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Gujarat Ambuja announces unaudited financial results
02 Oct '07
2 min read
Leading cotton yarn manufacturers Gujarat Ambuja Exports Ltd announced unaudited financial results for the quarter ended 30th June 2007.
The above results are taken on record by the Board at its Meeting on 28th July,2007 and are reviewed by the Statutory Auditors as per their limited Review Report.
The Company's project of Maize Processing at Uttaranchal is expected to commence the trial runs in August, 2007 and commercial production by end of September, 2007. The total project cost is Rs. 65Crores, which is metwith by internal accruals only.
Last year, the Company had commenced setting up of 31000 spindles mill at Himmatnagar. Since April, 2007 the yarn export market, rupee appreciation, reconsideration of TUFS policy by the Govt have been adversely affecting the viability of the said project.
The Board meeting at its meeting on 28th July, 2007 decided to keep the project in abeyance in view of the above scenario.
The Board recommended dividend of 18% p.a. For F.Y. 2006-07, subject to approval of members at the ensuing 16th Annual General Meeting to be held on 25.09.2007, as against 12% p.a. Paid for previous F.Y. 2005-06.
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Gujarat Ambuja Exports Ltd (Cotton Yarn Division) is one of the leading cotton yarn manufacturers in India producing cotton yarn in the counts Ne 16 to Ne 40, both single and double. The cotton yarn conforms to the highest standards with respect to Uster evenness, neps and Classimat faults.
The machinery used for producing this cotton yarn is most modern with auto-coners, auto-leveller draw frames and new generation cards.
Performance of the yarn during warping, weaving / knitting are of paramount importance and care is taken in achieving industry best performance at this end. Product is checked and re-checked at every stage to ensure fault-free product performance.
The above results are taken on record by the Board at its Meeting on 28th July,2007 and are reviewed by the Statutory Auditors as per their limited Review Report.
The Company's project of Maize Processing at Uttaranchal is expected to commence the trial runs in August, 2007 and commercial production by end of September, 2007. The total project cost is Rs. 65Crores, which is metwith by internal accruals only.
Last year, the Company had commenced setting up of 31000 spindles mill at Himmatnagar. Since April, 2007 the yarn export market, rupee appreciation, reconsideration of TUFS policy by the Govt have been adversely affecting the viability of the said project.
The Board meeting at its meeting on 28th July, 2007 decided to keep the project in abeyance in view of the above scenario.
The Board recommended dividend of 18% p.a. For F.Y. 2006-07, subject to approval of members at the ensuing 16th Annual General Meeting to be held on 25.09.2007, as against 12% p.a. Paid for previous F.Y. 2005-06.
Click here to view more details:
Gujarat Ambuja Exports Ltd (Cotton Yarn Division) is one of the leading cotton yarn manufacturers in India producing cotton yarn in the counts Ne 16 to Ne 40, both single and double. The cotton yarn conforms to the highest standards with respect to Uster evenness, neps and Classimat faults.
The machinery used for producing this cotton yarn is most modern with auto-coners, auto-leveller draw frames and new generation cards.
Performance of the yarn during warping, weaving / knitting are of paramount importance and care is taken in achieving industry best performance at this end. Product is checked and re-checked at every stage to ensure fault-free product performance.
Gujarat Ambuja Exports Ltd
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