V-Guard Industries Limited under its corporate social responsibility initiative has partnered with Indraprastha Academy Foundation to train unemployed youth as service technician on their products. CSR programs are being run in Noida, Bhubaneshwar, Kochi, Hubli. These students would also be provided on-job-training at service centers of V-Guard where they will be paid stipend.
EPCOS India has significantly expanded the manufacturing capacity for power capacitors at its plant in Nashik. In order to meet the growing demand from both Indian and international customers, EPCOS India has erected a new 16,800 m² production and warehouse building, which is now operational. The Nashik plant now has a total area of over 40,000 m² and manufactures India’s broadest range of film power capacitors. These products include capacitors for low-voltage and medium-voltage power factor correction (PFC), power capacitors for power transmission systems, as well as AC capacitors for pumps and household appliances, and DC capacitors for EMI suppression.
Blue Star has reported a total income of Rs. 840.22 crore for the quarter ended September 30, 2017 on a consolidated basis as compared to Rs. 858.01 crore during the same period in the previous year, representing a decline of 2 percent. The operating profit (PBIDTA excluding other income and finance income) for the quarter was Rs. 45.91 crore as compared to Rs. 40.19 crore in Q2FY17, a growth of 14 percent.
Financial expenses for the quarter declined by 33 percent to Rs. 5.87 crore from Rs. 8.75 crore in Q2FY17 due to reduced cost of borrowings and reduction in the level of borrowed funds. Tax expense for the quarter was Rs. 8.42 crore as compared to Rs. 7.34 crore during the same period last year. Net profit for the quarter was about the same at `20.78 crore as compared to Rs. 19.99 crore in Q2FY17.
Comparable consolidated segment performance for the quarter ended September 30, 2017 (Q2FY18). The unitary products revenues during the quarter increased marginally to Rs. 294.38 crore from Rs. 262.83 crore in Q2FY17, a growth of 12 percent. Market growth rate of the room air conditioners industry remained stagnant over last year since sales began slowing down from Q1FY18 itself as distributors stocked less owing to GST migration. The revival and pick up of sales momentum did not happen in Q2FY18, and sales growth remained relatively sluggish. Segment results at Rs. 15.66 crore declined by 21 percent as compared to Rs. 19.79 crore in Q2FY17, mainly owing to marketing investments made in the newly-launched water purifier business.
Comparable consolidated financial performance for the half-year ended September 30, 2017 (H1FY18). For the half-year ended September 30, 2017, the company reported total income of Rs. 2207.41 crore as compared to Rs. 1993.31 crore over the same period in the previous year, representing a growth of 11 percent. Operating profit (PBIDTA excluding other income and finance income) increased by 12 percent to Rs. 131.23 crore from Rs. 116.67 crore during the same period last year. Net profit for the half-year increased by 11 percent to Rs. 79.24 crore as compared to Rs. 71.38 crore in H1FY17.