Financial Daily from THE HINDU group of publications
Wednesday, Jun 30, 2004
Financial Daily from THE HINDU group of publications Wednesday, Jun 30, 2004 |
||
|
|
||
|
Corporate
-
Announcements Hind Rectifiers in talks with Siemens for Rs 40-cr order Our Bureau
Mumbai , June 29 HIND Rectifiers Ltd (Hirect), a contract manufacturer of transformers, is in talks with Siemens for a four-year contract valued at close to Rs 40 crore for supplying rectifiers to be used ultimately by the Indian Railways. Mr S.K. Nevatia, Managing Director, Hind Rectifiers, said the company hopes to build on such contracts to hold its lead in the domestic Rs 150-crore rectifier and semi-conductor business. "Currently, the Railways account for 40 per cent of our business," Mr Nevatia said. Hirect, which was in the red until about two years ago, has recorded a net profit of Rs 1.27 crore for the year ended March 31, 2004, on revenues of Rs 35.35 crore. Mr Vinod Maria, President, Hirect, said the cumulative losses have been wiped off and the company has reduced its workforce from about 450 a couple of years ago to near 350 now. The board of directors of the company that met here has declared a dividend of Rs 2.50 per share or 25 per cent. The company's quiet counter on the BSE last saw activity on June 24 when its shares closed at Rs 72.45 apiece.
More Stories on : Announcements | Electrical Goods
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|