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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (8110)	10/11/1999 7:40:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

CompanyWatch: Sundaram-Clayton,Sales up 54%,net up 57% NSE: RS 280.50 (10/11/99) BSE: RS 290.00 (10/11/99) sundaramclayton.com Sundaram-Clayton Limited is a joint venture between the US$1.6 billion TVS Group and the US$6 billion American Standard Group of companies. The company began its operations in 1962 to manufacture air assisted and air brake actuation systems in technological and financial partnership with Clayton Dewandre Holdings Plc., UK., now WABCO Automotive UK Limited. WABCO Automotive is a part of American Standard Inc., a fortune 500 company. .. ================= Sundaram-Clayton sales jump 54% to Rs 101.73 cr N Madhavan (FE) Chennai, Oct 11: Aided by the revival in the fortunes of the commercial vehicle industry, Sundaram-Clayton Ltd has posted a much improved performance for the first half year ended September 30, 1999. The sales during the period was Rs 101.73 crore compared to Rs 66.17 crore in the first half of the previous fiscal thereby registering a growth of 53.74 per cent. Increased demand on account of better offtake by the commercial vehicle majors, Ashok Leyland and Telco has also shored by the margins which at operating level was 14 per cent compared to 12 per cent in the previous year. The foundry division, during the first half of the current fiscal, has supplied 2,795 mt as against 1,945 mt in the previous first half. Profit at operating level was higher by 72 per cent at Rs 14.29 crore (Rs 8.31 crore during first half of 1998-99). Interest cost was Rs 0.14 crore as against a net interest income of Rs 0.20 crore in the previous period. The company has provided Rs 3.81 crore (Rs 2.60 crore) towards depreciation and Rs 2.96 crore (Rs 1.20 crore) towards tax resulting in a profit after tax of Rs 7.38 crore as against Rs 4.70 crore in the first half of 1998-99, a jump of about 57 per cent.