Latest news with #CompositeSchemeofArrangement
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Business Standard
02-08-2025
- Business
- Business Standard
JK Lakshmi Cement Q1 results: PAT rises 2-fold to ₹150 cr, income up 12%
JK Lakshmi Cement Ltd has reported over twofold increase in consolidated net profit at ₹149.88 crore for the June quarter of 2025-26 financial year. The company, which completed the merger of subsidiary Udaipur Cement Works, had posted a profit of Rs 56.68 crore in the April-June period a year ago, according to a regulatory filing from JK Lakshmi Cement Ltd (JKLC), a flagship company of JK Organisation. Total income was up 11.8 per cent at ₹1,763.14 crore in the June quarter, helped by volume gains. It was at ₹1,576.96 crore in the corresponding quarter. Chairperson & Managing Director Vinita Singhania said, profitability of the company improved on account of higher volume, better product & market mix and reduction in fuel cost." JK Lakshmi Cement's sales volume in the June quarter was at 3,326 lakh tonne, up nearly 10 per cent year-on-year. Total expenses of JK Lakshmi Cement were at ₹1,559.26 crore, up 6.68 per cent from the year-ago period. The company said the merger with Udaipur Cement Works Limited (UCWL) will strengthen its footprint in the Indian cement sector. "The merger, approved by the Boards of Directors of both companies, is aimed at simplifying the group structure, enhancing operational efficiencies, and realising long-term synergies. The consolidation will enable optimal utilisation of resources, improved logistics and supply chain management, and a unified approach to customer and market engagement," it said. The company's Composite Scheme of Arrangement has been approved by the National Company Law Tribunal. The scheme has become effective from July 31, 2025. JK Lakshmi Cement has a capacity of about 16.5 million tonne per annum.
News18
07-05-2025
- Automotive
- News18
Tata Motors Demerger: Shareholders Give Green Signal; What's Next? Check Ratio And Effective Date
Last Updated: Tata Motors Demerger Update: Shareholders of Tata Motors approved the demerger proposal with a majority vote. What's next for investors? Tata Motors Demerger Meeting: Shareholders approved the proposal, check ratio and other details. Tata Motors Demerger: Tata Motors' shareholders on Tuesday approved the demerger proposal of separating the auto manufacturer into two listed entities – commercial vehicle and passenger vehicle. The resolution for the Composite Scheme of Arrangement was passed with the requisite majority, with a total of 2,730,875,858 votes polled. Out of these, 2,730,862,142 votes (99.9995%) were in favor, and 13,716 votes (0.0005%) were against. With shareholders' approval, the way for the demerger of the company has been cleared. On Wednesday, investors welcomed the move as shares gained 4 per cent to become the top gainer of Nifty 50 index. But there's a question among investors about what will happen next and when it will become effective. Let's know more about it. Tata Motors Demerger Plan Details According to the plan, Tata Motors Limited (TML) will split its Commercial Vehicle business, including all its assets, liabilities, employees, and related investments, into TMLCV. Meanwhile, the Passenger Vehicle business in TMPV will merge back into the existing listed entity TML. When the Scheme takes effect, both TMLCV and TML will be renamed, resulting in two separate listed entities: 1) The Commercial Vehicle business and related investments under TML, and 2) The Passenger Vehicle business, including the Electric Vehicle (TPEM) business, JLR, and related investments, under TMPV. August 01, 2024: Tata Motors' board approved the Scheme of Arrangement (the demerger scheme). March 25, 2025: The National Company Law Tribunal (NCLT), Mumbai Bench, ordered a shareholders' meeting to consider the demerger. March 28, 2025: It is fixed as cut-off date for determining shareholders eligible to vote on the demerger. May 06, 2025: Shareholders gave the green nod to the demerger proposal. Tata Motors Demerger Effective Date Tata Motors in Q3FY25 investor presentation informed that the company is expected to implement the demerger between October and December 2025. First Published: May 07, 2025, 16:44 IST
