (about 9 kms from the Jawaharlal Nehru
Port), Navi Mumbai and New Manali, Chennai besides an Inland Container
Depot (ICD) at Garhi Harsaru(near Delhi), Haryana and a newly commissioned
CFS at Vishakapatnam (a Joint Venture with Suri group) and provides logistics
solutions that fulfill the needs of the international trading community as well as
the shipping industry.
The authorized share capital was `70 crores and the paid up share capital was
`64 crores in the year 2002. The company declared bonus shares on 30th April
2007 in the ratio of 1:4 and raised the equity share capital to `115.596 crores. It
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bought back 78,83,412 equity shares during 11th August 2008 to 24th January
2009 at an average share price of `81.18 per share amounting to `63.999 crores
and reduced the share capital to `107.714 crores after buy-back. The paid up
equity share capital was `107.90 and reported net profit was `77.21 crores for
the year ending 2010.
4.7 Information and Communication
4.7.1 Computer Software Production
4.7.1.1 Ace Software Exports Ltd (32, 51)
Ace Exports Ltd, originally a partnership firm was promoted by Mr. Sanjay
Dhamsania, Mr. Vikram Sanghani and Mr. Jay Sanghani and incorporated on
17th August 1994 as a public limited company at Rajkot in Gujarat State with
an authorized share capital of 6 crores equity shares and paid up capital of `5
crores equity shares at `10 per share.
The main business of the Company include carrying on the business of
Exporters, Importers Lenders and Hirers, Traders, Dealers, Buyers, Sellers,
Commission Agents, Contractors, SubContractors, Repairers of Computer
Software and Hardware, Data Processing, Computer Aided Designs [CAD],
Computer Aided Manufacturing [CAM], conversion of all types of
Engineering/Drawings to Electronic Media and other allied peripherals and
media products of all types and telecommunication establishing and running
data processing/computer centers, offering consultancy and data processing
services, importing training on electronic data processing computer software
and hardware, to customers and others and conducting seminars, conferences
for all matters relating to computer hardware, software and other related
matters.
Financially, the company raised its capital from 50,00,000 equity shares to
57,00,000 equity shares during April 2003 to June 2003 by conversion of
warrants and later bought back 5,78,274 equity at an average price of `9.47 per
share during 13th October 2003 to 24th August 2004 and reduced its capital to
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`5.12 crores and undertook a second buy-back of its shares during 14th May
2007 to 28th September 2007 and bought back 4,41,726 equity shares at an
average price of `16.91 per share and reduced the equity share capital to `4.68
crores. During 2008 there was an increase in reported net profit up to `.2.67
crores which declined to `.0.49 crores in 2009 and the company ended the year
at a loss of `0.20 crores in the year 2010.
4.7.1.2 Mastek Ltd (38, 60)
The Company was originally promoted by Ashok Desai, Ketan Mehta and R.
Sundar and incorporated on 14th May 1982 under the name Management and
Software Technology, Pvt. Ltd. The name of the Company was changed to
Mastek, with effect from16th August, 1992
The main objects and activities of the Company is manufacturing and setting of
and dealing in computer software packages. It offers customer specific IT
solutions to various industries as stock brokers, share trading and accounting
software, ERP software, etc. Mastek has wholly-owned subsidiaries in five
countries: Majesco Software Inc, USA, Mastek UK Ltd, Mastek Germany
GmbH, Mastek Software Sdn. Bhd, Malaysia and Mastek Asia Pacific Pvt. Ltd
in Singapore.
The authorized share capital was `1 crores and the paid up share capital was
`0.93 crores in the year 1999. The company declared bonus shares on 29th July
1999 and on 12th January 2006 in the ratio of 1:1 and raised the share capital to
` 6.93 crores and `14.07 crores respectively. It declared a split in face value of
share from `10 to `5 on 17th August 2005.
It bought back 3,99,848 equity shares during 27th May 2004 to16th May 2005
at an average share price of `273.35 per share amounting to `10.93 crores and
reduced the share capital to `6.93 and again bought back 16,60,095 equity
shares during 20th May 2008 to 24th July 2008 at an average price of `391.55
per share amounting to `64 crores and reduced the share capital to `13.44
crores after buy-back. The reported net profit was `37.00 crores for the year
ending 2010.
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4.7.1.3 Patni Computers Ltd (62)
Patni Computer Systems Limited was incorporated in Pune, Maharashtra as
Patni Computer Systems Private Limited on 10th February 1978, became a
deemed public company under Section 43A and subsequently on 15th April
1991 it was converted into a private limited company. The company was
finally converted into Public Limited Company on September 18, 2003.
The original activities of the Company were computer time rental, the resale of
imported computer hardware, and software exports. It undertakes the sale and
marketing of computer equipment and hardware maintenance.
The authorized share capital was `25 crores and the paid up share capital was
`14.86 crores in the year 2002. In 2004 it issued Initial Public Offering (IPO)
of 18,724,000 equity shares in the price of ` 230 per share for a face value of
`2 each. It bought back 1,09,57,082 equity shares during 10th July 2008 to
28th October 2008 at an average share price of `216.30 per share amounting to
`236.999 crores and reduced the share capital to `25.62 crores after buy-back.
The reported net profit was `542.73 crores for the year ending 2010.
4.7.2 IT Consulting and Software
4.7.2.1 Sasken Communications and Technologies Ltd (65)
Sasken Communications and Technologies was incorporated in Gujarat on
13th February 1989 as ASIC Technologies Private Limited which was changed
to Silicon Automation Systems (India) Private Limited on 13th October
1992.On 20th April 1993 the registered office was shifted to the State of
Karnataka and the company was again renamed as Sasken Communications
Technologies Ltd on 30th December 1998.
The main business of the company is to produce wireless software products and
software services, and it works with Network OEMs, Semiconductor Vendors,
Terminal Device OEMs and Operators across the world.
The authorized share capital was `20 crores and the paid up share capital was
`12.47 crores in the year 1998 which was gradually raised to `50 crores and
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`28.56 crores by the end of 2006. It bought back 1,44,972 equity shares during
15th September 2008 to 27th October 2008 at an average share price of `106.80
per share amounting to `15.84 crores and reduced the share capital to `27.11
crores after buy-back. The reported net profit was `76.03 crores for the year
ending 2010.
4.7.2.2 GSS America Infotech Ltd (73)
GSS America Infotech Limited was promoted by Mr.Bhargav Marepally and
Mr. Ramesh Yerramsetti and was incorporated as Mayes Technologies Private
Limited on 13th October 2003 with its registered office at Hyderabad, Andhra
Pradesh. On acquisition of majority stake in the US based software company,
on 15th June 2006 the name of the company was changed to GSS America
Infotech Private Limited to sync in line with the ‘Brand’ in the US Market.
Subsequently, the Company was converted into public limited company on
7th July 2006.
In October, 2003 it started with outsourcing contracts for Business
development Services and Back Office work from US based clients and has
evolved into an IT outsourcing service provider with a number of services that
meet most of its client’s outsourcing needs. GSS America is now a global
provider of customized solutions and software services to clients in USA.
The authorized share capital was `0.1 crores and the paid up share capital was
`0.1 crores in the year 2004. The company declared bonus shares in the ratio of
4:10 in 2006. It bought back 5,63,157 equity shares during 25th February 2009
to 5th August 2009 at an average share price of `152.27 per share amounting to
`8.571 crores and reduced the share capital to `12.74 crores after buy-back.
However, the company raised `13989.98 lakhs during the financial year
2007-2008 i.e. before buy-back and `4564.84 lakhs during the quarter ending
30th June 2010 through qualified institutional placement by issuing 14,00,000
lakh shares at `326.06 per share. The reported net profit was `13.80 crores for
the year ending 2010.
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4.7.3 Computer Hardware
4.7.3.1 MRO- Tek Ltd (52)
The Company was promoted by Mr. Sarangan Narayanan and Mr. Himadri
Nandi, as MRO-TEK Private Limited' on 10th February 1984 in Bangalore and
became a Public Limited Company on 17th June 1998 as 'MRO-TEK Limited'.
The main business of the company is to manufacture, assemble, fabricate,
produce, repair, use, buy-sell, hire, import, export, install, consult, deal in all
types of instruments such as electronic Electrical, Medical Laboratory etc. It
manufactures analog/digital modems, convertors and multiplexer.
The authorized share capital was `4.5 crores and the paid up share capital was
`3.76 crores in the year 1998. It bought back 17,55,554 equity shares during
4th June2007 to19th October 2007 at an average share price of `46.99 per share
amounting to `8.25 crores and reduced the share capital to `9.49 crores after
buy-back. The reported net loss was `1.82 crores for the year ending 2010.
4.7.4 Telecom Cables and Equipments
4.7.4.1 Surana Telecom and Power Ltd (67)
The Company was promoted by Surana Group and incorporated as a Private
Limited Company on 14th August 1989 as Surana Petro Products Pvt. Ltd in
Hyderabad and was converted into a Public Limited Company on 9th July 1993.
By 1994, Telecom business became the primary business activity of the
Company and in order to reflect the same, the name of the Company was
changed to Surana Telecom Ltd. on 5thAugust1994.
It is engaged in the business of manufacturing of Petro Products such as
Petroleum Jelly and Telecom products such as heat shrinkable jointing kits,
cable splicing/filling compounds, aluminium rods wire connectors, end caps,
modular connectors and HDPE pipes and optical fibre cables assembly of
CDMA mobile handsets fixed wireless telephones power cables, wind power
etc.
The authorized share capital of the company in 1994 was `5 crores and paid up
capital was ` 4.36 crores. It declared bonus shares on 9th March 2001 in the
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ratio of 3:2. It bought back 18,00,000 equity shares during 30th April 2008 to
21st January 2009 at an average price of `24.69 per share and reduced its
capital to `10.4 crores. The paid up capital of the company was `10.4 crores
and the reported net profit was `1.15 crores for the year ending 2010.
4.7.4.2 Valiant Communications Ltd (80)
The company was incorporated as a Private Limited company on
28th December1993, at Delhi and was converted into a public limited company
on 17th August 1994.
The main products manufactured by the company includes telecom equipments
as WiMAX and Broadband solutions, Ethernet-based products, internet
protocol, voice quality enhancement solutions for wireless, wire line and long
distance telephony applications, cellular / mobile network application solutions,
ISPs applications, corporate and enterprises network applications, new
Ethernet-based and IP (Internet protocol) based products and solutions.
Initially the paid up share capital of the company in the year 1993 was
`0.24 crores which was gradually raised to ` 8.65 crores in 2008. However, it
bought back 11,25,000 equity shares during 7th October 2008 to 21st May 2009
at an average price of `23.62 and reduced its share capital to `7.52 crores. The
reported net profit of the company was `1.09 crores for the year ending 2010.
4.7.4.3 Avantel Ltd (81)
The company was incorporated as Avantel Softech Ltd in Hyderabad in 1996
with an authorized share capital of `4 crores and a paid up share capital of
`̀̀̀3.1crores. The name of the company was changed to Avantel Ltd on
15th December 2008. The company manufactures various telecom products.
The share capital was `5.15 crores in 2000 which was raised to `5.65 crores in
2002. But on 3rd April 2003 it reduced its share capital under ESOP plan to
`5.15crores and it bought back 4,46,243 equity shares at an average price of
`49.05 amounting to `218.897 lakhs and reduced the equity share capital to
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`4.71 crores during 27th May 2009 to 4th August 2009. The reported net profit
was `1.23 crores for the year ending 2010.
4.8 Information and Communication and Broadcasting and Cable
T V
4.8.1 T V Today Network Ltd (79)
TV TODAY Network was promoted by India Today Group in the year 2002 at
Videocon Tower Jhandewalan Extention New Delhi. The main business of the
company is entertainment / multimedia broadcasting and communication and
Aaj Tak and Headlines are the main broadcasting channels.
The authorized share capital was `27 crores and the paid up share capital was
`24 crores in the year 2002. It bought back 2,44,884 equity shares during
16th March 2009 to 23rd July 2009 at an average share price of `80.52 per share
amounting to `197.26 lakhs and reduced the share capital to `28.882 crores
after buy-back. The reported net profit was `30.86 crores for the year ending
2010.
4.9 Financial and Insurance Activities
4.9.1 Indiabulls Financial Services Ltd (45)
Indiabulls Financial Services Limited was incorporated on 10th January 2000 as
M/s Orbis Infotech Private Limited at New Delhi. The name of Company was
changed to M/s. Indiabulls Financial Services Private Limited on 16th March
2001 due to change in the main business of the Company from Infotech
business to Investment and Financial Services business. On 27th February 2004
the name of Company was again changed to M/s. Indiabulls Financial Services
Limited.
Indiabulls Financial Services is one of India’s leading non-banking financial
companies (NBFCs). Indiabulls Financial Services is a leading provider of
lending and other financial products including home loans, commercial vehicle
loans and secured loans to SME’s through its 140 locations across India.
The authorized share capital was `5 crores and the paid up share capital was
`16.31 crores in the year 2003. It bought back 18,13,696 equity shares during
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9th December 2000 to 17th February 2006 at an average share price of `208 per
share and reduced the share capital to `32.05 crores after buy-back. The paid
up share capital was `61.98 crores and reported net profit was `264.16 crores
for the year ending 2010.
4.9.2 Prime Securities Ltd (46)
The Company was promoted by Vasant Sheth Group and incorporated in the
name of Suvibha Investment Company Private Limited on 20th March 1982 in
Mumbai. The name was subsequently changed to Prime Securities Limited on
29th November, 1990. Thereafter the Company became a Public Company by
passing a Special Resolution on 16th March 1992 and obtained a fresh
Certificate of Incorporation dated 25th February 1993. The Company is
involved in the business of trading in equity, merchant banking advisory
services, foreign exchange advisory services, equity research etc.
Prime Securities started with an initial capital of `11.02 crores in 1992 which
subsequently increased to `18.92crores in 1993, `21.95 crores in 1995, and
`24.15 crores in 2000. The company declared a split in face value of share
from `10 to `5 in 2004. It bought back 3,44,900 equity shares during
27th January 2006 to 2nd March 2007 at an average share price of `63.52 per
share amounting to `2.19 crores and reduced the share capital to `12.27 crores
after buy-back. The reported net profit was `7.05 crores for the year ending
2010.
4.9.3 L K P Finance Ltd (75)
The Company was originally incorporated as Elkaypee Merchant Financing
Pvt. Ltd. on 5th May 1984 and the certificate of change of name to LKP
Merchant Financing Ltd was obtained on 13th February 1986. The Company
changed its name from LKP Merchant Financing Ltd to LKP Finance Ltd in
2008.
The Company is in the field of financial Services such as hire purchase and
leasing of plant and capital equipment, machinery vehicles, etc; managing
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public and rights issues, underwriting of issues, discounting of bills of
exchange, Loan Syndication, project appraisal, portfolio management money
market operations, placement of securities and other financial consultancy and
advisory services.
The authorized share capital was `20 crores and the paid up share capital was
Rs12.8 crores in the year 2008. It bought back 44,377 equity shares during
24th February2009 to 17th July 2009 at an average share price of `77.65 per
share amounting to `3.47 crores and reduced the share capital to `12.71 crores
after buy-back. The reported net profit was `19.22 crores for the year ending
2010.