MVL Limited
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BSE Code:
532991
NSE Code:
MVL
Business Profile
Business Profile
Jayaswals Neco (JAYSWLNE), part of NECO Group, was incorporated on Nov. 28, 1972 as a private company and became public in 1985. The Company has its registered as well as its controlling office in Nagpur, Maharashtra. JAYSWLNE`s first manufacturing unit for the manufacture of Railway Track materials viz. Sleepers, Brake Blocks, Bearing Plates and other Castings for Indian Railways as well as C.I. Pipes, Fittings, Manhole Covers for Construction Industry was commissioned in 1976 in Nagpur. The second & third manufacturing facilities for the same product range were established in 1987 & 1991 at Bhilai & Anjora in Madhya Pradesh respectively. The principal customers of the Company are the Indian Railways, various municipalities & the construction industry. The current manufacturing capacity of the Company is around 1, 08,000 tonnes per annum.
JAYSWLNE has six divisions: Centri Cast Division, Construction Castings Division, Engineering Castings Division, Automotive Castings Division, Food Products Division and Steel Plant Division mainly located in Madhya Pradesh, Maharashtra and Chhattisgarh. Its Food Production division was established after the acquisition of a solvent extraction plant & refinery in 1992.This division mainly produces Soyabean Refined Oil and De-Oiled Cakes. In the field of Automobile Castings, the Company has tie ups with various automobile manufacturers. The company`s customers include Tech Auto, USA, Mahindra & Mahindra, HMT, Hindustan Motors, Swaraj & Maruti Udyog.
Financials
Jayaswals Neco registered a 641.59% growth in net profits to Rs 158.70 million for the quarter ended in September 2007 from a profit of Rs 21.40 million for the quarter ended in September 2006.
Net Sales rose 18.27% to Rs 3561.60 million for the quarter ended September 2007 from Rs 3011.50 million for the quarter ended September 2006.
Total income rose 20.71% to Rs 3650.70 million for the quarter ended September 2007 from Rs 3024.30 million for the quarter ended September 2006.
The earnings per share (EPS) of the company stood at Rs 1.34 in the quarter ended September 2007.
Recent Developments
05-NOV-07
Jayaswals Neco has approved the change of name of the Company from "Jayaswals Neco" to "Jayaswal Neco Industries".