Kolkata based Duncans Industries (DIL) has emerged as a totally tea plantations company after a long six years when it filed its case in BIFR. Now the G P Goenka-controlled company is ready to turn the corner. Production capacity of Duncans Tea is 15 million kg and the company wants increase it substantially.
The company has informed BSE that its sales turnover for Q1 FY13 (ending Jun 12) was Rs 24.79 crore and net loss for tha same quarter was Rs 2.75 crore. Last year in the same quarter the sales turnover was Rs 29.99 crore and net profit was Rs 0.61 crore.
The demerger of the fertilizer division, in keeping with the BIFR scheme, has helped bring down the negative networth from Rs 1,098 crore to Rs 14 crore.
The scheme also contemplates restructuring of its share capital, and infusion of equity funds from the promoters.
In accordance with the sanctioned scheme, the fertilizer disvision was demerged to Kanpur Fertilisers & Cement Limited (KFCL), an equal joint venture with the Jaypee Group and 55,000 fixed deposit holders of the company have also been paid their dues, as per the BIFR rehabilitation scheme.Share’s Data :-
BSE Code : 590063
Mkt. Cap : Rs 53.89 Crores
Duncans Industries Ltd. share’s CMP is Rs 10.13 on 3th Aug 2012.
Stay tuned to Fertilizer News Blog
for more news on Duncans Industries Limited !