Bombay Paints Limited
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BSE Code:
509475
NSE Code:
Business Profile
Business Profile
Bombay Paints (BOMPAINT), established in 1948, belongs to the Growel Group. It is involved in the manufacture paints, varnishes, enamels, putties, sealing compounds and resins. The company manufactures a wide range of paints based on alkyds, epoxies, polyurethanes, vinyls and acrylic resins which help in reducing corrosion to metallic surfaces. BOMPAINT caters to the requirements of various industries such as petroleum refineries, petrochemical plants, fertilizer plants, shipyards, tractor manufacturers, automobile manufacturers, scooter, motor cycle and moped manufacturers,.etc.
The client list of Bombay Paints includes Mazgaon Dock, Hindustan Shipyard, Rashtriya Chemicals & Fertilisers, Godrej, Shipping Corporation of India, ..etc. The plant is in Chembur, Mumbai. Installed capacity of the company is 7,329 kiloliters of paints, enamels and varnishes and 1,380 MT of oil bound distemper per annum. Sales are conducted with the help of 13 branches in cities like Delhi, Chennai, Calcutta, Hyderabad, Bangalore, Ludhiana and a network of agents, dealers and stockists spread throughout the country. Bombay Paints is headquartered at Mumbai, India.
Financials
Bombay Paints registered a 378% growth in net profits to Rs 4.78 million for the quarter ended September 2007 from a profit of Rs 1.00 million for the quarter ended September 2006.
Net Sales rose 24.01% to Rs 86.4 million for the quarter ended September 2007 from Rs 69.67 million for the quarter ended September 2006.
Total income rose 23.98% to Rs 86.54 million for the quarter ended September 2007 from Rs 69.80 million for the quarter ended September 2006.
The earnings per share (EPS) of the company stood at Rs 3.19 in the quarter ended September 2007.
Recent Developments
17-SEP-07
Bombay Paints informed that in the limited review report of the Company for the quarter ended June 30, 2007, the Auditors of the Company have made the following observations:
The Company was declared a Sick Industrial Company the Board of Industrial and Financial Reconstruction (BIFR) on May 19, 2003. Pending finalization / approval of the scheme of rehabilitation by BIER, the accounts of the Company are prepared on going concern basis.
The Company has not provided interest of Rs 15.86 lacs for the quarter ended June 30, 2007 on unsecured loans from associates."