The Little Book of Bullet Proof Investing

 The Little Book of Bullet Proof Investing

http://www.2shared.com/document/du8vvRd1/The_Little_Book_of_Bullet_Proo.html


HAPPY INVESTING


                        SAHADEVA RAJU  ALLURI

Jubilant Industries Ltd BUY (200.00)

EQUITY: 8.01 CR
BOOK VALUE :333.00 RS
NINE MONTHS EPS 34.4
FACE VALUE : 10 Rs
DEBT -FREE COMPANY


Jubilant Industries Ltd. is the flagship Company of Agri and Performance Polymers business of the Jubilant Bhartia group. The Company’s diversified portfolio of Agri products, Performance Polymers and IMFL businesses delivers broad range of technology based products and solutions to customers in India as well as globally.

Over the years, this business has attained a significant size in India and the Company aims at scaling up its business in global markets

"Current Leadership Postions of each business segment"

Agri Products	Amongst Top 3 brands in India for Single Super Phosphate fertilizer and a significant agro nutrient player
Food Polymers	No.1 in India and globally No. 3 for PVA in solid form for chewing gum base
VP Latex	No.1 in India and amongst the top 3 players globally for Vinyl Pyridine Latex for automobile tyres and conveyor belt
Consumer Products	Consumer brand “Jivanjor” is the 2nd largest brand in India in consumer adhesives and a significant player in the Indian wood finishes market
Application Polymers	Major player in the industrial adhesives market in India catering to PSA, packaging, lamination and other specialized applications

The company’s strategic focus is to innovate, collaborate and accelerate the process of delivering the products to the market for its customers’. At Jubilant Industries emphasis is given to cater to the needs of the customers through good quality services and products being manufactured at the state of the art manufacturing plants of the Company at Gajraula, Sahibabad [in Uttar Pradesh], Kapasan [in Rajasthan], Nira [in Maharashtra] and Samlaya [in Gujarat]. The business works closely with customers using research and development to introduce intelligent system solutions and sophisticated products to suit the end consumer's needs.

Agricultural Products

Jubilant offers a range of products in Crop Nutrition, Crop Growth Regulator and Crop Protection areas under the brand “Ramban”, which is a widely accepted brand in the market. We are one of the leading manufacturers of Single Super Phosphate (SSP) in India which is also the largest selling product under the Ramban Umbrella.

Performance Polymers

The Performance Polymers business is one of the leading manufacturer of products such like vinyl pyridine latex, emulsion polymers, adhesives, wood finishes, speciality polymers and food polymers. The application of these segments are as diverse as tyres, textiles, construction, packaging and foods & beverages. We provide the required impetus to industries such as paints, construction chemicals, textiles, flexible packaging, lamination, packaging, stickers, labels and tapes and offer product solutions that match international quality standards.

Others

Jubilant Industries has been manufacturing IMFL products for the various established brands in India, engaged in liquor business. Our capacity is 100,000cases/month for IMFL. With a configuration of 5 automatic/semi-automatic lines we can handle all sizes of bottles.

All lines are equipped with required Vats for storage of ENA and labeling machines which provides flexibility for bottling various sizes of IMFL. We have fully equipped, state of art laboratory to support our bottling plant. Our products get manufacture at our plant in Nira.

LATEST RESULTS:

http://www.jubilantindustries.com/financials.html

DEMERGER(INCORPORATION) DETAILS :

The Hon'ble Allahabad High Court approved as part of the Scheme demerger of Agri and Performance Polymer Business ofJubilant Life Sciences Limited (JLL) into Jubilant Industries Limited (Company) during the quarter. The Scheme became effective on 15th November, 2010 upon filing of court orders with the Registrar of Companies, Uttar Pradesh and Uttarakhand.

On Demerger, shareholders of JLL received one Equity Share of ` 10 each of the Company for every twenty Equity Shares of` 1 each held in JLL. The Equity Shares of the Company have been listed at BSE and NSE effective 14th Feb, 2011.

From the Demerger appointed date i.e. 1st April 2010 till the Scheme becoming effective, the operations of the Company, were run by JLL, on trust, for and on behalf of the Company, and the economic benefit attributable to the Company has been passedon to it in terms of the said scheme. Since, the economic benefits under the scheme have accrued effective 1st April 2010,


INVESTMENT RATIONAL : EXPECTING STOCK TO DO WELL IN FUTURE AND GOING TO POST 40 E.P.S ACCUMULATE BELOW 200 RS.

Rishi Laser Ltd BUY (59.00 Rs)

A dedicated vendor for many MNC engineering giants in construction equipment,power and metro rails

From a fabricating subcontractor to a laser cutter and welder, Rishi Laser has come along way, moving up the value chain and becoming a dedicated vendor to some of the major construction equipment (CG) players like JCB, BEML, L&T, Volvo, Ingersoll Rand and Caterpillar, supplying them various assembly parts and other fabricated structures. The company is a dedicated vendor to power transmission and distribution (T&D) companies such as Areva, ABB, Alstom, Crompton Greaves, and Schneider, supplying fabricated structures like SS boxes and switchgear kits .

Rishi Laser is a sole dedicated vendor for the supply of various assemblies and fabrications to Tata Hendrickson’s for its commercial vehicle suspension system. The company provides various assembly parts and fabrication works to Bombardier Transportation(BT) for its Delhi metro projects. It supplies and undertakes fabrication works for the textile machinery and food processing industry. Rishi Laser has 14 plants located across India to serve its customers. Sales to the CE sector accounted for 24% of total sales in the fiscal ended March 2010(FY 2010). Sales to rail transportation (RT) comprised 11%, sales to power generation and distribution (PGD) segment 18%, and automotive sales 23%. Once all the industries pick up,sales to the CE, RT, PGD and automotive sectors each will range between 20% to 25% of total sales.

Rishi Laser started FY 2011 on a strong note. Standalone net sales were up by 50% to Rs37.69 crore in first quarter ended June 2010, while better operating profit margin of15.1% resulted in strong operating profit growth of 93% to Rs 5.68 crore. The June 2010 quarter was very unique for Rishi Laser. Its traditional business verticals, construction equipment and power T&D were not growing as expected. Yet,growth came from other business verticals including automobiles and railway transportation(Metro rail). The company is a dedicated fabricator for these sectors. Orders from Tata Hendrickson for autos and from BT for metro projects ensured strong set of numbers.Exports of moulds to Brazil also helped.
CE and power T&D players are expecting a strong set of growth in orders from H2 ofthe fiscal ended March 2011 (FY 2011) onwards. JCB, the largest player in back loader,plans to manufacture 18,000 numbers of back loaders in August 2010 as against about 10,000numbers on an average in Q1 fo FY 2011. One of the units of the Pune, Maharashtra, plant of Rishi Laser is fully dedicated to fabrication and assembly of JCB order. Further, there is less inventory lying with CE players. So ordering and execution will be much faster.
Consolidation is happening in the power T&D space. Large players like ABB, Arevaand Siemens are still fighting for orders and margin. However, all these giant players arebetting big on the country and have laid out massive capacities in India. ABB already hashuge capacity in Baroda in Gujarat, while Areva just expanded it by spending about Rs 950crore and Siemens Rs 350 crore for more indignation of products. Rishi Laser has worked with all these companies and is a preferred vendor for all of them. As and when the consolidation within the power T&D sector ends, volumes will kick in, resulting inbetter orders and margin for Rishi Laser.
Rishi Laser already had expanded in the downturn of FY 2009, and has sufficient capacities to serve its customers. However, the downturn resulted in lower utilization of capacities, resulting in lower margin. With the economy back on track and orders expected to flow strongly from all sectors, capacities will be utilized at the optimum level,resulting in better margin.

We expect Rishi Laser to report net sales and profit after tax of Rs 177.51 crore andRs 7.76 crore in FY 2011. This gives an EPS of Rs 8.8. This EPS is expected to rise to Rs13 in FY 2012. At the current market price of Rs 80, the scrip is available at 7 times expected FY 2011 earning and only 4.5 times its expected FY 2012 earning.

Rishi Laser has worked very closely with many of the large engineering giants and now has become a dedicated vendor to serve them. While the number of dedicated customers is onrise, the growth of the company will depend upon how that particular industry is growing.With an all-round growth expected from H2 of FY 2011 onwards due to pick-up in capex cycle and the company having sufficient capacity to serve vendors for all stream of businesses,Rishi Laser is set to get the maximum benefits.

Source: Capitaline Databases

International Travel House Ltd

Focused on business class

India’s economic recovery and attraction as investment destination willboost corporate travel

International Travel House (ITHL), a constituent of the ITC group (61.7% stake), is oneof India’s leading travel management companies servicing the travel needs of Indianand multinational business houses with implants in 160 companies. Since commencingoperations in 1981, ITHL offers a full bouquet of travel services and has grown to be oneof the largest complete travel management companies in India, with each of its productsand services bearing the distinct ISO 9001 quality benchmarking. Clients include NDTV,Infosys, HCL, Siemens, Citibank, ABN, Samsung, Max Hospitals, FICCI, Essel group and 3M,apart from the ITC group. It owns a transport fleet of 900 cars and has over 700 trainedtravel professionals.Recognised and approved as a travel agent and tour operator by the Air TransportAssociation. ITHL is affiliated with the World Tourism Organisation, Universal Federationof Travel Agents Associations, American Society of Travel Agents, International Congresses& Conventions Associations, and the Travel Agents Association of India.

Due to severe global slowdown in 2009, most Indian and MNC companies had imposed travel restrictions to reduce cost. Many travels were canceled and cheaper alternatives were preferred. As the Indian economy springs back, most travel restrictions have been lifted.Business travel, thus, has got back on track.With a team of dedicated professionals, a nationwide network, and state-of-the-art technology, ITHL is well equipped to address all possible travel needs of both business-and leisure travelers. It offers a range of services including corporate travel, car rental, destination management services, world class holidays, incentive group travel,conference management and foreign exchange.
With India identified as a strong center for medical services globally, ITHL is pursuing the niche segment of medical tourism. The company is also aspiring to be a leader in the conference and exhibition segment of the business. It has been appointed as the official travel partner and professional conference organizer in India by several important international conference organizers. These linkages are expected to generate continuing business during the coming years. Though ITCH was doing the business of travel insurance for quiet some time, it has started promoting it aggressively right now. At present, the company is insuring more than 80% of its clients going abroad.
After the global turmoil, things have started looking up. Companies across various sectors have started posting healthy profit growth. Global mergers and acquisitions are happening across sectors. Meeting, incentive, conference and exhibition tourism has also picked up on demand for events and incentive tours from the booming consumer durables and auto companies. The Commonwealth Games in October 2010 also offer opportunities,particularly for the car rental business. Apart from inbound traffic, outbound traffic is looking up as the Indian economy gathers steam, reducing the cost of foreign travel and stay and increasing the disposable income and confidence of Indian tourists.

ITHL was enjoying an operating profit margin (OPM) in the range of 30% till the fiscal year ended March 2008 (FY 2008). Due to severe squeeze in business, OPM compressed to21.2% in FY 2009 and slightly recovered to 23.1% in FY 2010. With demand reviving and due to various cost control measures undertaken by the company, OPM can return to near 30%level in years to come. Income from operations registered a robust growth of 51% to Rs32.98 crore in the quarter ended June 2010. OPM expanded a whopping 490 bps to 26.4%,boosting operating profit 86% to Rs 8.72 crore. Net profit increased 156% to Rs 4.27crore.

We expect ITHL to register sales and net profit of Rs 140.87 crore and Rs 18.29 crore,respectively, in FY 2011. On equity of Rs 7.99 crore and face value of Rs 10 per share,EPS works out to 22.9. The share price trades at Rs 252. P/E works out to just 11.Expected EPS for FY 2012, is around Rs 29 and P/E to 8.7. This is low for an ITC group company in a healthy growth mode.

Source: Capitaline Databases

Following are the famous quotes and sayings in Stock Market:-

1. “ A stock broker is one who invests other people’s money until its all gone.”
-Woody Allen, American Film Maker

2. “ Average investors who try to do a lot of trading will only make their brokers rich.”
-Michael Jenson, Finance Professor -Harvard.

3. “ To the investment manager, soft dollars are someone else’s money and hard dollars are your own.” -Dean own.”Ibid.

4. “ Nobody works as hard for his money as the man who marries it.”
-Kin Hubbard, 1868-1930, American Journalist.

5. “ There are three classes of people who don’t think markets work: the Cubans, the North Koreans and the active find managers.”-Rex Sinquefield, Dimensional Fund Managers.

6. “ It is difficult to find a portfolio to find a portfolio manager who will continue to provide superior performance after he is retained”-Eugene B. Burroughs

7, “ We have two classes of forecasters: Those who don’t know and those who don’t know they don’t know.”-Jhon Kenneth Galbraith.

8. “ The periods of boredom have grown shorter and shorter-and the terrors last a bit longer.”
-Arthur Cashin, Floor Broker, New York Stock Exchange.

9. “ Stocks are bought on expectations, not facts.”
-Gerald M. Loeb

10 “ I never attempt to make money on the Stock Market. I buy on the assumption that they could close the market the next day the next day not reopen it for five years.” -Warren Buffet.

12. “ Give me a stock clerk with a goal and I’II give you a man who will make history. Give me a man with no goals and I’II give you a stock clerk.” -James Cash.

13. “ Sometimes your best investments are the ones you don’t make.’ -Donald Trump.

14. “ Great investment opportunities come around when excellent companies are surrounded by unusual circumstances that cause the stock to be misappraised.” -Warren Buffet.

15. “ Gambling with cards or dice or stock is all one thing. It’s getting money without giving an equivalent for it .” Henry Ward Beecher.

16. “ Never make forecasts, especially about the future.” -Samuel Goldwin.

17. “ Sell to the sleeping point.—if you are troubled by an investment but still desire to hang onto it,sell just enough so that you can feel that you’ve ‘dealt’ with the anxiety and can calmly sleep at night, but you’ve kept enough to feel comfortable with what you have left.”

18. “ Obvious prospects for physical growth in a business do not translate into obvious profits for investors” -Ben Graham in The Intelligent Investor.

19. “Practicing the Golden Rule is not a sacrifice; it is an investment.” -Anonymous.

20. “ You’re neither right nor wrong because other people agree with you. You’re right because your facts are right and your reasoning is right-and that’s the only thing that makes you right.” -Warren Buffett, the world’s most successful investor.

21. “I know from experience that nobody can give me a tip or a series of tips that will make more money for me than my own judgment.” -Jesse Livermore, the greatest stock market trader who ever lived.

22. “ No matter what information you have, no matter what you are doing, you can be wrong.” -Larry Hite, Mint Investment Management Company

23. “ You cannot teach a man anything; you can only help him to find it within himself.” -Galileo Galilei.

24. “ Investment, if you like, is a math exam where the powers that be work out the answers based on new formulae they develop after your papers have been handed in.” -Dr Marc Faber, international stock market guru (famous bear).

25. “ The investor’s chief problem-and even his woarst enemy is likely to be himself.” -Peter Lynch.

26. “ The only way to “beat an index” is to invest in something other than the index. Why would you, when the only source of long-term risk and return data is the index ?” -Hebner, Mark, Founder, Index Funds Advisors, Inc.

27. “ Market Timing is a wicked idea. Don’t try it ever.” -Ellis, Charles D.

28. “ There are two kinds of investors, be they large or small: those who don’t know where the market is headed, and those who don’t know that they don’t know. Then again, there is a third type of investor –the investment professional, who indeed knows that he or she doesn’t know, but whose livelihood depends upon appearing to know.” -Bernstein, William.

29. “ Markets can remain irrational longer than you can remain solvent” -John Maynard Keynes.

30. “ The average long-term experience in investing is never surprising, but the short term experience is always surprising. We now know to focus not on rate of return, but on the informed management of risk.” -Ellis, Charles.

31. “ Since the dawn of capitalism, there has been one golden rule: “If you want to make money, you have to take risks.” -Announncer.

32. “ If your broker [or investment advisor] is not familiar with the concept of standard deviation of returns, get a new one.” -Bernstein, William.

33. “ Investors must keep in mind that there’s a difference between a good company and a good stock. After all, you can buy a good car but pay too much for it .” -Richard Thaler.

34. “ Buy on the cannons, sell on the trumpets.” -Old French Proverb.

35. “ The four most dangerous words in investing are, It’s different this time.” -Sir John Templeton, legendary investor.

36.“ Design a portfolio you are not likely to trade… akin to premarital counseling advice; try to build a portfolio that you can live with for a long, long time.” -Robert D. Arnott, President, First Quadrant Corp.

37. “ Most investors don’t even stop to consider how much business a company does. All they look at are earnings per share and net assets per share.” -Kenneth L Fisher, stock market guru.

38. “ Investment planning is about structuring exposure to risk factors.” -Fama , Gene Jr.

39. “ Emotions are your worst enemy in the stock market.” -Don Hays.

40. “ A maket is the combined behavior of thousands of people responding to information, misinformation and whim.”
-Kenneth Chang.

41. “ It is the part or wise man to keep himself today for tomorrow, and not venture all his eggs in one basket,” -Miguel de Carvantes

42. “ Risk is good. Not properly managing your risk is a dangerous leap” -Evel Knievel, Motorcylist.

43. “ The essence of effective portfolio construction is the use of a large number of poorly correlated assets” -William Bernstein.

44. “ Sometimes your best investments are the ones you don’t make.” -Donald Trump.

45. “ Great investment opportunities come around when excellent companies are surrounded by unusual circumstances that cause the stock to be misappraised.” -Warren Buffet.

46. “ The most predictable thing about the stock market is the number of experts who take credit for predicting it.” -Dave Weinbaum

47. “ Value Investing-The art of buying low and selling lower.” -Anon.

48. “ P/E ratio- The percentage of investors wetting their pants as this market keeps crashing.” Anon

49. “ Countless incidents have demonstrated that a dollar of reported profits can easily prove to be worth less than 100 cents once the dust has settled.” -Martin S Fridson , director, US investment bank Merrill lynch.

50. “ Every set of published accounts is based on books which have been gently cooked or completely roasted.” -lan Griffiths.

51. “ Astronomic price earnings ratios rarely last for long, as they thrive on excessive hope and for that reason the most has to be made of them while they persist.” -Jim Slater, Private client guru.

52. “It’s human nature to find patterns where there are none and to find skill where luck is a more likely explanation (particularly if your’re the lucky [mutual fund] manager).” -Bernstein,William.

53. ”To invest blindly in the TMT (Technology,Media and Telecom) sector is a bit like assuming someone’s bound to be good at cricket just because they’re Australian.” -Jonathan Maitland.

54. “ It is a myth that profits are higher in fast growing industries.” -John Kay, Economist and academic.

55. “ The children (or designated heirs) of a great CEO are about as likely to excel as replacement CEOs as are any of Beethoven’s children to write great symphonies.” -Robert A G Monks.

56. “ Everyone has the brainpower to follow the stock market. If you made it through fifth-grade math, you can do it.” -Peter Lynch.

57. “ 90 % of the people in the stock market, professionals and amateurs alike, simply haven’t done enough homework,”
-William J.O’Neil.

58. “ I have probably purchased fifty ‘hot tips’ in my career, maybe even more. When I put them all together, I know I am a net loser.” -Charles Schwab.

59. “ The problem with the person who thinks he’s a long-term investor and imperivous to short-term gyrations is that the emotion of fear and pain will eventually make him sell badly.” -Robert Wibbelsmen.

60. “ The function of the press in society is to inform, but its role in society is to make money.” -A. J. Liebling.

Automobile Corporation Of Goa Ltd (at 310 Rs )

Automobile Corporation of Goa Ltd. (ACGL) , the first major engineering unit to be set up in Goa, a tiny but picturesque state of India, was jointly promoted in 1980 by Tata Motors Ltd , the largest automobile manufacturer in the country and EDC Ltd (formerly known as Economic Development Corporation of Goa , Daman & Diu Ltd.) .

Right from the inception, ACGL, with its emphasis on Quality, Safety, Productivity & Reliability in line with the Tata ethos has been endearing itself to its customers.

The Company manufactures Sheet metal components,assemblies and Bus coaches at its factories situated at villages Honda & Bhuimpal, Goa.

The Company is in operation since 1982 and is a major supplier of pressings and assemblies to Tata Motors' Pune factory. To meet “Just In Time” supplies to the customer, the Company has set up a Press shop at Jejuri, Pune.

The Sheet Metal Division at its three units has High tonnage presses with an output of more than 17,620 tonnes that have ensured complete customer satisfaction.

In 1987, the Company entered into a Technical Collaboration Agreement with Fuji Heavy Industries Ltd., Japan,makers of Subaru car for various models of chassis mounted bus bodies and set up a full fledged Bus Body Building Division.The company had a further agreement with FHI Ltd. to build Monocoque buses in 1995.

Excellent production facilities,highly skilled and continuously trained manpower of Engineers,Technicians and other staff have ensured world class products and services. In its quest towards business excellence , the company practices Integrated Management Systems including Quality,Environment,Health and Safety in all its operations.
The Company is professionally managed. The Company’s shares are listed on The Stock Exchange, Mumbai. (505036)

see financial details in 2007 they gave rights at 475 rs.

http://cmlinks.com/moneypore/profilenew/financial.asp?mainopt=8&cocode=44

BUY AT CMP 310 EXPECTING 450 IN NEXT 3 MONTHS

History of Mangalore Chemicals and Fertilizers Ltd.

History of Mangalore Chemicals and Fertilizers Ltd.

YEAR EVENTS 1966 - The Comp. was incorporated on 18th July, as a private limited Comp. under the name Malabar Chemicals and Fertilisers Pvt. limited In January, the Comp. was converted into a public Comp. and the word private was deleted from its name.

- The object of Comp. is to manufacture naphtha-based fertilisers like ammonia & urea. The urea produced is being marketed under the name 'Mangala Urea'.

- Allotted 3,89,008 No. of Equity shares to promoters, etc. and 2,50,000 No. of equity shares to IDIC.

1968 - Dugal Enterprises Pvt. limited [DELs], the Government of Mysore and International Development and Investment Co. Ltd., Nassau, Bahamas [IDICs] acted as the promoters of & initial investors in the Comp. until June. Subsequently the original collaboration with C and i Gridler International Ltd., Nassau, Bahamas was cancelled by mutual agreement & IDIC also expressed its desire not to participate further in the capital of Company.

- IDIC, however, retained the 2,50,000 No. of equity shares of Rs. 10 each, fully paid-up of Comp. subscribed for by it initially. Thereafter, MSIIDC, [MSCMFs] & Mysore State Agro Industrial Corporation limited [MISAICs] joined as promoters. Rallis India Ltd., also subscribed for Rs. 40 lakhs in the equity capital of Company.

1971 - On 25th August the Company name was changed from Malabar Chemicals and Fertilizers Ltd., to Mangalore Chemicals & Fertilizer Ltd.

- Authorised capital increased. A call of Rs 7.50 per share made on 3,89,006 No. of equity shares.

1972 - Equity shares sub-divided. Paid-up capital before the public issue comprised 1,50,000 Pref. & 52,00,130 No. of equity shares. In November, 1,50,000 Pref. & 72,99,870 No. of equity shares offered at par to the public. Pref. shares redeemable at par after 12 years but before 20 years from the date of allotment. 85 pref. & 41,900 No. of equity shares forfeited.

1979 - The Comp. received a letter of intent for setting up an ammonium bi-carbonate plant with an installed capacity of 3,000 tonnes per annum.

- The Comp. also received a letter of intent for manufacture per annum of 18,000 tonnes of nitric acid, 13,750 tonnes of ammonium nitrate & 3,600 tonnes of sodium nitrate/nitrite.

- A letter of intent was received for manufacture of DAP/NPK formulations for an annual capacity of 63,500 tonnes.

- In order to increase the efficiency of ammonia/urea plants M/s. B.H.P.V. were selected for contract to instal a pure gas recovery plant in association with M/s. Air Liquid of France.

1980 - Forfeited shares reissued/forfeiture annulled in respect of 1450 No. of equity shares each in 1978 & 1979 & 2,550 No. of equity shares during the year.

- 700 forfeited equity shares reissued or forfeiture on these annulled.

1982 - The performance was not satisfactory due to frequent power cuts & demand recession. The ammonia converters modification could not be carried out limiting the ammonia plant load to 85% only.

- The ammonium bi-carbonate plant & additional auxilliary boiler were commissioned.

- The expansion programme of new projects including di-ammonium phosphate plant, terminal for imported ammonia & purge gas recovery unit became more effective by conclusion of major contracts & other financial arrangements & completion of civil works falling within the scope of company.

1984 - As regards the captive power plant, the Comp. signed an agreement in November, with M/s. O.Y. Wartsila AB, Finland for the supply & supervision of erection & commissioning of 6 nos. of diesel generating sets each of 6516 KW rating.

- 500 forfeited equity shares reissued or forfeiture on these annulled.

1985 - The working results were adversely affected by unfavourable market situation & severe competition which was intensified by drought conditions in the country, especially in Karnataka.

- Toyo Engineering Co. Ltd., [TECs], agreed to set up a second DAP plant with a capacity of 63,500 tonnes per annum based on conventional technology & also to supply additional hardware & spares for fertiliser complex free of cost.

- 450 forfeited equity shares reissued or forfeiture on these annulled.

1987 - Production & sales of urea & ammonium bi-carbonate declined due to strike by workmen for 72 days, continuing glut due to adverse market conditions & failure of equipments such as CO2 compressor, urea autoclave nozzle, etc.

- The Comp. undertook several sales promotion activities to improve the demand for products.

- The Comp. proposed to revamp its original DAP plant. PDIL, Sindri [a Government of India undertakings] was commissioned to prepare a economic feasibility report for same. It was also proposed to revamp the existing ammonia & urea plants.

- M/s. UHDE submitted a report pertaining to revamping of ammonia plant & M/s. Stamicarbon of Netherlands submitted a report on urea plants.

- The Comp. proposed to approach IDBI for financial assistance for implementation of revamping project.

- The Comp. embarked upon a scheme to create 100 million gallon capacity reservoir for storing water. Water heat recovery boilers were installed for recovery of heat from fuel gases from captive power plant.

1988 - A 7th DG set was commissioned in December, along with the sophisticated 'WENCOM' system to provide advance warning of abnormal conditions.

- The production of DAP suffered a set back due to non-availability of imported phosphoric acid, that of ABC was affected due to main plant problems. There was an overall production loss of 132 days on Acc. of failure of urea plant HP condenser, fired heater F101 coil failure & the time lost in replacement of syn gas turbine/primary reformer catalyst.

- The Comp. undertook a rehabilitation programme with the help of financial institutions & banks.

- The Comp. undertook rehabilitation of original DAP plant, by making certain modification/addition to the plant to achieve a production of 45,000 tonnes of phosphorus pentoxide.

- Application for letter of intent was made by company during the year. The Comp. also undertook a thorough survey of the existing ammonia & urea plants for increasing their respective capacities.

- The ammonia & urea projects were to be set up by M/s. UHDE India Ltd., & Stamicarbon respectively.

- 30 Pref. shares redeemed on 31st January, 1989. Forfeiture on 3,350 No. of equity shares annulled. Rate of Pref. raised and redemption date extended to 5th October, 1992 & 7th January, 1993.

1989 - The Comp. proposed to replace the internals of ammonia converter with a modified state-of-art basket as it had developed leakages.

- Also, a modernisation plan for DAP II plant was drawn which involved retrofitting the plant with pipe reactor technology.

- It was also proposed to rehabilitate the defunct DAP plant by making appropriate changes in the technology & hardware to produce NP/NPK fertilizers.

- The Comp. proposed to set up phosphoric acid/sulphuric acid plants with foreign collaboration.

- During the year, requisite applications were made seeking letters of intent for manufacture of styrene butadiens rubber, HDPE/LLDPE, LDPE & polypropylene.

- The Comp. proposed to import raw materials for initial production of styrene butadiens rubber, HDPE/LLDPE, LDPE and polypropylene.

- The Comp. proposed to import raw materials for its initial production of above products & later on switch over to materials from the proposed Mangalore Refinery.

- The Comp. proposed to set up a down stream petrochemical plant for production of LDPE, LLDPE, HDPE, polypropylene, SBR, etc.

- 472,62,300 No. of Equity shares issued at par : 71,41,600 shares as rights in prop. 1:2; 1,20,500 shares to employees; 300,00,000 shares in conversion of loans & out-standings & 100,00,000 shares to KSIDC on private placement basis.

1990 - On the basis of bids invited, the State Government also with financial institutions & banks selected UB Group as a partner in management of Company.

1991 - A new high pressure carbonate condenser was installed in the urea plant in December.

- 388,32,702 No. of equity shares issued at par: 225,66,842 shares as rights in prop. 4:5, 34,565 shares to employees, 20,35,870 shares on private placement basis & 141,95,425 shares in conversion of funded interest to financial institutions.

1992 - During October, the Comp. issued 150,00,000 No. of equity shares of Rs 10 each at par on rights basis in the proportion 2:13. Another 7,50,000 shares of Rs 10 each were offered to the employees.

1995

-The chairmen of UB Group & SPIC have reached an agreement under which SPIC will join UB as a co-promoter in the rehabilitation of Mangalore Chemicals & Fertilisers Ltd.

-Submitted a Rs. 300 crores revival package.

-The bagging & transportation of Urea & DAP has come to standstill at the MCF from September due to sudden strike launched by about 45 stitching & packing workers.

-Suspended 10 workers in the first shift who were on strike for last 18 days demanding the termination of loading contractor.

1996

-The Board for Industrial & appointed the Industrial Development Bank of India as an operating agency for purpose.

-The Board for Industrial & Financial Reconstruction [BIFRs] has ordered a change in management of sick Mangalore Chemicals & Fertilisers Ltd [MCFLs] a Comp. promoted by Vijay Mallya Unite Breweries group.

- Appellate Authority for Industrial & Financial Reconstruction [AAIFRs] has dismissed the appeal of Mangalore Chemicals and Fertilisers Ltd [MCFs] as withdrawn.

-Workers union affiliated to Intuc has decided to participate in the open bid to take over the administration of MCF in association with other co-operatives.

-Karnataka Government on 15.2.96 asked the private owned Mangalore Chemicals & Fertilisers limited

1997

-Signed a memorandum of understanding [MoUs] with the MCF workers union revising wages

-Offered to acquire a majority stake in Vijay Mallya sick Mangalore Chemicals and Fertilisers.

-Achieved the highest ever production of 3.42 lakh tonnes urea corresponding to 101 per cent of rated capacity.

-Awarded the prize for best improvement in overall performance for 1996-97 by Fertilizer Association of India.

1998

-The Penambur unit of Mangalore Chemicals & Fertilizers [MCFs] has commenced production after a month-long shutdown due to breakdown of certain critical equipment

-MCF records 44pc rise in sales, net up at Rs 17.33 cr

-Receives Fertiliser Association of India Award for improvement in its overall performance for year 1997-98 according to a press release from the company.

1999

-Financial institutions have rejected a proposal by Vijay Mallya-controlled Mangalore Fertilisers and Chemicals [MFCLs] for a one-time settlement of outstandings

-Dispatched the `first batch' of finished products including superior kerosene oil [SKOs] & high-speed diesel [HSDs] to Hindustan Petroleum Corporation Ltd [HPCLs]

2000

- Board for Industrial & Financial Reconstruction [BIFRs] has sanctioned a rehabilitation scheme for Mangalore Chemicals & Fertilisers Ltd [MCFLs], promoted by UB Group. Also, the Industrial Development Bank of India [IDBIs] has been appointed as the monitoring agency [MAs] to review the progress of implementation of sanctioned scheme.

-Reliefs sought for revival of Mangalore Chemicals and Fertilisers a UB group Comp. were taken up at a high-powered meeting of Industries Department

-Urea plant has been shut down following an accident on February 9 which resulted in the death of two persons.

-Two people were killed & six injured in a gas leak-related explosion at the Panambur unit

-Board for Industrial & Financial Reconstruction [BIFRs] has directed Vijay Mallya controlled sick industry Comp. to submit a comprehensive revival proposal with the means of finance fully tied up.

-Company has received ROC permission

2001

-Wiped off its accumulated losses of Rs 169.39 crore

-Production of urea trucks loaded with Mangala urea rolled out of MCF factory at Panambur

-VRS was introduced as per the BIFR Scheme.

-Urea Production was stopped on 6.3.2001 after achieving the installed capacity.

2002

- Karnataka High Court stayed the govt order on downward revision of urea retention price with retrospective effect

-Organised one of its periodic on-site `mock drills' at its Panambur unit, to help the organisation `to keep people & material in all preparedness to undertake any emergency effectively.

2003

-Approves to voluntarily delist its shares from Mangalore & Madras Stock Exchange.

-MCF negotiation with workers fails

-Awarded ISO 14001:1996, the environmental management system standard certificate, for its fertiliser complex at Panambur in Mangalore.

2004

-Mangalore Chemicals and Fertilisers Ltd has informed that it has filed an application for permission before the Government of Karnataka for closure of its di-ammonium phosphate plant situated at Panambur, Mangalore due to the continued unremunerative nature of its operations.

- SBI Capital Markets appointed as lead arranger for Mangalore Chemicals and Fertilizers to structure funding of proposed Rs 360 crore metallurgical coke production plant

2006 -Mangalore Chemicals and Fertilizers Ltd has informed that the Board of Directors of Comp. at its meeting held on October 27, 2006 has appointed Mr. K Prabhakar Rao, Vice President-Manufacturing as a Whole-time Director of Company.