RESONANCE SPECIALTIES LTD-$
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BSE Code:
524218
NSE Code:
RESONANCE
Business Profile
Business Profile
Resonance Specialties (ARMOURPO), formerly known as Armour Polymers, is a leading manufacturer of pyridines, picolines & cyanopyridines in India. It was incorporated as a private company on Jun. 1, 1989, became a public company with on Mar. 03, 1990, and got its present name on Feb. 7, 2004.
The product list of ARMOURPO includes pyridine, beta-picoline, 3-cyanopyridine gamma picolline, alpha picoline, 2 vinyl pyridine, 3,5 lutidine, chromium picolinate, chromium polynicotinate, dipicolinic acid, isoniconitic acid, methyl nicotinate, picolinic acid, and zinc picolinate. These products find applications in industries like pharmaceuticals, textiles, dye-stuff and agro-chemicals.
The manufacturing unit is located at Tarapur in Maharashtra with installed capacities of 1050 MTPA pyridine/picoline and its derivatives and 540 MTPA cyanopyridine and its derivatives. Resonance Specialties is major exporter for Lutidine to USA and Europe.
The registered office is located at Mumbai, India.
Financials
Armour Polymers registered a steep drop of 95.13% in net profits of Rs 0.23 million for the quarter ended in December 2007 from a profit of Rs 4.72 million for the quarter ended in December 2006.
Net Sales rose 3.52% to Rs 42.66 million for the quarter ended December 2007 from Rs 41.21 million for the quarter ended December 2006.
Total income rose 7.33% to Rs 44.24 million for the quarter ended December 2007 from Rs 41.22 million for the quarter ended December 2006.
The earnings per share (EPS) of the company stood at Rs 0.02 in the quarter ended December 2007.
Recent Developments
30-JAN-08
On Jan. 25, 2008, the shareholders authorized the board to raise funds through instruments convertible into shares upto Rs 500 million.
29-JAN-08
On Jan. 25, 2008, the board of directors approved the following:
- The transfer of 2 million shares from Vertellus to Ushma Investment as inter transfer between the promoters.
- Approval of investment in equity shares in Ushma Technologies for its new SEZ project.