Financial Daily from THE HINDU group of publications
Wednesday, Jul 27, 2005
Financial Daily from THE HINDU group of publications Wednesday, Jul 27, 2005 |
|
|
|
|
|
Corporate
-
Diversification Texmaco plans hydel plants in N-E region Our Bureau
Kolkata , July 26 TEXMACO Ltd, the K.K. Birla group company engaged in wagon manufacturing, may set up hydel plants in the Eastern region. The company may also merge its existing four subsidiaries. This was stated by Mr S.K. Poddar, Vice-Chairman, at the company's 65th AGM on Tuesday. Currently, Texmaco manufactures hydro-mechanical equipment and structurals for hydel plants. It is also a joint venture partner in Neora Hydro Ltd, which is setting up a 3-MW mini-hydel plant in Darjeeling region of West Bengal. The total investment has been pegged at Rs 20 crore. "We would first like to study our performance in this project. And if we are satisfied we may set up our own hydel plant. Moreover, the Union Government is laying a major thrust in hydel generation in the North-Eastern region," Mr Poddar told newspersons after the meeting. For the year ended March 31, 2005 Texmaco's turnover increased to Rs 303.71 crore from Rs 169.36 crore earlier. Net profit, however, dropped to Rs 15.66 crore from Rs 18.79 crore. In 2003-04, net profit jumped because of a real estate deal that helped the company record an extra profit of Rs 12.75 crore. On the subsidiaries, Mr Poddar said that an internal evaluation was on and that a merger was being considered. However, he ruled out such a merger in the current fiscal. The four subsidiaries are High Quality Steels Ltd, Shree Export House Ltd, Macfarlane & Co Ltd, and Texmaco Machines Pvt Ltd. Texmaco's order book for wagons for 2005-06 is pegged at Rs 550-600 crore. However, Mr Poddar said, these orders are yet to be placed by the Railways. "We are expecting to receive them by August this year." The company is also planning to build specialised wagons for the Railways. It recently supplied 1,125 four-wheelers of high-speed low-platform bogie container flat wagons to Container Corporation of India. The order was worth Rs 74 crore and was supplied in April.
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 | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, 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
|