Here is a short note on tube investment demerge details taken from 267 paged document on http://t.in.com/Daty NCLT approval received record date -28 AUg. Shares holders to receive one share of TIFHL each for every share in tube investments.
Revenue split TI-manufaCTUring -82% TI-Financial services-18% TI FHL Revenue details- 2015-300 CR 2016-361 CR 2017-420 CR Share capital 37.47 cr Reserve and surplus 1902 cr Post demerger Share capital for each will be 18.6 cr approx. Reserves and surplus for TIFHL will rise from -0.06 cr to 967 CR Assets on books-953 CR each for TIFHL and TI Ltd AN old note for referece- Chennai, April 30: Tube Investments of India Ltd, part of the Chennai-based Murugappa Group, has posted a consolidated net profit of Rs 77 crore for the quarter ended March 31. This represents 93 per cent growth over Rs 40 crore in the year-ago period. The consolidated turnover for the quarter stands at Rs 1,809 crore (Rs 1,460 crore). As a standalone company, it has posted a net profit of Rs 58 crore on a turnover of Rs 871 crore during the quarter as against Rs 46 crore on Rs 782 crore in the previous-year quarter. Cholamandalam Investment & Finance Co Ltd, a financial services subsidiary, posted a net profit of Rs 61 crore during the quarter (Rs 36 crore). Cholamandalam MS General Insurance Company Ltd, an insurance subsidiary, posted net profit of Rs 5 crore in the quarter (a loss of Rs 34 crore). Financiere C 10, the company`s overseas subsidiary that makes industrial chains, achieved a turnover of Rs 216 crore and net profit of Rs 5 crore. In the past financial year, Tube Investments posted a consolidated turnover of Rs 6,265 crore (Rs 4,917 crore). Net profit stands at Rs 269 crore (Rs 196 crore). According to Mr L. Ramkumar, Mag Director of Tube Investments, the bicycles division registered a growth of 8 per cent in volume and 15 per cent in revenue during the year. The slow down in auto industry impacted the turnover of engineering and metal formed product segments. Besides, thanks to inflation, the margins too were under pressure.