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Empire Industries Limited
Sector:Others Others - Miscella - Others
BSE:509525NSE:NABloomberg:EMIN@INReuters:EMPI.BO
Market Lot: 50Face Value: 10ISIN Demat: INE515H01014
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30-Jan-2015
Business Profile
Empire Industries (EMPIND), incorporated in 1900, is a conglomerate with diverse business interests and associated with several international partners through its divisions of glass, machine tools, chemicals, instrumentation, industrial equipment, life sciences, pharmachem, vending and real estate.

Vitrum Glass, a manufacturing unit in Mumbai, offers world-class amber glass bottles to the pharmaceutical, cosmetic, food and beverage industries. The machine tools division is engaged in the agency business covering sales, execution and service of hi-tech machines in metal forming, metrology, assembly lines, melting, welding, heat treatment and process consultancy. It sells metal cutting and allied technology machines to the automotive, defence and aerospace sectors.

The company markets bulk and specialty chemicals including active pharmaceutical ingredients and intermediates, and deals in high-value medical equipment. Representing specialty molecule manufacturers in the pharmaceutical sector from China and India, quality imported drugs and other pharmaceutical excipients are supplied to pharma industries. In FY07, it started importing and marketing hi-tech and high-end aesthetics equipment in the field of cosmetology. Launched in October 2006, the Grabbit range of automatic vending machines was introduced in India.

Equipment procured from world-renowned manufacturers are supplied to core industries like ports, oil and gas pipelines, power generation, refineries, petrochemicals, chemicals, fertilizers, pharmaceuticals, metallurgical, and forging. The real estate division looks after company-owned estates at Lower Parel and Vikhroli in Mumbai. It already has buildings with a total constructed area of 400,000 sq. ft. approximately. The company has regional offices spread across the country to facilitate market coverage.

The registered office is located at 414 Senapati Bapat Marg, Lower Parel, Mumbai-400013.


Financials
The company disclosed rise of 18.49% in standalone net profit on y-o-y basis to Rs 105.10 million, while total income rose 4.17% y-o-y basis to Rs 854.10 million for the quarter ended December 2014.

Recent Developments
13-MAY-14
ICRA has upgraded the long-term rating assigned to the fund based limits amounting to Rs. 129.7 million of Empire Industries (EIL) from BBB+ to A-. The outlook on the long term rating is stable.

08-NOV-13
ICRA has downgraded the long-term rating assigned to the fund based limits amounting to Rs 99 million of Empire Industries from 'A-' to 'BBB+'. The outlook on the long term rating is stable.

29-MAY-13
Empire Industries announced on Wednesday that its board of directors has recommended dividend of 240% or Rs 24 a share for financial year 2012-13.

29-JUN-11
Credit rating agency, ICRA has upgraded the long-term rating assigned to the fund based limits amounting to Rs 99 million of Empire Industries (EIL) from LBBB+ to LA-. The outlook on the long term rating is stable.



In Brief

 
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