Wheels India Ltd Q3FY21 consolidated net profit up at Rs. 12.11 crore
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WHEELS INDIA LTD. has reported financial results for the period ended December 31, 2020.
Financial Results (Q3 FY20-21) - QoQ Comparison
The company has reported total income of Rs.709.27 crores during the period ended December 31, 2020 as compared to Rs.563.27 crores during the period ended September 30, 2020.
The company has posted net profit / (loss) of Rs.12.11 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.6.84 crores for the period ended September 30, 2020.
The company has reported EPS of Rs.5.03 for the period ended December 31, 2020 as compared to Rs.2.84 for the period ended September 30, 2020.
Wheels India Ltd has registered a 30.4 per cent rise in net profit for the third quarter ended December 31, 2020, at Rs 12 crore, from Rs 9.2 crore in the comparative period of the previous year. Revenue for Q3 ended December 2020 rose by 9.8 per cent to Rs 640 crore from Rs 583 crore in the same period last year. The Company exports were around 20 per cent of its sales. The firm has a diversified customer base with over 40 customers globally. During the third quarter, the Company began its first shipment of cast aluminum wheels to the US from its newly commissioned plant in Thervoy Kandigai. Commenting on the performance in Q3, Srivats Ram, MD, Wheels India Ltd, said, “We have seen a decent performance in all segments other than CV (Bus, in particular) and Railways. The Tractor and Construction Equipment segment saw strong demand. We have been able to grow our exports reasonably in this period.”
TVS Group implements family arrangement
January 27, 2021
Holding company transfers equity in listed entities to the respective family investment firms
TVS family members, who had announced plans on December 10 last year to align ownership with management of the various group companies, on Wednesday agreed on the methodology to execute it.
In a notification to the stock exchanges, various listed companies of the group detailed how they will carry out the process a composite scheme of amalgamation and arrangement that will be filed before the Chennai Bench of the National Company Law Tribunal (NCLT).
As a first step, the two holding companies Sundaram Industries Pvt Ltd and Southern Roadways Pvt Ltd will be amalgamated into TVS Sundaram Iyengar & Sons Pvt Ltd, another holding company. At the same time, businesses managed by various family members will be demerged into companies that are majority-owned by the respective families.
$8.5 billion TVS Group restructures ownership of group companies, to scrap holding company
IANSDec 11, 2020, 08:20 IST
BCCL
Chennai, The members of $8.5 billion TVS family on Thursday decided to restructure the ownership of various companies, a measure which does not involve payment of brand royalty to the family members or their holding companies.
The family members heading the group s listed companies like
TVS Motor Company Ltd,
TVS Srichakra Ltd, Wheels India Ltd and others, in an identical letter, have intimated the respective Company Secretaries about the family decision and these were, in turn, filed with the stock exchanges. With the passage of time, various members of
TVS Group: A smart, bold GenNext helps group adapt to dynamic markets
December 11, 2020
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× The TVS Group’s ownership structure change is expected to give more operational freedom to the current generation of the family to respond faster and better to the dynamic market situation. Family members of this generation who are running the business ages spanning from late 20s to early 50s have already made their mark with significant initiatives.
“The current generation in TVS Group is a sensible bunch of people aware of the fortunes they have inherited. All of them are not just educated well but also have a great exposure to the right kind of consulting or industry verticals and hence they bring in decent experience,” observed a management consultant.