ASI Industries Ltd
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BSE Code:
502015
NSE Code:
ASIIL
Business Profile
Business Profile
Associated Stone Industries (Kotah) (ASSOSTNB), incorporated in 1945, is a Mumbai-based company engaged in the production of a variety of stone products. The company offerings include a wide range of stones like kota stone, stone cobbles, sandstone, slate, granite, limestone, stone furniture, stone artifacts, and garden accessories, such as fountains, pots, bench, chair, stands, and pathways. ASSOSTNB business segments include the mining and spinning divisions. The factory for its mining works is located in Ramganjmandi, district Kota, Rajasthan. ASSOSTNB has installed 55 stone polishing and repolishing machines, 20 stone edge cutting machines and 5 splitting machines. The spinning unit, a 100% EOU, is located in Neemrana, district Alwar, Rajasthan. It has a installed capacity of 24,960 spindles.
Financials
Associated Stone Industries (Kotah) swung to a loss for the quarter ended in September 2007.
Net Sales declined 64.17% to Rs 122.05 million for the quarter ended September 2007 from Rs 340.62 million for the quarter ended September 2006.
Total income dipped 64.05% to Rs 122.66 million for the quarter ended September 2007 from Rs 341.19 million for the quarter ended September 2006.
The losses per share (LPS) of the company stood at Rs 2.05 in the quarter ended September 2007.
Recent Developments
18-JUN-07
The shareholders via postal ballot approved the shifting of the registered office of the company from Neemrana, district Alwar to Ramganjmandi, district Kota within the state of Rajasthan.
21-FEB-07
1. On February 21, 2007, the board of directors recorded the Rajasthan High Court orders regarding the scheme of arrangement between the company and Vast Textiles for the demerger of the textile unit viz. Prerna Jatia (unit of the company).
2. Further they decided to issue and allot one equity share in the resulting company of Rs 10 each credited as fully paid up for every one equity share of Rs 10 each fully paid held by shareholders in the demerged company and one equity share of Rs 10 each credited as fully paid in the resulting company for four equity shares of Rs 10 each, Rs 2.50 per share paid up, held by shareholders in the demerged Company.