Denison Hydraulics India Ltd. BUY

PROMOTERS OF THE COMPANY

The Company was promoted by Sri. V C Janardan Rao who had earlier set up M/s. Veljan Hydrair Limited in 1966. Sri. Rao and Veljan Hydrair were selected by the Denison Division of Abex Corporation, USA to set up the venture of Denison Hydraulics India Limited to manufacture High Pressure Hydraulic Components and Systems.

Sri. V C Janardan Rao, aged 61 years is a qualified and experience Engineer with specialisation in the area of Fluid Power. Recognising Sri. Rao's achievements and that of Veljan, M/s Abex Corporation, USA through its Denison Division, selected Sri. Rao and Veljan as the Indian promoter from amongst several others, to setup the new venture of Denison Hydraulics India Limited to manufacture High Pressure Hydraulic Components and Systems.

In the year 1986-87, the Abex Corporation transferred their interest in the Denison Division to M/s. AB Hagglund & Soner of Sweden and since then the Denison Division came to be know as Hagglunds Denison worldwide.
As a result of the acquisition of the Denison Division by AB Hugglund & Soner from the Abex Corporation, AB Hugglund & Soner, Sweden have reaffirmed their continued technical support and help to the company covering all the products for which Know-how and the Collaboration Agreements were earlier entered into by the Company with the Abex Corporation.

The name of the company was also changed in the year 1988-99 from Denison Hydraulics India Limited to Hugglund Denison Limited to reflect its association with Hagglunds. The 2,34,000 Equity shares are held by M/s Incentive Fastighet AB AS ON 31ST October, 2000.

Veljan Hydrair Limited was promoted by Sri V C Janardan Rao in the year 1996. The Company is a closely held Public Limited Company. The Company is engaged in the manufacture of Pneumatic Equipments and Hydraulic Cylinders. The Company has been operating successfully and profitably.


earnings lat year . on 1.8cr eq netprofit was 5.80cr (32.e.p.s.). for nine months it has posted 6.25cr (34.7 e.p.s) i am expecting 3.5 cr on last quarter. so full year e.p.s could be 55 rs e.p.s .

share holding

Foreign Holdings 13.01

Corporate Bodies 0.43

Directors and their Relatives 73.1

Other including Indian Public 13.47

so lo liquidity . but with high reserves could give bonus for this year .
scrip may tuch 1000 shortly .