Hindustan Composites Limited
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BSE Code:
509635
NSE Code:
HINDCOMPOS
Business Profile
Business Profile
Hindustan Composites (HINDCOMPQ), incorporated on Jul. 01, 1964, develops, manufactures and markets asbestos industrial products and friction materials in India. Earlier known as Hindustan Ferodo, it got its present name on Feb. 24, 1995. The company is part of the Rasoi group, which is in the forefront of a globally competitive brand and marketing oriented business with group companies such as Rasoi, Rasoi Express, and J.L. Morrison (India).
The ISO 9002 certified company manufactures friction material like automotive brake and roll linings, automotive clutch facings, automotive disc brake pads, railway brake blocks, friction sheets and industrial roll linings; industrial sealing and insulation products like jointing sheets, packings, asbestos yarns, asbestos cloth, rubber proofed sheets, rubber proofed tapes, asbestos millboard sheets, asbestos millboard discs, compestos and limpet sheets; and recently added asbestos-free heavy duty commercial vehicle and passenger car brake linings, disc brake pads, roll linings and railway brake blocks.
The manufacturing plants of the company are located in Paithan near Aurangabad, Bhandara near Nagpur, and Jalna in Aurangabad. In FY07, a new manufacturing facility to produce asbestos-free heavy commercial vehicle and passenger car brake linings was set up at the company`s Paithan plant. The company caters to the needs of core sector industries like the railways, mining, oil exploration, steel, chemical, aerospace, ship building, and automotive among others. It has a network of 165 exclusive distributors throughout India servicing more than 10,000 outlets. The company`s clientele includes Indian Railways, Indian Oil, Ashok Leyland, SAIL, NTPC, TATA, Hindalco, Mahindra, and Reliance Industries among several others. Products are exported to more than 30 countries including Latin America, Greece, Middle East and Southeast Asia.
The registered office of the company is located at B-11, Paragon Condominium,
Pandurang Budhkar Marg, Worli, Mumbai-400013.
Financials
The company swung to profit for the quarter ended March 2009. During the quarter, the company reported profit of Rs 14.00 million compared with a loss of Rs 2.90 million in the same quarter last year. Net sales for the quarter rose 27.80% to Rs 214.70 million, while total income for the quarter rose 31.35% to Rs 231.70 million, when compared with the prior year period. It posted profit of Rs 2.54 a share during the quarter compared with a loss of Rs 0.54 a share in previous year period.