Nila Infrastructures' GST Order, DCX Systems' Major Contract, Patanjali Foods' Acquisition, and More

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Nila Infrastructures Receives GST Order; Major Contracts and Approvals for DCX Systems, Patanjali Fo

Team FS

02/Jul/2024

Key Points

Nila Infrastructures Receives GST Order: Company ordered to pay INR 50.5 lakhs plus an equivalent penalty.
DCX Systems Secures Major Contract: Awarded INR 1,250 crore contract by Larsen & Toubro Limited.
Patanjali Foods Approves Acquisition: Board approves the acquisition of Patanjali Ayurved's non-food business for INR 1,100 crores.

In the ever-dynamic business landscape, multiple companies have made significant announcements. Here’s a detailed look at the latest developments:

Nila Infrastructures Ltd: The company has received a GST order from the Office of the Assistant Commissioner, CGST, Jodhpur, Rajasthan. The order aggregates to INR 50,50,133 and imposes a penalty of an equivalent amount, totaling INR 1,01,00,266. This order significantly impacts Nila Infrastructures, emphasizing the need for stringent compliance and financial prudence.

Oriental Carbon & Chemicals Limited: Announced a Scheme of Arrangement between Oriental Carbon & Chemicals Limited and OCCL Limited. This scheme aims to streamline operations and improve organizational efficiency, potentially driving better financial performance and shareholder value.

Aditya Ispat Ltd: The Board approved the proposal to sell a 2700 sq yds open plot in Jeedimetla, Hyderabad. This strategic sale aims to unlock value and provide additional liquidity for future investments and operational needs.

DCX Systems Limited: DCX Systems has secured a significant contract worth INR 1,250 Crores plus applicable taxes from Larsen & Toubro Limited. The contract involves the manufacture and supply of electronic modules, with an execution period of three years. This deal underscores DCX Systems’ robust capabilities and its strategic partnership with industry giants.

K.P. Energy Limited: Scheduled a board meeting on July 4, 2024, to consider a proposal for raising funds. This meeting will likely discuss strategic funding options to support ongoing and future projects, ensuring the company’s growth and stability.

Lloyds Metals and Energy Ltd: The Board will meet on July 4, 2024, to finalize the proposal for issuing up to 4 Crores Convertible Warrants on a preferential basis. Of these, up to 1.5 Crores are proposed to be issued to the company’s promoters, indicating a strong commitment from the leadership to drive growth and expansion.

Power Finance Corporation Ltd: Announced the incorporation of a wholly-owned subsidiary, Jam Khambhaliya Transmission Limited, for developing "Augmentation of transformation capacity at Jam Khambhaliya PS (GIS)". This move aims to enhance infrastructure capabilities and support the company’s long-term strategic goals.

Zydus Lifesciences Ltd: Received a rectification order from the IT Act, reducing the demand from Rs. 284.58 crores to Rs. 0.011 crores for the assessment year 2023-2024. This significant reduction reflects successful negotiations and adherence to regulatory requirements.

Cupid Limited: Partnered with SAP to implement the Advanced ERP System, SAP S/4HANA Cloud. This strategic partnership aims to enhance operational efficiency, streamline processes, and support long-term growth objectives.

Genus Power Infrastructures Limited: Its wholly-owned subsidiary, Genus Power Solutions Private Limited (GPSPL), signed a Share Purchase Agreement to acquire 30,000 equity shares, representing 30% of Maharashtra Akola Amravati Smart Metering Private Limited. This acquisition will make the target company a wholly-owned subsidiary, strengthening GPSPL's market position and expanding its technological capabilities.

Sudarshan Pharma Industries Limited: Scheduled a board meeting on July 4, 2024, to consider a proposal for raising funds. The outcome of this meeting will be crucial for future financial strategies and expansion plans.

Pennar Industries Limited: Expanding its manufacturing operations in Northern India by establishing a new plant in Raebareli, Uttar Pradesh. This expansion is expected to enhance production capacity and support the company’s growth strategy.

Saptarishi Agro Industries Limited: Executed a lease agreement for a premises measuring 448 sq mtrs in Mehsana, Gujarat. This lease agreement is part of the company’s strategic plans to expand its operational footprint.

Uravi T and Wedge Lamps Limited: Announced its intention to acquire up to 55% shares of SKL India through secondary acquisition. Despite procedural delays, the first tranche of the acquisition is expected to complete in July 2024, marking a significant milestone in the company’s growth strategy.

KPI Green Energy Limited: Received approval from the Chief Electrical Inspector for 13.60 MW solar power projects under the Independent Power Producer (IPP) segment and 15 MW under the Captive Power Producer (CPP) business segment. These approvals mark a significant step in the company’s renewable energy initiatives and strategic growth.

ISMT Ltd: Completed Phase I installation of a solar plant with a capacity of 35 MW DC in Maharashtra. Operations commenced on July 1, 2024, marking a major milestone in the company’s renewable energy projects.

Latent View Analytics Limited: Acquired 70% of Decision Point Private Limited’s equity share capital. This acquisition, completed on July 1, 2024, makes the target company a subsidiary, expanding Latent View’s analytical capabilities and market reach.

BN Holdings Limited: Infused USD 32.80 million into its wholly-owned subsidiary, BN Holdings Europe Limited, to acquire further ordinary shares. This investment underscores BN Holdings’ commitment to expanding its European operations and strengthening its market position.

Shalibhadra Finance: Ventured into the housing finance business, aiming to serve small-ticket size housing loans in rural areas. This strategic move diversifies the company’s product portfolio and targets underserved markets.

Balaji Telefilms Ltd: Announced the release date for Hansal Mehta's 'The Buckingham Murders' on September 13, 2024. This thriller promises to captivate audiences, showcasing Balaji Telefilms’ commitment to producing compelling content.

NMDC: Reported a production volume of 3.37 million tonnes and a sales volume of 3.73 million tonnes for June, showing a YoY decline. The company set prices for lump ore at Rs 5,959 per ton and fines at Rs 5,110 per tonne.

Asset Management Companies: SEBI instructed stock exchanges and market infrastructure institutions to charge members uniformly, prohibiting discounts based on trading volumes or activity. This directive aims to ensure a level playing field in the financial markets.

Patanjali Foods: The Board approved the acquisition of Patanjali Ayurved's non-food business for Rs 1,100 crore. Payments will be made in five tranches, with the initial 20% already underway, emphasizing Patanjali Foods’ strategic growth and expansion in the non-food sector.

JTL Industries: Reported a 10.8% increase in sales volume to 85,674 million tonnes at the end of Q1 FY25. This growth reflects the company’s strong market position and operational efficiency.

South Indian Bank: Reported gross advances up 11.4% to Rs 82,510 crore and deposits up 8.4% to Rs 1.04 lakh crore for Q1 FY25. The CASA ratio stood at 31.87%, slightly down from the previous year’s 32.64%.

CSB Bank: Reported gross advances up 17.8% to Rs 25,099 crore and deposits up 22.2% to Rs 29,920 crore for Q1 FY25, demonstrating robust financial growth and strategic expansion.

Gandhar Oil Refinery (India): Its unit secured a three-year contract worth Rs 375 crore from ADNOC Distribution, estimated to supply 30 million litres per year. This contract highlights the company’s strong industry standing and operational capabilities.

Deepak Fertilisers and Petrochemicals: Received the NCLT nod for a scheme of arrangement between Mahahdhan AgriTech, Deepak Mining Solutions, and Mahadhan Farm Technologies. This arrangement is expected to streamline operations and enhance financial performance.

Pennar Industries: Set to establish a PEB manufacturing plant in Raebareli with a production capacity of 36,000 MTPA, aiming to strengthen its manufacturing capabilities and market presence.

BLS International Services: Its unit received Turkish Regulatory Authority's nod for the acquisition of iData, marking a significant milestone in its expansion strategy.

Maruti Suzuki India: Reported a 3% decline in production volumes to 1.33 lakh units for June YoY, reflecting the challenges faced in the automotive sector.

Sakuma Exports: Approved a bonus issue of shares in a 4:1 ratio, raised up to Rs 500 crore via QIP, and approved a Rs 600 crore investment in its subsidiaries. These decisions are aimed at enhancing shareholder value and supporting strategic growth.

IOL Chemicals and Pharmaceuticals: Received approval from the Chinese regulatory body for its fenofibrate product, enabling exports to China’s market. This approval marks a significant step in the company’s international expansion.

Ganesha Ecosphere: Commenced operations of its third production line of rPET chips at its Warangal facility, enhancing production capacity and operational efficiency.

CAMS: Partnered with Google Cloud to build a cloud-native platform for its asset management business services, aiming to enhance operational efficiency and service delivery.

Also Read : CAMS Aims for Over 20% Revenue Growth in FY25: Key Highlights from CEO Anuj Kumar's Interview

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Nila Infrastructures Receives GST Order; Major Contracts and Approvals for DCX Systems, Patanjali Fo

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