Keerthi Industries Ltd
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BSE Code:
518011
NSE Code:
KEERTHI
Business Profile
Business Profile
Keerthi Industries (KEERTHI), incorporated on May 17, 1982, is engaged in the manufacture and sale of cement. Earlier known as Suvarna Cements, the company got its present name on Oct. 13, 2005.
Located in the Nalgonda district of Andhra Pradesh, the manufacturing facilities have an installed capacity of 297,000 MTPA cement. In 2006-2007, the company placed an order for a wind power project with Suzlon Energy, who offered to supply and erect a 1,500 KVA project in the Hassan district of Karnataka on turnkey basis. This would enable the company to claim income tax benefits as a result of accelerated depreciation available for the wind power project.
An integrated sugar plant of 3,500 TCD with 26 MW power is being set up in Karnataka. Promoters have purchased 136 acres of land for the purpose and Government of Karnataka has given in-principle approval. Various clearances from different authorities have been obtained and project work is in progress.
The registered office is located at Mellacheruvu (Village & Mandal), Nalgonda-508246, Andhra Pradesh
Financials
Keerthi Industries registered a profit of Rs 228.56 million for the 15 months ended June 2008.
It recorded a net sales of Rs 944.14 million for the 15 months ended June 2008.
Total income was Rs 961.2 million for the 15 months ended June 2008.
The earnings per share of the company stood at Rs 19.38 for the 15 months ended June 2008.
Recent Developments
27-JUN-08
With reference to the Securities Appellate Tribunal Order dated May 01, 2008, the shareholders ratified the allotment of 2 million shares to the promoters at the extra ordinary general meeting of the Company held on Jun. 13, 2008.
30-APR-08
Keerthi Industries has decided to proceed with the amalgamation of Hyderabad Flextech with the company. Accordingly, every 25 shares of Hyderabad Flextech will be swapped for one share of Keerthi Industries. The decision was taken by the board of directors of the company at its meeting held on Apr. 30, 2008.