JMC Projects (India) Limited
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BSE Code:
522263
NSE Code:
JMCPROJECT
Business Profile
Business Profile
JMC Projects (India) (JMCPRO) is one of the leading organizations in the construction industry. Founded in 1986, it was incorporated as a private limited company on Jun. 05, 1986 and converted into a public limited company on Feb. 04, 1994. The company is a subsidiary of Kalpataru Power Transmission (52.27%) and part of the diversified Kalpataru group, which has a presence in property development, civil contracting, consumer goods and services and international trading. Other group companies include Kalpataru Properties, Caprihans India, and Property Solutions (I).
The ISO 9001:2000 certified company is mainly engaged in the construction of industrial and residential buildings and also power and infrastructure development projects. Some of the landmark projects include civil and structural works of 1,200 TPD soda ash plant project near Bhavnagar for Nirma, construction of general civil, structural and architectural works for 228 MW Jegurupadu phase II combined cycle power plant project for GVK Industries; construction of a textile factory for shirting division at village Khatraj near Ahmedabad for Arvind Mills, and construction of three elevated stations at New Delhi for Delhi Metro Rail Corporation.
The company bagged contracts valued at approximately Rs 8,663 million in FY07 including construction of the New Maharashtra Sadan at New Delhi for K.S. Chamankar Enterprises; construction of a warehouse and GDC building for Dr. Reddy`s Laboratories at Hyderabad; and construction of a flyover for Maharashtra State Road Development Corporation at CST Airport Junction, Mumbai to name a few. The more recent contract awards include design and construction of complete civil package for Elecon Engineering at Dadri (NTPC), and civil work at Salarpuria Symphony for Saturn Griha Nirman at Bangalore. With a order backlog of more than Rs 12,000 million at the beginning of FY08, the company is looking to tap the vast opportunities in the construction sector.
The registered office is located at A-104, Shapath-4, Opposite Karnavati Club, S.G. Road, Ahmedabad-380051.
Financials
JMC Projects (India) registered a 82.57% growth in net profit to Rs 90.5 million for the quarter ended December 2007 from a profit of Rs 49.57 million for the quarter ended December 2006.
Net sales rose 72.11% to Rs 2,402.6 million for the quarter ended December 2007 from Rs 1,395.94 million for the quarter ended December 2006.
Total income rose 73.24% to Rs 2,423.3 million for the quarter ended December 2007 from Rs 1,398.78 million for the quarter ended December 2006.
The earnings per share (EPS) of the company stood at Rs 4.99 for the quarter ended December 2007.
Recent Developments
09-OCT-07
The shareholders approved an ordinary resolution for creation of charge, mortgages, and hypothecations on the company`s movable and immovable properties to provide for securities in favor of lenders for an amount of Rs 10,000 million over and above the paid-up capital and free reserves of the company.