Binani Industries Limited
Add to watch list to get report alerts
BSE Code:
500059
NSE Code:
BINANIIND
Business Profile
Business Profile
Binani Industries (BINANIZINC) and its subsidiaries are into the manufacture of cement, zinc, glass fiber and sheet molding compound. The company was incorporated on Aug. 2, 1962 as Cominco Binani Zinc formed with technical and financial cooperation from Cominco, Canada. The company is presently the holding company of the group. The chairman of the company is Braj Binani and Sushil Bhatter is the chief executive officer.
The company has undergone a thorough re-structuring process. All the three divisions of zinc, cement and glass fiber have been gradually hived off as wholly-owned subsidiaries. Now, subsidiaries include Binani Cement (BCL), Binani Zinc (BZL), Goa Glass Fiber (GGFL), BT Composites (BTCL) and Binani Mazak.
The company offers zinc metal and byproducts including cadmium and sulphuric acid. In fiscal 2007, BZL produced 32,624 MT of zinc ingots. It also diversified into alloy manufacturing producing 71.82 MT of alloy in fiscal 2007. The company offers glass fiber products comprising chopped strands in emulsion and powder, and assembled rovings, ..etc. In fiscal 2007, GGFL produced 11,377 MT of glass fiber. The company offers grade 43 and grade 53, and portland pozzolana cement. In fiscal 2007, BCL produced 2.428 million MT and sold 2.406 million MT of cement. Recently, it raised its plant capacity at the plant in Sirohi, Rajasthan from 2.25 MTPA to 5.3 MTPA at a cost of Rs 5.75 billion. The company offers low pressure molding compounds used in the production of sectional panel tanks. BTCL manufactures products mainly for the construction and power sectors.
The registered office is at 706, Om Tower. 32, Chowringhee Road. Kolkata, West Bengal-700071 and corporate office is at Mercantile Chambers 12, J.N. Heredia Marg Ballard Estate, Mumbai-400001.
Financials
The company registered a profit of Rs 734.7 million for the quarter ended June 2007.
It recorded a net sales of Rs 3458.5 million for the quarter.
Total income was Rs 3806.8 million for the quarter ended June 2007.
The earnings per share of the company stood at Rs 18.87 for the quarter ended June 2007.
Future Plans
BCL files a draft red herring prospectus (DRHP) in connection with the public offer of 20,500,000 equity shares of Rs 10 each of BCL through an `Offer for Sale` by JP Morgan Special Situations (Mauritius) Nov. 10, 2006.