Anant Raj Industries Limited
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BSE Code:
515055
NSE Code:
ANANTRAJ
Business Profile
Business Profile
Incorporated in 1985, Anant Raj Industries (ANANTRAJ) is promoted by Ashok Sarin. The company manufactures and markets ceramic tiles under the brand name `Romano`. The company was declared a sick unit in November 1999 and referred to BIFR. IDBI was appointed the operating agency to initiate a rehabilitation scheme. The package was prepared and implemented under IDBI`s supervision in October 2005. Now infused with a fresh lease of life, the company along with its basic tile manufacturing business has planned a strategic forward integration by diversification into real estate development and construction of buildings. It would explore opportunities for construction of buildings, motels, hotels, residential apartments and development of land for residential and commercial use. Besides, the company plans to achieve an economic scale of production in ceramic tiles manufacturing.
The company (with KLG Systems as an anchor unit) has, along with eleven others, been allotted part of Haryana State Industrial Development Corporation (HSIDC) project for development of the Technology Park at Manesar. Its board of directors has also approved the acquisition of Green Retreat & Motels, a real estate and hospitality company. The company will purchase the entire share capital from Green Retreat`s existing shareholders shortly. The cost of acquiring the equity share capital is Rs 1,096 million approximately. The company has also decided to sell off about 36,014 sq.m of land owned by it in Mathura, Uttar Pradesh. The aggregate sale consideration, which also includes a building, is Rs 189 million.
Financials
Anant Raj Industries registered a 267.39% growth in net profit to Rs 735.41 million for the quarter ended June 2007 from a profit of Rs 200.17 million for the quarter ended June 2006.
Net sales for the quarter increased 11.93 times to Rs 1042.71 million for the quarter ended June 2007 from Rs 87.42 million for the quarter ended June 2006.
Total income rose 173.80% to Rs 1067.23 million for the quarter ended June 2007 from Rs 389.79 million for the quarter ended June 2006.
The earnings per share (EPS) of the company stood at Rs 19.33 for the quarter ended June 2007.
Recent Developments
25-MAY-07
On May 25, 2007, after receiving the entire money in a separate account, the board of directors has allotted 5,560,222 fully paid equity shares of Rs 10 each at a premium of Rs 1219.51 per share at a total price of Rs 1229.51 per share on preferential basis to the following:1. Government of Singapore Investment Corporation in three respective sub accounts:-i. Government of Singapore - 3,151,128 sharesii. Monetary Authority of Singapore - 321,070 sharesiii. Monetary Authority of Singapore B - 42,124 shares2. Morgan Stanley Dean Witter Mauritius Company - 1,365,900 shares3. Quantum (M) - 680,000 shares.
18-JAN-07
On January 18, 2007, the board approved and adopted the scheme of arrangement among the group companies. As per the scheme the construction and development business of Anant Raj Agencies will he demerged and be merged with the company along with West Land Buildtech, Victor Promoters, Sunrise Buildtech, Springdales Estates, Rockfield Buildtech, Parkland Promoters, Northland Estates, Mayur Buildtech, Jasmine Promoters, Greenwood Promoters, and Anant Raj Exports, subject to necessary provisions and approvals.