Aditya Birla Nuvo
Andhra Pradesh ~ India ~ International ~ City ~ Entertainment ~ Business ~ Sports ~ Technology ~ Health ~ Features
2010 Commonwealth Games ~ 2010 Nobel Prizes ~ Sachin Tendulkar ~ Rajasthan Royals ~ Kings XI Punjab ~ Sushil Kumar ~ Deepika Kumari ~ Somdev Devvarman ~ HR Bhardwaj
Home / India News / 2007 / May / May 4, 2007
Aditya Birla Nuvo, An Aditya Birla Group Company Reports Good Performance for the Year Ended March 31, 2007
Aditya Birla Nuvo

Don't Miss Out! Two Weeks Left to Register for the 2010 IR Global Rankings

More Than 170 Companies Already Registered for the 2010 IR Global Rankings

More on Aditya Birla Nuvo

Jan - Mar 07
Quarterly Results

Aditya Birla Nuvo

Anant Raj Industries

Castrol India

Cambridge Technology Enterprises Ltd (CTEL)

Deccan Chronicle Holdings

Genus Power Infrastructures

GHCL

Global Broadcast News

Grasim

HOV Services

Hindustan Construction Company

Hindalco

Idea Cellular

Infosys

Mastek

Mahindra & Mahindra Ltd

NDTV

Patni Computer Systems

Quintegra Solutions

Sasken Communication Technologies

Sify

Syntel

Tanla Solutions

TCS

Triton Corp

UltraTech Cement

Top News

144 Section in Hyderabad ahead of Ayodhya verdict

Manmohan Singh to campaign in Bihar today

FBI failed to act on Headley's wife's terror link expose 3 yrs before Mumbai attacks

Craven's horror flicks 'were inspired by real stories'

RBI will intervene if inflows turn lumpy: Subbarao

Enforcement Directorate issues 'Look Out Circular' against Lalit Modi

Now, laser technology that destroys tumours using heat

Waist size, not BMI can foretell cardiovascular risk in children

Aditya Birla Nuvo, An Aditya Birla Group Company Reports Good Performance for the Year Ended March 31, 2007

Mumbai, Maharashtra, India

Aditya Birla Nuvo has posted good performance for the year ended 31st March 2007

Substantial growth in revenues

The Company's consolidated turnover of Rs. 8258.0 Crores is up by 65% over Rs. 5006.9 Crores achieved in the preceding year. The Company's stand-alone turnover at Rs. 3420.5 Crores grew by 29% vis-a-vis Rs. 2642.0 Crores attained in the preceding year.

Revenues from its subsidiaries and joint ventures, where the company has made substantial investments in the past, saw a phenomenal rise of 105%, from Rs. 2364.9 Crores to Rs. 4837.5 Crores. All the businesses are on high growth trajectory.

-- Telecom business has shown a spectacular growth in revenues from Rs. 2965.5 Crores to Rs. 4366.4 Crores up by 47%, almost doubling the subscriber base. During the year, the Company raised its stake in Idea Cellular from 20.74% to 31.78% (post IPO)

-- In BPO business revenues have soared to 1015.5 Crores with the acquisition of Minacs on 18th August 2006. In the preceding year revenues stood at Rs. 163.3 Crores.

-- Life Insurance has reported a total income of Rs. 1960.0 Crores, up by 24 % with an increase in its distribution reach.

-- Garments business achieved a turnover of Rs. 830.4 Crores vis-a-vis Rs. 620.6 Crores while maintaining its Industry leadership.

Growth in profit across businesses

The Company's consolidated Net Profit of Rs. 281.2 Crores grew by 38% over Rs. 204.1 Crores in the preceding year.

Its Stand-alone net profit at Rs. 225.0 Crores is higher by 20% as against Rs. 186.9 Crores earned preceding year. At the operating level all the businesses have done well. The Company's stand-alone operating profit is up by 36% at Rs. 603.8 Crores. A major rise in interest cost on account of borrowings for the acquisition of a higher stake in Idea has strained profit numbers, which could have been much higher.

The contribution of joint ventures and subsidiaries to Net Profit has been at Rs. 56.3 Crores as against Rs. 17.1 Crores preceding year.

-- Telecom's Net Profit at Rs. 503.3 Crores vis-a-vis Rs. 211.8 Crores earned preceding year is commendable. The growth in profitability is despite launches in three new circles.

-- Life Insurance incurred higher losses due to higher spend on augmenting its sales force and opening new branches to regain the market share.

-- The BPO business bottom line has been impacted by the interest burden on funding its new acquisition, restructuring and accounting readjustment at Minacs, to bring it at par with Indian accounting standards.

-- In the stand alone businesses, Garments and Carbon Black have substantively contributed to the operating profit of the company.

Successful Completion of the Rights Issue

The Company has raised Rs. 777.2 Crores through a rights issue. The equity share capital of the Company has increased from Rs. 83.5 Crores to Rs. 93.3 Crores. The proceeds are / being used for repayment of debt and fresh investments in Idea.

Dividend

The Company had paid an interim dividend of 55% in March 2007 which was treated as the final dividend for the current year as against 50% preceding year. The dividend outgo, including dividend tax, has been at Rs. 58.5 Crores against Rs. 47.6 Crores preceding year.

Standalone Performance

Garments

In branded garments business, fashion brands viz. Louis Philippe, Van Heusen Allen Solly and Espirit saw a healthy growth supported by new launches. The popular brand "Peter England" continued to expand its reach. Innovative merchandise and creative campaigns have resulted in an upsurge in brand equity; further entrenching Madura Garments' leadership status. The division is aggressively expanding its controlled retail space.

Branded Garments business revenues grew, on like to like basis, by 28% to Rs. 670.4 Crores vis-a-vis Rs. 525.7 Crores recorded in the preceding year. Operating Profit, on like to like basis, is up by 33% supported by better channel mix and pricing despite high discount and the dormancy phenomena across the industry.

The contract exports business has been divested into Madura Garment Exports Limited from July 1, 2006. Volumes increased through capacity expansion and revenues grew, on like to like basis, by 58% to Rs. 173.2 Crores. A new facility to manufacture shirts is slated to be completed by August'07, which will give a fillip to the Contract Exports business

Rayon Division

VFY segment recorded sales volumes at 17,039 tonnes against 17,380 tonnes in the preceding year. Aided by a 13% increase in realisation rates, revenues stepped up by 11% to Rs. 288.6 Crores as against Rs. 260.4 Crores in the preceding year.

In Chlor-alkali segment, ECU realisation remained flat but the volumes rose by 18% backed by expanded caustic soda capacity. This resulted in a 22% growth in revenues at 152.8 Crores as against Rs. 125.2 Crores in the preceding year.

Carbon Black Division

Capitalizing on the vibrant auto sector growth Carbon Black Division continues to show a robust performance. Sales volumes stood at 180893 tons, the highest ever recorded in a year. Realisation is up by 27% on account of high CBFS prices and optimized product, market and logistics mix. Revenues at Rs. 738.9 Crores extended by 31% vis-a-vis Rs. 564.2 Crores attained in the preceding year. Operating profits are higher by 43% at Rs.132.2 Cores.

Textiles Division

Textiles Division's revenues have gone up by 18% to Rs. 625.0 Crores as against Rs. 527.7 Crores in the preceding year. Operating Profits increased by 19% at Rs. 67.4 Crores despite downsizing in the Synthetic segment which is being phased out. Linen fabric volumes remained flat. Linen yarn witnessed increase in volumes and the Wool segment outperformed with higher volumes and realizations.

Fertilisers Division

Increased operational efficiencies coupled with the rising demand for urea, aided the Fertiliser division's production and sales to reach highest levels at 10.28 lacs MT and 10.44 lacs MT respectively for the year ended 31st March 2007. Its net turnover stood at Rs. 778.5 Crores, while operating profits have been impressive at Rs. 129.6 Crores. The stringent pricing policy norms announced on 8th March 2007 (with retrospective effect from 1st October 2006) have affected the profits for second half year.

Insulators Business

Insulators business has reported revenues of Rs. 289.5 Crores vis-a-vis Rs. 362.5 Crores attained in the preceding year. Revenues have been affected by an illegal strike at the Halol plant for major part of the year. After amicable settlement with the workers in December 2006, the working of the plant is normalised now at improved efficiency, the full benefit of which of will be reflected in financial year 2007-08. The business has reported a higher operating profit at Rs.54.3 Crores as against Rs. 44.0 Crores in the preceding year, supported by improved realizations and a strong demand for Insulators.

Other Joint Ventures and Subsidiaries

In telecom business, IDEA Cellular's subscriber base at 14.01 million doubled over preceding year, recording an 8.63% market share. Revenues for the year showed an impressive jump of 47% at Rs. 4366.4 Crores. The Company posted a healthy rise in profits despite the gestation period for the three newly rolled out circles putting pressure on EBITDA margins. Idea strengthened its balance sheet by raising Rs. 2819 Crores through an IPO & Pre- IPO placement. Post IPO, Nuvo's share in Idea has diluted to 31.78%. The Mumbai and Bihar circles are expected to be operational by Januray'08.

In Life Insurance business at Birla Sun Life Insurance, the total premium income grew by 41% to Rs. 1735.2 Crores. The Individual business annualised premium grew by 41% at Rs. 1575.0 Crores. The Company is focusing on expanding its distribution reach; today it has 137 branches as against 85 in the preceding year and the direct sales force has increased to 56603 from 17986 in preceding year. As a result of these long-term investments, Net loss has increased to Rs. 139.7 Crores from Rs. 61.1 Crores in the preceding year.

In the Asset Management business at Birla Sun Asset Management Company, Assets Under Management (AUM) stood at Rs. 20849 Crores with 5.8% market share. Business reported revenues at Rs. 81.9 Crores and net profits at Rs. 14.3 Crores.

In BPO business, at TransWorks, revenues rose by 21% to Rs. 197.2 Crores supported by the improved share of non-voice business. Minacs reported revenues at Rs. 818.4 Crores for the period from18th August 2006, the date of its acquisition to 31st March 2007. The Profits of Minacs have been affected by unusual items like one time restructuring cost and accounting readjustment expenses. In Philippines, Manila centre went live in March 2007.

On a combined basis the BPO business has 21 delivery centres in 7 countries across 3 continents. With global client base including 15 Fortune 500 companies; the business supports customers in 30 different languages. It has over 11000 employees worldwide. The BPO business now has a global delivery model with integrated management and marketing structure.

In software business at PSI Data Systems, Revenues stood at Rs. 93.6 Crores with a positive bottom line. The Company has ramped up its sales team and net staff strength is up from 573 to 684 during the year. The Company has added 20 marquee clients while focusing on core verticals viz. Corporate Banking & High Tech.

Merger of Aditya Birla Insulators Limited

The Board of Directors of the Company, at its meeting held on 3rd May, 2007, have approved, subject to requisite approvals, merger of Aditya Birla Insulators Limited (ABIL), a wholly owned subsidiary of the Company, with the Company with effect from 1st April, 2007 through a Scheme of Amalgamation (Scheme), u/s 391 to 394 of the Companies Act, 1956. On the Scheme coming into effect, the business of ABIL will be transferred to the Company on going concern basis.

Growth Initiatives

-- Madura Garment will aggressively pursue retailing of Lifestyle and Popular brands by expanding its reach with bigger size stores besides creating specialized outlets.

-- Carbon Black's brown-field expansion of 60,000 TPA is targeted by the end of June 07. Land acquisition for 1,20,000 TPA green-field project in Western India is being accelerated.

-- Fertilisers will focus on de-bottlenecking to increase capacity

-- Textiles will increase its capacity in linen fabrics and flax yarns.

-- Insulator is expanding its capacity and investing for yield improvement

-- Birla Sun Life insurance's emphasis is on regaining its market position of being amongst the top three, increasing the branch network, strengthening its agency force and launching contemporary products.

-- AMC and Distribution have aggressive branch opening plans as well.

-- The BPO business is working on a global delivery model with an additional share of KPO business.

-- Telecom will strengthen and expand its network in existing circles and better its reach through a roll out in Mumbai and Bihar circles. Plans for acquiring licences in the remaining circles are underway. National Long Distance roll out is being worked upon.

Investments in various businesses are happening in their growth phases which seem to be coinciding. Aditya Birla Nuvo is very optimistic about coping with the challenges of strategic and growth initiatives and stretching out in the short term.

To view the press release along with the tables, please click on the link given below:

Press Release with tables

pragnyaram@adityabirla.com

Source: Aditya Birla Group (Business Wire India)

Press release presented here is sourced from the Source mentioned above and is provided on as-is basis. Please contact the Company / Source directly for any further information in regard to this release. This website will be unable to assist you in regard to the accuracy or correctness of information in this release.

India News / Press Releases on May 4, 2007

You can filter News by Source: All News, from ANI or from BWI

Seven injured in Assam blast
At least seven persons, all of them Hindi-speaking, were injured in a car bomb explosion triggered by the banned United Liberation Front of Asom (ULFA) here on Friday. ANI

All India Minorities Front alleges violation of model code of conduct
The All India Minorities Front today alleged that the model code of conduct is being violated by political parties with impunity in Gorakahpur where the last phase of UP elections will be held on May 8. ANI

Nuke deal with US is for Indias sustainable and secure energy need: Pranab
Reaffirming UPA Governments commitment to the Indo-US civilian nuclear energy cooperation, External Affairs Minister Pranab Mukherjee today said here that the core aim behind the deal is to have a secure and sustainable energy sources for ensuring countrys high economic growth rates. ANI

Violence haunts Nandigram victims at relief camps
Violence continues to haunt the victims of Nandigram, with the miscreants attacking them even in relief camps. ANI

Rahul slams opposition parties of partisan attitude
Congress Party MP from Amethi Rahul Gandhi today accused parties like Samajwadi Party, BJP and BSP for having partisan attitude towards people. ANI

Seven medics charged for deaths of 38 newborns in Kerala hospital
The Kerala Police on Friday registered a case against seven medical professionals in connection with the deaths of 38 newborns at state-run Sree Avittam Tirunal (SAT) Hospital here. ANI

Varanasi school celebrates Watermelon Day
A school in Varanasi organised Watermelon Day on Friday to promote consumption of the fruit and wean students away from junk food and aerated drinks. ANI

Consultative Committee discusses draft of criminal justice system
A meeting of the Parliamentary Consultative Committee of the Ministry of Home Affairs was held here today to discuss issues relating to the Draft National Policy on Criminal Justice. ANI

Army voices opposition to troops withdrawal from Kashmir
The General Commanding-in-Chief (GOC) of 15 Corps Lt Gen A S Sekhon today said that the issue of demilitarisation should not be taken with emotions, and any decision on it should be arrived only after carrying out proper research. ANI

Names surface of more Parliament members linked to human trafficking case
Human trafficking kingpin Rasheed, who had surrendered on Thursday, has reportedly named several politicians in the scam during his interrogation. ANI

No security breach at airports, says Centre(Lead: Air port)
The Government today clarified that there has been no breach of security at the airports of the country. ANI

Mercury soars in Gujarat during wedding season
Gujarat is reeling under heat wave, like several parts in the north and west of the country. ANI

US senators letter to PM, Sethu Samudram project rock Parliament
The Parliament today witnessed noisy scenes with the opposition members in both the Houses protesting against the Government on two different issues -US senators letter to Prime Minister on ties with Iran and the Sethu Samudram project. ANI

Manipur Assembly by polls on June 2
The elections to the Khongbok and Khundrakpam assembly constituencies in Manipur will be held on June 2. ANI

Gujarat Fake encounter net widens, Pathans kin to move Supreme Court
In yet another instance of an alleged fake encounter killing by the Gujarat Police, kin of Samir Khan Pathan are all set to move the Supreme Court for a detailed probe to unravel the truth. ANI

You voted for Mulayam, he cheated you: Rahul Gandhi
Coming down heavily on the Uttar Pradesh Government and accusing Chief Minister Mulayam Singh Yadav of indulging in mere power game, Amethi Congress MP Rahul Gandhi today said that Yadav had breached the trust of the people. ANI

Supreme Court says no to increase compensation to Bhopal victims
The Supreme Court on Friday ruled out the five-time compensation for the 1984 Bhopal gas victims, as put forth by several NGOs through petitions filed in the apex court. ANI

Praful Patel to flag off inaugural Surat-Delhi flight
Civil Aviation Minister Praful Patel shall receive the inaugural flight of the national carrier Indian from Delhi to Surat in Gujarat on May 6. ANI

Parliamentary Committee on Civil Aviation meets
The Parliamentary Consultative Committee for the Ministry of Civil Aviation met here today and expressed concern about the reported security breach at airports. ANI

Orissa villagers fear losing homes to soil erosion
Several families in a small hamlet along the Bay of Bengal coast in Orissa are living in constant fear of their homes being wiped out soon due to massive soil erosion. ANI

Army recovers IED, averts major tragedy in Tinsukia
The Indian Army today averted a major tragedy by timely detecting an Improvised Explosive Device (IED), which was placed at Chikajan in Tinsukia to target a military patrol team by the rebel United liberation Front of Asom (ULFA). ANI

Abandoned plane disrupts traffic in Mumbai suburb
An abandoned Boeing 737 in a busy suburb of Mumbai has been blocking traffic for the last five days with no effort by authorities to remove the plane. ANI

Two BSP workers nabbed at Rahul Gandhis hotel in UP
Two Bahujan Samaj Party (BSP) workers, carrying firearms, were arrested from a hotel in Faizabad where Congress MP and Nehru-Gandhi scion Rahul Gandhi was staying. ANI

Swedish Foreign Minister meets PM
Swedish Foreign Minister Carl Bildt met Prime Minister Dr. Manmohan Singh here today and discussed several bilateral and international issues of mutual interest to both countries. ANI

Nepali Congress district presidents meet begins
A meeting of the district presidents of the Nepali Congress (NC), which is expected to advise the central leadership on key political issues, began at Lalitpur on Friday morning. ANI

Jamia Millia Islamia honours Arjun Singh
Finally, Human Resource Development Minister Arjun Singh has a reason to smile as Jamia Millia Islamia (JMI) will open a building and a road in his name this evening. ANI

When a sister marries her sister-in-law in Vadodara
A tribal community of Gujarat has a unique wedding tradition that requires an unmarried sister to act as a bridegroom by replacing her brother during the marriage ceremony. ANI

Indore scrap collector collects old newspapers in his car!
We are all familiar with the local Raddiwallah (or scrap collector) visiting colonies shouting for old newspapers on a bicycle. He doesnt enjoy any special status in society, but Indores Gopal Sharma is a Raddiwallah with a difference. ANI

Police lodge FIR against Kerala Health Minister
The Kerala Police today registered a First Information Report (FIR) against Health Minister PK Sreemathi. ANI

Now, Jaipur dolls for American children with love
An exporter in Jaipur is supplying traditional dolls for cancer-affected and destitute children in the United States. ANI

NAFED procuring wheat from Pak at Rs.100 above MSP
The National Agricultural Marketing Cooperative Federation of India Limited (NAFED) has already submited a buying contract with Pakistan wheat exporters at the rate of around Rs.950, which is 100 rupees more than the Centres Minimum Support Price (MSP) of wheat. ANI

500-km-long cross-country cycle rally flagged off in Tripura
A cross-country cycle rally was flagged off on Friday with the aim of motivating youths to take up country-building activities. ANI

Kalam to present Nirmal Gram Puraskar awards
President A P J Abdul Kalam will distribute the third Nirmal Gram Puraskar (NGP) awards to selected Panchayati Raj Institutions (PRIs) functionaries here this evening. ANI

Six people killed in Kathua during land encroachment clash with police
At least six persons were injured in Jammu and Kashmirs Kathua District, as police baton charged tribesmen who had reportedly encroached upon government land. ANI

Jalandhar students win NASAs annual space settlement contest
Jalandhars Apeejay School has done the country proud by winning the National Aeronautics and Space Administrations (NASA) annual space settlement contest. ANI

Firozabad villagers re-enact Holi to atone for earlier blasphemy
It is three months since people celebrated Holi, the festival of colours, but residents of Uttar Pradeshs Firozabad District have decided to celebrate Holi to atone for an act construed as blasphemy by conservative in the area. ANI

Mumbai protests as Gujarat denies right of way for Dahej-Uran gas pipeline
Hundreds of people from various social and political fora have hit the streets of Mumbai to protest Gujarats refusal to allow the Dahej-Uran gas pipeline to pass through its territory. ANI

Pakistan seeks level playing field for better trade ties with India
Pakistans High Commissioner to India, Shahid Malik, has called upon New Delhi to revise its tariff and non-tariff structure and create a level playing field for bettering bilateral trade. ANI

Hindalco Industries Ltd Record Annual Revenues at Rs. 18,313.0 Crores
Hindalco Industries Ltd, the flagship Company of the Aditya Birla Group has reported a sterling performance for the Quarter ending March 31, 2007. Net sales at Rs. 4748.9 Crores is up by 30% over Q4 of FY06 (Rs. 3657.4 Crores). Profit before Tax rose by 20% and Profit after Tax increased by 15% vis-a-vis Q4 of FY06. Business Wire India

Aditya Birla Nuvo, An Aditya Birla Group Company Reports Good Performance for the Year Ended March 31, 2007
The Company's consolidated turnover of Rs. 8258.0 Crores is up by 65% over Rs. 5006.9 Crores achieved in the preceding year. The Company's stand-alone turnover at Rs. 3420.5 Crores grew by 29% vis-a-vis Rs. 2642.0 Crores attained in the preceding year. Business Wire India

Paris EUROPLACE Mumbai Financial Forum Offers a Platform for Dialogue between the European and Indian Financial Community
Business Wire India

Importance of 'Driver Control' Encourages Penetration of AMTs and DCTs in the European Market
Business Wire India

Also see International News / Press Releases on May 4, 2007

Suggested pages for your additional reading
AndhraNews.net on Facebook






© 2000-2017 AndhraNews.net. All Rights Reserved and are of their respective owners.
Disclaimer, Terms of Service & Privacy Policy | Contact Us