SAINIK FINANCE & INDUSTRIES LTD
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BSE Code:
530265
NSE Code:
SAINIK
Business Profile
Business Profile
Sainik Finance & Industries (SAINIK) is engaged in the business of manufacturing portland cement. It was incorporated in 1991 and got its present name on Nov. 17, 2000.
The company operates through its two divisions of portland cement and finance. It operates a 200-ton-per-day mini cement plant based on the vertical shaft kiln (VSK) technology in the Rewari district of Haryana. Several steps have been taken to become cost effective, but sales realization per bag remained lower in FY07 due to stiff competition.
The finance division has created a niche for itself in financing loaders, tippers, and other heavy earth-moving equipment in various states across India. It provides loan syndication facilities besides direct funding to maintain its lead and has an excellent track record in collections and recovery. In FY07, a certificate of registration was obtained from the Department of Non Banking Supervision, Reserve Bank of India, New Delhi. It issued non-convertible debentures on a private placement basis to augment resources. These were secured by way of charge on the assets of the company.
The registered office is located at 129, Transport Center, Rohtak Road, Punjabi Bagh, New Delhi-110035.
Recent Developments
30-SEP-06
The board members accorded to the voluntary delisting of the securities of the company from Ahmedabad Stock Exchange, Jaipur Stock Exchange and Delhi Stock Exchange, subject to necessary provisions and approvals.
16-JAN-06
The board of directors of the company decided to purchase the assets block of Sindhu Trade Links valued to be Rs 194,861,136 and decided to allot 10,514,566 equity shares of Rs 10 each fully paid up at a premium of Rs 8.53. The said equity shares after allotment will be listed on the stock exchanges where the equity shares of the company are already listed.