Maharashtra Polybutenes Limited
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BSE Code:
524232
NSE Code:
Business Profile
Business Profile
Maharashtra Polybutenes (MAHAPOL), incorporated on Sep. 23, 1988, is engaged in the business of manufacturing and marketing polybutenes. Earlier known as Herdillia Polymers, it got its present name on Apr. 07, 1998. The management has changed hands with Sunciti Financial Services (SFSPL) and associates having invested in the company. Shubh Shanti Services, Gujrat Carbon & Industries, NRC, and Oxides & Specialities are associate companies.
Manufactured and marketed under the brand name Hermavis, polybutenes are produced at the company`s Navi Mumbai manufacturing facility in Maharashtra. The unit can produce upto 9,000 MTPA polybutenes of various grades. Hermavis finds application in lubricants, viscosity improvers, oil and fuel additives, gear and hydraulic oils, packaging films, seals for plant grafts, insect traps, plastic and leather modifications and adhesives.
Under the purview of the Board for Industrial and Financial Reconstruction (BIFR) since April 2004, a rehabilitation scheme was sanctioned by the BIFR vide its order dated May 11, 2004. The company has since commenced commercial operations since September 2006. Influx of fresh capital from SFSPL and associates has improved the working capital position. Efforts are being made to increase marketing arrangements with Lubrizol India, Hindustan Petroleum Corporation and other big players in the industry. Further, the export market is being explored.
The registered office of the company is located at R-802, TTC Industrial Area, Thane-Belapur Road, Mumbai-400701.
Financials
Maharashtra Polybutenes registered a profit of Rs 0.74 million for the quarter ended June 2008.
Net sales declined 11.08% to Rs 94.97 million for the quarter ended June 2008 from Rs 106.8 million for the quarter ended June 2007.
Total income dipped 11.04% to Rs 95.03 million from Rs 106.82 million for the quarter ended June 2007.
The earnings per share (EPS) of the company stood at Rs 0.05 for the quarter ended June 2008.
Recent Developments
18-JUL-08
Pursuant to the BIFR order, the board of directors at its meeting held on Jul. 15, 2008 considered and approved the allotment equity shares of Rs 10 each amounting to Rs 147,700,000 at par to the incoming promoters, their associates and others.