Indo Amines Reports Robust Q1 Results, Schedules AGM for September
Indo Amines Limited reported robust Q1 financial results with consolidated revenue of Rs. 28,758.53 lakhs and net profit of Rs. 2,884.11 lakhs. The company transferred leasehold land rights for Rs. 600.00 lakhs, resulting in an exceptional gain. The Board recommended a final dividend of Rs. 0.50 per equity share, reappointed the Cost Auditor, updated the Insider Trading Policy, and scheduled the AGM for September 24.
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Indo Amines Limited , a leading chemical manufacturing company, has announced strong financial results for the first quarter, along with several key corporate decisions.
Financial Performance
The company reported impressive standalone and consolidated financial results for Q1:
| Particulars (in Rs. lakhs) | Standalone | Consolidated |
|---|---|---|
| Revenue from Operations | 27,094.39 | 28,758.53 |
| Net Profit | 2,548.63 | 2,884.11 |
| Earnings per Share (Rs.) | 3.48 | 3.94 |
On a standalone basis, Indo Amines achieved a revenue of Rs. 27,094.39 lakhs, with a net profit of Rs. 2,548.63 lakhs. The consolidated revenue stood at Rs. 28,758.53 lakhs, with a net profit of Rs. 2,884.11 lakhs. The company's earnings per share for the quarter were Rs. 3.48 (standalone) and Rs. 3.94 (consolidated).
Asset Transfer and Exceptional Gain
During the quarter, Indo Amines transferred the rights of its leasehold land located at W-265/266A, TTC Industrial Area, Rabale, for a total consideration of Rs. 600.00 lakhs. This transaction resulted in an exceptional gain of Rs. 594.82 lakhs for the company, boosting its overall profitability for the quarter.
Corporate Decisions
The Board of Directors made several important decisions during their meeting on August 12:
Cost Auditor Reappointment: M/s. Gangan & Company, Cost Accountants, have been reappointed as the company's Cost Auditor for the upcoming financial year.
Insider Trading Policy Update: The company has revised its Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information to align with recent statutory amendments under SEBI regulations.
Annual General Meeting: The 32nd Annual General Meeting (AGM) of Indo Amines Limited is scheduled for September 24. The meeting will be held through video conferencing or other audio-visual means, in accordance with the relevant circulars issued by regulatory authorities.
Dividend Recommendation: The Board has recommended a final dividend of Rs. 0.50 per equity share (face value Rs. 5 each) for the financial year ended March 31, subject to shareholder approval at the upcoming AGM.
Operational Highlights
Indo Amines continues to operate primarily in the chemicals manufacturing segment. The company's strong performance in Q1 reflects its resilience and strategic positioning in the market.
The management's decision to transfer leasehold land rights has contributed significantly to the company's profitability this quarter, demonstrating effective asset management.
Investors and stakeholders can look forward to the upcoming AGM, where they will have the opportunity to engage with the management and vote on key resolutions, including the proposed dividend.
Historical Stock Returns for Indo Amines
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.40% | -4.62% | -11.57% | -25.37% | -41.61% | +4.23% |
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