SHRADHA AI TECHNOLOGIES L Share price

The Company was incorporated under the Companies Act1 956 on1st January 1990 as a Private Limited Company under the name ofShradha Distributors Private Limited. Subsequently it wasconverted into a Public Limited Company and its name was changedto Shradha Industries Limited vide fresh certificate ofincorporation dated 12th August 1994 issued by the Registrar ofCompanies of Maharashtra at Bombay.Presently the Company is operating as distributor of I.TCLimited for its Cigareftes in Central India - Apart fromNagpurthe Company has its depot in Bilaspur & Adilabad. Recentlyin August 1994 the Company has been appointed as distributor forManikohand Gutkha for Nagpur Region.The Company is now diversifying its activities by setting up aPolypropylene Mats unit at Jalgaon Maharashtra.FINANCIAL HIGHLIGHTSThe financial performance of the Company for the last fiveaccounting yea''rs is as under: (Figures in Rs.)----------------------------------------------------------------- 31/3/1991 31/3/1992 31/3/1993 31/3/1994 31/03/95-----------------------------------------------------------------Capacity Utilization N.A. N.A. N.A. N.A. N.A.SALES 8433223 - - 197666425 186484587OTHER INCOME - 70985 490885 2259825 2603424PROFIT 15511 2890 393672 2990740 4258820(Before Interest Depreciation & Tax) PBIDTINTEREST 3946 - 63200 1696745 1688475DEPRECIATION - - 28899 136872 428304PROFIT BEFORE TAX(PBT) 11565 2890 301573 1157123 2162041PROVISION FOR TAX 3000 1600 112500 425000 240087PROFIT AFTER TAX 8565 1290 189073 732123 1921954DIVIDEND NIL NIL NIL NIL 229860EQUITY SHARE CAPITAL 371000 371000 2264500 2298600 2298600PREFERENCE SHARE - 200000 200000 -CAPITALRESERVES 3448 4738 193811 925934 2618027EPS 0.03 0.03 4.53* 3.23* 8.36BOOK VALUE 10.09 10.12 10.81 14.02 21.39NOTES1. Denotes weighted average E.P.S.2. The face value of the equity share of the Company was Rs.100/- till 15/02/93 after which it has been sub-divided intoequity share of Rs.10/- each. However the E.P.S. and BookValue has been calculated on Rs.10/- per share.3. 11% Redeemable Non Cumulative Preference Shares have beenredeemed on 21.11.94.4. The Company has been operating as distributor of ITC Ltd-(Cigarettes Division) from December''93. Hence till that time thesurplus funds of the Company were deployed to generate interestincome. The other income mainly constitutes the following incomewhich are of recurring nature: ( Figures in Rs.)----------------------------------------------------------------- 31/3/91 31/3/1992 31/3/1993 31/03/94 31/03/95-----------------------------------------------------------------Area commissionfrom I.T.C.Ltd. - - - 617579 169679Interest received. - 70985 392992 1315934 1284687Car/bus hire charges - - 48000 164200 592132-----------------------------------------------------------------Other income for the year/period ended 31.03.93 31.03.94 &31.03.95 includes Rs. 45950/- Rs. 148677/- and Rs. 435232/-respectively as profit on sale of shares.MAIN OBJECT OF THE COMPANYThe main object of the Company as detailed in the Memorandum ofAssociation of the Company is as under:-"To carry on business as Distributor Dealers Merchants &Importers of Tobacco Cigar Cigarettes Bidi Snuff PipesMatches Match lights and to do business as commonly dealt in bytobacconist or which are or may be required by or are or may beconvenient to consumers of tobacco in any shape or form."The object which is stated in the "Other object" of theMemorandum of Association of the Company and for which theCompany has got consent under section 149(2A) of the CompaniesAct 1956 from the shareholders at the Extra Ordinary GeneralMeeting held on 20th September 1994 is as under:"To Manufacture and deal in all kinds of dissolved cellulosesincluding rayon or artificial silk nitrocellulose celluphasefilms plastics cellulose derivatives and cellulose productsand by products."SUBSIDIARY COMPANIES:The Company has no Subsidiaries within the meaning of Section 4of the Companies Act 1956.