BATLIBOI LTD-$
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BSE Code:
522004
NSE Code:
BATLIBOI
Business Profile
Business Profile
Batliboi (BATLIBOI), founded in 1892, is an engineering company which has spearheaded technological change through activities involving textile air engineering, textile machinery, machine tools and air conditioning. It is part of the Rs 5 billion Batliboi Group, which also has interests in environmental engineering, motors, wind energy, international marketing and logistics.
The machine tools group includes three divisions, machine tools, special purpose machines and foundry and an exclusive remanufacturing and reconditioning center. It manufactures and source leading brands from across the world to meet customer requirements in the Indian market. It offers custom-built machines as pre customer requirement. Batliboi International is the export division which handles marketing of a range of products including machine tools.
The air textile engineering group, among the leaders in the Indian textile engineering industry, provides a wide range of world-class equipment and is a leader in textile engineering systems with an extensive sales and service network. The company supplies the latest textile machinery keeping up with technology updates. In air conditioning, the company has system engineering capability to provide complete HVAC solutions while executing turnkey projects across the globe. In early 2008, it acquired manufacturing and marketing capabilities of special purpose machines mainly for the automobile and auto component industry.
From a position of leadership among Indian engineering companies, the company has now established an international presence with the acquisition of Quickmill Inc., a leading manufacturer of large area CNC gantry and bridge milling and drilling machines based in Peterborough, Canada and AESA Air Engineering SA, France, one of the premier global companies in the business of air engineering for textiles, paper and tobacco industries, headquartered in France with subsidiaries in Italy, China, India, Singapore and Hongkong.
The registered office is located at Bharat House, 5th Floor, 104, Bombay Samachar Marg, Fort, Mumbai-400001.
Financials
On a standalone basis, Batliboi registered a 10.31% growth in net profit to Rs 43.56 million for the quarter ended December 2007 from a profit of Rs 39.49 million for the quarter ended December 2006.
Net sales declined 13.6% to Rs 313.05 million for the quarter ended December 2007 from Rs 362.34 million for the quarter ended December 2006.
Total income dipped 8.05% to Rs 340.29 million from Rs 370.09 million for the quarter ended December 2006.
The earnings per share (EPS) of the company stood at Rs 1.61 for the quarter ended December 2007.
On a consolidated basis, the company registered a profit of Rs 41.85 million for the quarter ended December 2007.
It recorded a net sales of Rs 780.76 million for the quarter.
Total income was Rs 821.12 million for the quarter ended December 2007.
The earnings per share of the company stood at Rs 1.77 for the quarter ended December 2007.
Recent Developments
04-MAR-08
Separate meetings of the equity shareholders, secured creditors and unsecured creditors of the Batliboi SPM will be held on Mar. 18, 2008, to consider and approve the scheme of amalgamation of the transferee company Batliboi SPM with the applicant company Batliboi. The arrangement is pursuant to the order directed by the High Court of Judicature of Karnataka, High Court at Bangalore on Feb. 14, 2008.The shareholders at the extra ordinary general meeting (EGM) of Batliboi held on Feb. 2, 2008 had unanimously approved the alteration of authorized share capital, re-classification of 957,520 preference shares of Rs 100 each, into 19,150,400 equity shares, of Rs 5 each. The shareholders also approved the issue of equity shares through a qualified institutions placement to qualified institutional buyers for a sum not exceeding Rs 1 billion.