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Soundcraft Industries Limited
Sector:Others Others - Miscella - Others
Market Lot: 1Face Value: 2ISIN Demat: INE271A01027
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Business Profile
Soundcraft Industries (SOUNDCRA), incorporated in 1985, has been engaged in international and domestic trading activities. Formerly known as Soundcraft Marketing Projects and Finance, it acquired its present name on Feb. 24, 1995.

Diamonds, precious stones, granites, computer software and hardware and electronic products were traded in the international as well as domestic markets. A government-recognized export house, the company had entered into exclusive tie-ups with quarry owners for unhindered supply of marble, granite, ruby red granite polished tiles, green polished tiles, and other products. Export destinations included the Middle East, West Asian and African countries. In order to give further boost to export, it set up overseas liaison offices in USA and UAE.

With 35 cases under Company Law and 9 under the Indian Penal Code, the Serious Fraud Investigation Office (SFIO) recommended winding up activities on grounds of suspension of business activities for more than a year and inability to pay debt. The Securities and Exchange Board of India (SEBI) after due investigations had restricted purchase or sale of shares of the company and it is suspended from the BSE on account of noncompliance with listing agreement clauses.

The registered office is at Narayan Building, 23, Lakhamshi Napoo Road, Dadar, Mumbai-400014.

Soundcraft Industries reported a growth in standalone net profit for the quarter ended March 2004. During the quarter, the profit of the company rose marginally 9.96% to Rs 126.61 million from Rs 115.14 million in the same quarter last year.
Net sales for the quarter rose marginally 12.15% to Rs 1,910.46 million, while total income for the quarter rose marginally 14.29% to Rs 1,947.33 million, when compared with the prior year period.
The company posted an earnings per share of Rs 1.56 for the quarter ended March 2004.

In Brief

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