[quote]The Company continued to manufacture and market high quality castings meeting international standards. Sales and margins were increased due to the continuing outsourcing of castings from reliable outsources and by effective control over costs.
The Company hopes to improve the margins further during the current year unless any changes In the international scenario affect the Company results.
Domestic market has been improving for the products manufactured by our Company. We have been able to convince customers like L & T, Voltas, Wipro etc to specify our Brand into their buying specification. We are hoping to have the Government to introduce “Made in India” products on most of the infrastructure projects where Government fund is involved.
We hope to generate sizable volume of business with the new products developed during the second half of the year.[/quote]
Lot of cash & deposits siting on balance sheet with Fixed deposits earning at around 7% of interest. Where as they are paying ~20% interest for the short term debt. Finance cost is at 20% of short term borrowings. Why are they doing that? Can’t they just clear off the debt. They have almost invested 10 cr. in mutual funds.
For such a small company shouldn’t these items taken into consideration before investing?
The Board of Directors of the Company at their meeting on 17.01.2018 at the Registered Office of the Company at 112, Madhapur Road, Kaniyur Village, Karumathampatti (via), Coimbatore - 641659 approved the Scheme of Amalgamation of Interfit India Limited and Merit Industries Limited (Transferor Companies) with National Fittings Limited (Transferee Company)
