Delta Corp Limited
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BSE Code:
532848
NSE Code:
DELTACORP*
Business Profile
Business Profile
Arrow Webtex (ARROWEBTX) is engaged in the business of manufacturing narrow woven fabrics, real estate consultancy and development and dealing in properties. Originally incorporated as a private limited company on Nov. 5, 1990, it was deemed a public limited company on Jun. 2, 1992 and got its current name on May 18, 2007. The non-executive chairman (principal promoter) of the company is Jaydev Mody and Chand V. Arora, the managing director.
The company leases commercial office space with focus on prime properties which can attract corporate tenants. As of Apr. 9, 2007, the company directly owned about 133,000 sq. ft. of property in Mumbai given on leave and license basis to corporate tenants. It is to diversify into other segments of real estate consultancy including leasing of commercial and residential properties.
In specialty textiles, the company manufactures products like underwear namely waistband elastic, woven inner elastics for garments, printed woven elastics, woven tapes, fabric printed labels, woven labels, 100% cotton twill tapes etc. It has an installed capacity of 18 woven label looms, 7 printed label machines and 59 woven tapes looms. The company was awarded ISO 9001 from BVQI for the textile division. The company has depots in Bangalore, Mumbai, Delhi and Tiruppur and also markets through an agent in Kolkata. It also procures overseas and domestic orders through its website. Subsidiaries include Fasttrack Impex, Aryanish Finance and Investment and Highstreet Cruises and Entertainment.
The registered office and works are at G-4, Ground Floor, Clover Classic, North Main Road, Koregaon Park, Pune-411001 and corporate office is at 16/A, Ali Chambers, 2nd Floor, Nagindas Master Road, Fort, Mumbai-400001.
Financials
The company registered a profit of Rs 48.33 million for the quarter ended June 2007.
It recorded a net sales of Rs 112.66 million for the quarter.
Total income was Rs 112.75 million for the quarter ended June 2007.
The earnings per share of the company stood at Rs 4.6 for the quarter ended June 2007.
Recent Developments
04-FEB-08
Arrow Webtex entered into a joint venture (JV) to develop real east projects in East Africa. The amount of aggregate investment is proposed to be Rs 3 billion. The joint venture will have a sharing pattern of 40:60, the company holding 40% in the joint venture company.
28-DEC-07
Arrow Webtex said that its subsidiary, Highstreet Cruises and Entertainment, purchased 100% equity of Victor Hotels and Motels.
Future Plans
In Apr. 2006, the company had intimated the stock exchange that it started budget hotel business through its subsidiaries Fasttrack Impex and Sailent Resorts.