Gitanjali in retail expansion plans
Chennai: Jewellery major, the Gitanjali Group,plans to expand its retail presence in the country and also plans to launch an EzeeDiamonds scheme that will allow people to invest in diamonds.

In order to have a transparent pricing policy the Group will provide consumers with a benchmark, and would publish a price chart of diamonds every fortnight in the newspapers.

Consumers could use the certified and sealed diamonds for gifting or investment, or for their own use. If they return the diamonds to the retailer for cash, they will get their money back within a week, the Group has said.

By end-2006, Gitanjali aims to set up ten stores to exclusively retail its jewellery brands - Gili, D'damas, Nakshatra, Asmi and Sangini. It has set up Gitanjali Retail Ventures and its Infinity Fund will finance 50 per cent of the inventory as its contribution to the franchisee's investment, apart from management and marketing knowhow.
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GM India to launch Chevrolet 'Spark' next year
Kolkata: General Motors India will introduce the `Chevrolet Spark', in the first half of next year.

Company officials said that this B segment car will be at least two generations ahead of the earlier Daewoo Matiz, and will be positioned alongside the Wagon R and Hyundai Santro. It will also be priced competitively.

After the launch of the Aveo, the company is all set to roll out the Optra SRV (Sports Recreational Vehicle) and the Aveo U-VA in the next few months. Towards this end, capacity at the company's manufacturing facility in Halol, Gujarat, was being ramped up from its current 60,000 units to 85,000 units.

According to GM officials, the company intended to manufacture and sell 200,000 units across its product offerings in 2010. For 2006, the company has set for itself a sales target of 50,000 units — 20,000 each of the Tavera and Aveo and 10,000 units of the Optra.

In 2005, General Motors India had sold 30,000 vehicles.
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Shree Renuka signs MoU with Copersucar, Brazil
Mumbai: Shree Renuka Sugars has entered into a memorandum of understanding (MoU) with Copersucar, Brazil, for supply of high-quality raw sugar and allied technical support for three years for its 2000 TPD port-based sugar refinery coming up at Haldia, West Bengal.

According to company release, Copersucar is Brazils largest sugar-milling marketing group and one of the largest sugar and alcohol producers in the World. It has 29 sugar mills, processing over 58 million tons of cane each year, producing about 3.7 million tons of sugar and 2.78 billion litres of ethanol. It also owns and operates its own port terminal for exports.

The board of the company has also approved the appointment of Jonathan Kingsman as an additional director. Kingsman is a world-leading independent analyst and commentator on sugar and ethanol markets. Kingsman heads his own sugar and biofuel consultancy company, "Societe J Kingsman", with its headquarters in France.

The company covers the global sugar and biofuels markets and is a leader in terms of brokerage, price reporting and market analysis, the release added.
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Russian, Taiwanese firms win Hyderabad ORR project
Hyderabad: Corporation Transstroy of Russia and Continental Engineering Corporation from Taiwan have bagged the 24-km first phase Outer Ring Road (ORR) project comong up in Hyderabad.

The project is to be carried out in two packages. The Russian company was the lowest bidder for the first package quoting Rs219 crore, while the Taiwanese company bagged the second package by quoting Rs251 crore, which is 7.8% lower than the benchmark cost, according to state government officials.

The first phase of the eight-lane road project will connect Gachibowli, the IT hub, with the new international airport coming up at Shamshabad. The construction of the 24-km stretch of ORR is scheduled to be completed by December 2007.
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Govt. to shut down or sell Hind Cables
Kolkata: The Union government has decided not to revive Kolkata-based ailing PSU, Hindustan Cables (HCL), which is the only public sector telecom cable and wire manufacturer in the country.

The company has two units, at Roopnarayanpur in West Bengal and another in Andhra Pradesh, with a large township and extensive road network.

Union minister for heavy industries, Santosh Mohan Dev, said today that the government has decided either to sell or close it down as "the unit is beyond redemption."

Commenting on Andrew Yule, Dev said the revival package had been cleared by BIFR and it would be submitted to the Cabinet Committee on Economic Affairs soon.
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Tata Power to augment generation capacity to 4,500 MW
Mumbai: Tata Power has drawn up significant and aggressive growth plans to augment generation capacity to over 4500 MW involving capex of Rs1,80,000 million. In addition, the company will be participating in ultra mega power projects.

The company has already set a new industry benchmark by way of constructing and commissioning of the 120 MW coal-fired Unit IV at the Jojobera Power Plant in a record time of 23 months. The Company is implementing a 250 MW coal based plant at Trombay, to meet Mumbai's future power requirement. The project is scheduled to be commissioned in next 28 months.

The Company is setting up an imported coal based 1000 MW power plant in coastal Maharashtra to meet the long-term power requirements of Mumbai and Maharashtra. The Government of Maharashtra has been approached for acquisition of land for this project.

The Company has completed acquisition of 74% equity stake in Maithon Power Ltd (MPL) from DVC for implementing the 1000 MW Maithon Right Bank Thermal Power Project. The project has been targeted for commissioning in Year 2010.

The Company is also setting up a 120 MW captive plant for Tata Steel in Jamshedpur, based on utilizing the waste gases from the steel making process. The project gestation period is expected to be 26 months. The company is also in discussions with Tata Steel for setting up captive power plants for their expansion Chattisgarh, Orissa and Jharkhand.

The Company has already submitted its expression of interest for four ultra mega power projects, one each in Gujarat, Madhya Pradesh, Maharashtra and Karnataka.
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HCL to provide sales and service support for iPods in India
New Delhi: HCL Infosystems Ltd has announced that it has formed a strategic alliance with Apple in order to provide a support strategy for Apple iPods in India.

As part of the alliance, HCL will provide complete sales and service support for the iPods in India.

As part of the tie-up, the company is setting up distribution, logistics and service network to ensure availability of the iPods at key retail channels, including music shops, consumer electronic stores, format stores and other key outlets.

To be launched in a phased manner, the first phase would cover metros and key mini-metros including Delhi, Mumbai, Bangalore, Hyderabad, Kolkata and Pune.
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Wipro executives graduate from online school
Bangalore: Over 100 senior Wipro executives graduated today from the U21Global Certificate of Management Studies.
U21G is an online graduate school with specially designed programmes catering to working professionals.

Wipro executives ranging from senior managers to vice-presidents signed up for the 10-month general management programme covering organisational behaviour, finance, marketing and strategic management.
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Paradip port allots land to Deepak Fertilisers
Kolkata: Paradip Port Trust (PPT) has decided to allot 39 acres of land to Deepak Fertilisers & Chemicals Ltd in order to set up an ammonium nitrate fertiliser plant with an estimated capacity of 2.5 to three lakh tonnes annually.

Deepak Fertilisers will utilise the facilities at Paradip port for importing raw material and exporting the finished product. More than a lakh tonnes of liquid ammonia will have to be imported annually and the company will use Paradeep Phosphates Ltd's (PPL) captive jetty in the port to handle the import.

Also, PPL's storage tank will be used for storing the imported chemical.

The port facility, it is learnt, will also be used to export the bulk of the production, an estimated 1.5 to two lakh tonnes, while the balance quantity is to be evacuated by rail/road for sale in the domestic market.
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Adlabs Films sets up wholly owned subsidiary in UK and USA
Adlabs Films Ltd has informed the BSE that the company has set up wholly owned subsidiaries in the UK and USA for its overseas distribution of Indian films, film co-production and post production business.
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Corporate results: TV Today Network Ltd, D-Link India Ltd, Mirc Electronics Ltd, Engineers India Ltd, Tata Power, Ramco Systems Ltd, Mahindra & Mahindra

TV Today net up 69 pc
TV Today Network Ltd has reported a 69 per cent jump in its net profit at Rs27.77 crore during the financial year 2005-06.
The company recorded a net profit of Rs16.43 crore in the previous year. It reported sales of Rs167.89 crore during financial year 2005-06 up from Rs146.45 crore in the previous year.

D-Link India announces Q4 & FY 06 results
D-Link India Ltd has announced the following results for the quarter & year ended March 31, 2006:

The Unaudited financial results for the quarter ended March 31, 2006:

The Company has posted a net profit of Rs49.245 million for the quarter ended March 31, 2006 (Q4 FY 05-06) as compared to Rs82.235 million for the quarter ended March 31, 2005 (Q4 FY 04-05). Total Income (net of excise) has decreased from Rs866.466 million in Q4 FY 04-05 to Rs741.117 million for Q4 FY 05-06.

The Audited financial results for the year ended March 31, 2006:

The Company has posted a net profit of Rs232.056 million for the year ended March 31, 2006 (FY 05-06) as compared to Rs286.242 million for the year ended March 31, 2005 (FY 04-05). Total Income (net of excise) has increased from Rs2752.480 million in FY 04-05 to Rs2808.897 million for FY 05-06.

The Audited Consolidated results are as follows:

The Group has posted a net profit after adjustments of Rs228.207 million for the year ended March 31, 2006 (FY 05-06) as compared to Rs281.546 million for the year ended March 31, 2005 (FY 04-05).

Total income (net of excise) has increased from Rs2888.479 million in FY 04-05 to Rs3228.272 million for FY 05-06.

The board has also recommended payment of 100% dividend of Rs 2/- per share for the year ended March 31, 2006.

Mirc Electronics announces Q4 & FY 06 results
Mirc Electronics Ltd has announced the following Audited results for the quarter & year ended March 31, 2006:

The Company has posted a profit after tax of Rs40.30 million for the quarter ended March 31, 2006 (Q4 FY 05-06) where as the same was at Rs38.90 million for the quarter ended March 31, 2005 (Q4 FY 04-05). Total Income (net of excise) is Rs2912.20 million Q4 FY 05-06 where as the same was at Rs2302.50 million in Q4 FY 04-05.

The company has posted a profit after tax of Rs327.90 million for the year ended March 31, 2006 (FY 05-06) where as the same was at Rs277.80 million for the year ended March 31, 2005 (FY 04-05). Total income (net of excise) is Rs12249.60 million for FY 05-06 where as the same was at Rs10961.80 million for FY 04-05.

The Consolidated results are as follows:

The Group has posted a profit after tax for the group of Rs264.40 million for the year ended March 31, 2006 (FY 05-06) where as the same was at Rs230.30 million for the year ended March 31, 2005 (FY 04-05). Total Income (net of excise) is Rs12378.70 million for FY 05-06 where as the same was at Rs11093.20 million for FY 04-05.

The Board of Directors has recommended a dividend of 75% subject to the approval of shareholders.

Engineers India announces Q4 & FY 06 results
Engineers India Ltd has announced the following results for the quarter & year ended March 31, 2006:

The unaudited results are as follows

The company has posted a net profit after tax of Rs356.40 million for the quarter ended March 31, 2006 (Q4 FY 05-06) as compared to Rs379.80 million for the quarter ended March 31, 2005 (Q4 FY 04-05). Total Income has decreased from Rs3612.20 million in Q4 FY 04-05 to Rs2010.90 million for Q4 FY 05-06.

The audited results are as follows

The Company has posted a net profit after tax of Rs1386.40 million for the year ended March 31, 2006 (FY 05-06) as compared to Rs1126.40 million for the year ended March 31, 2005 (FY 04-05). Total Income has decreased from Rs9736.70 million in FY 04-05 to Rs8571.50 million for FY 05-06.

The audited consolidated results are as follows

The group has posted a net profit after tax of Rs1428.30 million for the year ended March 31, 2006 (FY 05-06) as compared to Rs1180.30 million for the year ended March 31, 2005 (FY 04-05). Total Income has decreased from Rs 9832.50 million in FY 04-05 to Rs8692.70 million for FY 05-06.

The Board has recommended 50% as final dividend on the paid up share capital. The total dividend for the year 2005-06 works out at 80% of paid up share capital including an interim dividend @ 30%. The above is subject to the approval of shareholders in AGM.

Tata Power announces Q4 & FY 06 results
Tata Power Company Ltd has announced the following audited results for the quarter & year ended March 31, 2006:

The company has posted a net profit after tax of Rs1388.20 million for the quarter ended March 31, 2006 (Q4 FY 05-06) as compared to Rs1705.50 million for the quarter ended March 31, 2005 (Q4 FY 04-05). Total Income has increased from Rs11543.80 million in Q4 FY 04-05 to Rs12465.30 million for Q4 FY 05-06.

The company has posted a net profit after tax of Rs6105.40 million for the year ended March 31, 2006 (FY 05-06) as compared to Rs5513.60 million for the year ended March 31, 2005 (FY 04-05). Total income has increased from Rs43175.70 million in FY 04-05 to Rs48884.00 million for FY 05-06.

The Board of Directors has recommended a dividend at 85% (Rs8.50 per share) to the shareholders for the year ended March 31, 2006.

Consolidated FY 06 results
The company has posted a distributable profit of Rs7073.30 million for the year ended March 31, 2006 (FY 05-06) as compared to Rs5947.00 million for the year ended March 31, 2005 (FY 04-05). Total income has increased from Rs53068.30 million in FY 04-05 to Rs60066.30 million for FY 05-06.

The figures for the year ended March 31, 2005 are audited.

Ramco Systems announces Q4 & FY 06 results
Ramco Systems Ltd has announced the following results for the quarter & year ended March 31, 2006:

The unaudited results are as follows

The company has posted a net loss of Rs38.248 million for the quarter ended March 31, 2006 (Q4 FY 05-06) as compared net loss of Rs300.353 million for the quarter ended March 31, 2005 (Q4 FY 04-05). Total income has increased from Rs349.038 million in Q4 FY 04-05 to Rs351.717 million for Q4 FY 05-06.

The audited results are as follows

The Company has posted a net loss of Rs340.682 million for the year ended March 31, 2006 (FY 05-06) as compared to net loss Rs403.603 million for the year ended March 31, 2005 (FY 04-05). Total income has decreased from Rs1227.817 million in FY 04-05 to Rs1218.008 million for FY 05-06.

The consolidated results are as follows:

The audited consolidated results for the year ended March 31, 2006

The group has posted a net loss of Rs236.647 million (USD 5.37 million) for the year ended March 31, 2006 (FY 05-06) as compared to net loss of Rs679.261 million (USD 15.13 million) for the year ended March 31, 2005 (FY 04-05). Total income has increased from Rs2246.136 million (USD 50.02 million) in FY 04-05 to Rs 2648.645 million (USD 60.08 million) for FY 05-06.

The unaudited Consolidated results for the quarter ended March 31, 2006 (in USD)

The group has posted a net profit of USD 0.58 million for the quarter ended March 31, 2006 (Q4 FY 05-06) as compared to net loss of USD 10.31 million for the quarter ended March 31, 2005 (Q4 FY 04-05). Total Income has increased from USD 13.83 million in Q4 FY 04-05 to USD 17.62 million for Q4 FY 05-06.

The Board of Directors of the Company has not recommended any dividend for the year 2005-2006.

Mahindra & Mahindra announces Q4 & FY 06 results
Mahindra & Mahindra Ltd has announced the following audited results for the quarter & year ended March 31, 2006:

The company has posted a net profit after tax of Rs3211.777 million for the quarter ended March 31, 2006 (Q4 FY 05-06) as compared to Rs1526.655 million for the quarter ended March 31, 2005 (Q4 FY 04-05). Total income (net of excise) has increased from Rs19513.087 million in Q4 FY 04-05 to Rs23026.059 million for Q4 FY 05-06.

The company has posted a net profit after tax of Rs8571.049 million for the year ended March 31, 2006 (FY 05-06) as compared to Rs5126.715 million for the year ended March 31, 2005 (FY 04-05). Total income (net of excise) has increased from Rs67690.543 million in FY 04-05 to Rs83265.394 million for FY 05-06.

The consolidated results are as follows:

The company has posted a balance of profit of Rs14040.082 million for the year ended March 31, 2006 (FY 05-06) as compared to Rs7240.757 million for the year ended March 31, 2005 (FY 04-05). Total income (net of excise) has increased from Rs95655.156 million in FY 04-05 to Rs126484.096 million for FY 05-06.

The board of directors has recommended a dividend at 75% on the enhanced share capital and also a Special Dividend of 25% aggregating to Rs10 per share. The special dividend is being recommended in light of the very successful listing of the MMFSL equity shares on the stock exchange. The dividend, together with the tax thereon, will absorb a sum of Rs 2781.90 million (previous year Rs1719.60 million comprising of a dividend of 100% and a special dividend of 30%) and will be paid to those shareholders whose names stand registered in the books of the company as on the book closure date.
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