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Why directors are raising stake silently??
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Excel Castronics Ltd has informed BSE that the turnover for the Financial year 2015-16 is stood at Rs.76 crores and recently the Company had received an export order worth Rs.86 crores therefore the management is expecting to achieve the turnover of Rs.150 crores in the upcoming financial year 2016-17–Major from core business excluding new business division-cashew.
3.Industry : Castorseed price marginally moved up in spot market on the expectation of good demand in coming days. traders said that demand for castor oil is likely to rise in coming days on which castor price marginally increased on wednesday. on the other side, arrivals declining at the producing belt which may increase the seed price in coming days. about 20,000-22,000 bags arrived in gujarat and price gained by ₹5 to ₹690-700 per 20 kg. at the saurashtra, castor arrival registered 1,000 bags and price remained steady at ₹670-680 per 20 kg. castor oil moved down by ₹2 to ₹718 per 10 kg.at the rajkot commodity exchange (rcx) castor september contract declined ₹8 to ₹3,591 per quintal. rcx spot castor increased by ₹12.50 to ₹3,475 per 20 kg.
4. castor seed cash market trades up on increasing fear of 30 percent area decrease by the end of september.besides, fresh export demand from bulk buyers like china, eu and us has lent support to cash market fundamental.farmers and stockiest have retained stock in anticipation of higher price. there is a common view that seed price may move up smartly in fourth quarter as crop size is lower and production may dip below 12 lakh tonne.old accumulated stock now started drying out and 70 to 75 % crop from last year is available now.this means total available stock is around 10 lakh tonne. over one lakh tonne seed crushing would continue till march -next year.thus 7 to 7.5 lakh tonne seed would be crushed by the end of march-2017.it would drag down carry out below 3 lakh tonne.this would lend support to cash market fundamental.
ECL plans to set up a state of the art and first of its kind organized cashew processing plant in the country. ECL to strategically set up India’s largest cashew and cardamom processing plant near Mundra to facilitate exports. For that ECL has already acquired acres of land. The Project work has already commissioned to set up a hi-tech and automatic Cashew and Cardamom processing plan and ECL plans to Import Raw cashew nuts from African countries Like Ghana, Benin Etc.-------------Relate with Financials–Asset base doubled.
Change management :vallabhaji madiyar who has been redesignated has MD -A business tycon & Award winner which company communicated this to BSE last month.
Less capital intensive business
Jayesh Vallabhaji Madiyar…appointed as additional director in 2014 since then…topline growth and bottom line growth fantastic…complete revival story…if business continued like this…and if mgmt posted continous good numbers…it can turn in 3 digit number in long run