Dagger-Forst Tools Limited
Add to watch list to get report alerts
BSE Code:
505426
NSE Code:
DAGERFORST
Business Profile
Business Profile
Dagger Forst Tools (DAGRFROQ) is engaged in the manufacture of high precision cutting tools. It was incorporated by Ashok Birla in the year 1965 as a pioneer broach manufacturing company and is now a part of the Yashovardhan Birla Group. The chairman of the company is Yashovardhan Birla, and the executive director is G.L. Lath.
The company today is a complete tooling solution provider for the automobile, defence, power and aerospace sectors. The company manufactures broaches, hobs, shaper cutters, shaving cutters, master gears, spline gauges and mandrels, and H.S.S. metal-cutting circular splitting saws.
The company has four plants. The plant in Thane (Maharashtra) manufactures broaches; two plants at Aurangabad (Maharashtra), one manufacturing broaches and gauges and the other gear cutting tools; a new plant at Gandhidham (Gujarat) for the manufacture of broaches, gear hobs, shaving cutters etc. The company entered into technical collaboration with Oswald Forst GmbH (Germany), W. Forst Engineers (UK), Klingelnberg Sohne (Germany), and Samputensili S.p.a (Italy). Three manufacturing units are ISO certified.
The client list includes automobile giants like Maruti Udyog, Mahindra & Mahindra, Tata Motors, Hyundai Motors, Toyota, Honda, Bajaj Auto etc.; defence and government units like Government Vehicle Factory, MTPF, and Nuclear Power Corporation; heavy vehicle factory undertakings like Avadi; Ordinance Factory, BHEL etc; railways, DCW and DLW. The company exports to Germany, UK, Italy, South Korea, Taiwan, Australia, etc. Major customers are General Electric, Graziono, Forst Tech, Hyundai etc.
The registered office is at First Pokhran Road Thane-400606 and corporate office at 1st Floor, Dalamal House, Nariman Point, Mumbai - 400021.
Financials
Dagger Forst Tools registered a 399.21% growth in net profit to Rs 6.34 million for the quarter ended June 2007 from a profit of Rs 1.27 million for the quarter ended June 2006.
Net sales rose 20.10% to Rs 96.73 million for the quarter ended June 2007 from Rs 80.54 million for the quarter ended June 2006.
Total income rose 29.26% to Rs 106.47 million for the quarter ended June 2007 from Rs 82.37 million for the quarter ended June 2006.
The earnings per share (EPS) of the company stood at Rs 1.36 for the quarter ended June 2007.
Recent Developments
22-AUG-07
Dagger Forst Tools has come out with a composite (rights and public) issue of 7,331,104 equity shares of Rs 10 each, aggregating Rs 290 million. The details are as follows:A rights issue of 3,324,954 equity shares of Rs 10 each for cash at a premium of Rs 23 a share aggregating Rs 109,723,000 will be to existing equity shareholders in the ratio of five for every seven shares held as on Jul. 6, 2007. The rights issue opened for subscription on Aug. 6, 2007 and will close on Sep. 5, 2007.A public issue of 4,006,150 equity shares of Rs 10 each for cash at Rs 45 an equity share inclusive of premium, aggregating Rs 180,277,000, including promoters` contribution of 400,000 equity shares for cash at Rs 45 an equity share aggregating Rs 18,000,000.The net offer to the public is 3,606,150 equity shares for cash at Rs 45, totaling Rs 162,277,000. The public issue constitutes 30.09% of the post issue paid-up capital of the company. The public issue will be open between Aug. 27, 2007 and Sep. 3, 2007.
Future Plans
The company will set up a new plant for providing the machining facility of castings in Aurangabad.