Elgi Rubber Company Limited
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BSE Code:
590023
NSE Code:
ELGIRUBBER
Business Profile
Business Profile
Elgi Tread was incorporated on May. 13, 1981 and the Certificate of commencement of Business was obtained on August 4. It was promoted by L. G. Balakrishnan. The company`s office is situated at Coimbatore, Tamil Nadu. The company was formerly known as Elgi Tyre and Trade.
Elgi Tread manufactures procured tyre treads, cushion compounds, cement, envelopes, bonding gum etc. Elgi is one of the world`s largest manufacturers of retreading systems with manufacturing operations spread over 5 countries. It is a single-source supplier of technology and training, retreading equipment, raw material and consumables.
In the year 1983, the Company entered into a technical collaboration with Oliver Rubber Compny,U.S.A. Under this agreement Oliver Rubber Company were to supply toElgi Tread technical information, data, documentation and specification relating to machinery, installation and commissioning of the required plant and machinery and furnish chemical formula or process for the manufacture of licensed articles.
The Company also undertook to set up a project at Kirikera in Andhra Pradesh for the manufacture of the Precured Tyre Treads, Cold Curing Cushion,Cold Curing Cement and Cold Curing Envelopes.
Financials
Elgi Tread (India) registered a 95.57% growth in net profits to Rs 27.38 million for the quarter ended March 2007 from a profit of Rs 14.00 million for the quarter ended March 2006Net Sales rose 13.75% to Rs 383.15 million for the quarter ended March 2007 from Rs 336.83 million for the quarter ended March 2006.Total income rose 14.12% to Rs 390.33 million for the quarter ended March 2007, from Rs 342.02 million for the quarter ended March 2006.The earnings per share (EPS) of the company stood at Rs 0.58 in the quarter ended March 2007 .
Recent Developments
20-AUG-07
Elgi Tread has submitted a copy of the proceedings of the Annual General meeting of the company held on August 11, 2007
27-JAN-07
Elgi Tread has appointed Sri.S.R.Venkatachalam, Chief Finance Officer of the Company as Compliance Officer of the Company with effect from 27.01.2007.