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K M Philip, MRF Director, passes away
Chennai: K.M. of MRF Limited, the first Asian to become a full-time director and president of the World Federation of Young Men’s Christian Associations (WFYMCA), died here today at the age of 104. He was the sixth son of late K.C Mammen Mappillai, who was the Editor-in-Chief of Malayala Manor and recipient of the Lotus Medal and many national and international awards. The burial will take place tomorrow morning at Kiel Park Cemetery. K.M Philip His wife Chinnamma leaves behind him and two sons, Mammen Philip, Director of M.M Rubber Limited. Chennai and Dr. Peter Philip, Director, Malayala Estate, Mumbai and Managing Director, Coffee and Tea Distribution Company of India. Philip was born on May 2, 1912 in Kottayam. He completed his primary education from MD School and CMSS College, Kottayam and later shifted to Loyola College, Madras where he earned a degree in Economics. Naturally kind, he was an active member of the YMCA and was the first person to be honored by...
HoganMacadam
48
May 30, 2024
TVS Srichakra rallies 20% on strong Q2 results
Mumbai: Shares of tire company TVSS Srichakra surged 20% in 2019 as the company reported impressive performance for the quarter ended September 2014 year. The company’s net profit soared to Rs 26.04 lakh crore in July-September 2014 from Rs 8.27 lakh crore in the same period last year. The total operating profit for the same period last fiscal was Rs 41.417 49.064 crore an increase of Rs 49.064 crore. The operating margin increased by 352 basis points to 10.3% from the previous year and recorded 61.9%, down 498 basis points from the previous year due to lower raw material prices. “Driven by improvement in the two-wheeler industry, we expect the company to achieve 13.9% CAGR growth in sales. angel Broking expects to realize operating profit in FY2016 on the back of lower rubber prices and higher aftermarket share in 2016. Hence, based on the current market price, the stock is expected to trade at 2016 based FY net profit of 8.8 Double trading, based on its target P...
MerryBarton
47
May 30, 2024
Michelin Tweel production begins
Michelin Tire innovates Twel Piedmont, S.C., plant to put branded tires into production. Tweel will first be used in commercial applications. The new factory investment of $ 50,000. $ 10,000 million. The concept of Tweel was developed by the Michelin U.S. Research Center in Greenville, South Carolina. Tweel It is a non-pneumatic tire that combines a tire and wheel assembly into a unit. TWEEL It consists of a rigid wheel hub connected to a shear beam by flexible deformed urethane spokes, all of which operate as a unit. Because the tweel has no air, there is no need to worry about tire leaks, a problem that plagues road applications such as construction, landscaping, trash/recycling, and agriculture. The new plant will allow Michelin to increase production of its multi-award winning Michelin X Tweel SSL sliding steer tire and begin production of the new Michelin “The TWEEL airless radial tire sets us apart from our competitors,” said Ralph Dimenna, director of ...
MonaPoe
43
May 30, 2024
How Goodyear Tire plans to procure silica at low-cost
U.S. tire maker Goodyear Tire & Rubber Co. plans to use silica extracted from rice husk ash, which is cheaper than extracting it from sand. Silica also helps reduce the rolling resistance of tires by about 20% compared to conventional carbon black-filled tires. Nabeel A Khan recently met with Surendra Chawla, Goodyear’s global head of research and development, who has been with Goodyear for 34 years. He said Goodyear is working with NASA on airless tires. Excerpts from the interview: How did the idea of extracting silica from rice husks come about? What are the advantages of this technology? The concept was presented at the U.S. Small Business Innovation and Research Conference. Here we saw a small entrepreneur come up with the idea of extracting silica from rice husk ash. So our instinct was to look for these opportunities in rice-growing regions such as China, India, Brazil and even the United States. We found scientists at many research institutes working to extr...
MosesYoung
44
May 30, 2024
Dunlop India not a fit case for takeover, says Chandan Mitra
Kolkata: Bharatiya Janata Party (BJP) MP and Standing Committee Chairman Chandan Mitra told a press conference on Monday that Dunlop India can no longer be in power. “If it had happened earlier, this would have been a proper case of acquisition. These machines are now useless. The investment required to run them is risky for the state and even the central government,” Mitra quelled speculation last week. The central government may take over the company. Mitra said the 31-member parliamentary committee basically tried to study the potential and situation of the rubber and tire industry. For this purpose, the committee visited Kolkata case and toured the Indian rubber and tire industry. Dunlop India factory is located in Hooghly district. During the visit, the committee held discussions with the company management and trade unions. The management, including the plant’s CFO, attended the meeting, but Chairman Pawan Ruia was not present. “We were expect...
GabrielStrong
44
May 30, 2024
Balkrishna Industries: A long-term bet after the recent correction
Balkrishna Industries has reported a drop in revenues by around 40% following poor performance in the second quarter of 2014-15. The tire company’s net profit declined 17% year-on-year and 22% sequentially. The decline in net profit was mainly due to volume decline in Europe which accounted for about 50% of sales and discounts by customers to compensate for lower natural rubber prices. Balkrishna Industries We could not capitalize on the fall in natural rubber prices in the second quarter as the company had large stocks of rubber to buy at higher prices. Rising employee cost is another factor after the Gujarat plant part of the new tire commissioning plant (150 homes produced annually) One lakh tires. The recent price correction has raised the valuation of Bakrishna Industries to a reasonable level. In addition to falling prices, analysts are optimistic about improving fundamentals for the niche company. The Pujai plant is expected to be fully operational by April 2015 ou...
GilbertBeerbohm
49
May 30, 2024
No final plan yet for Kesoram business restructuring
Kolkata: B K Birla’s flagship company Kesoram Industries is working on a restructuring plan to get out of its financial woes but is yet to take a ‘firm’ decision. Kesoram Minister Gautam Ganguli told the Press Trust of India (PTI), “‘Committee level’ discussions are on for operational restructuring. No final decision has been taken yet.” He was responding to Kesoram’s rumors that it may sell its Uttarakhand plant. This plant is the base of Berilla Tires’ manufacturing facilities in the country. According to sources, the restructuring committee comprising two outside directors and vice-chairman Manjushree by Khaitan is expected to take a decision in the next two to three months. The committee plans to review options such as a public offering, another paid-up capital increase, tire partially split and hiring a strategic partner. The first 9 Interest burden for 2014-15 has widened to Rs 28.8.8. crore from Rs 28.8.8 cr...
AlmaWheatley
48
May 30, 2024
JK group Chairman chief patron Singhania passes away
KANPUR: JK Group chairman Gaur Hari Singhania passed away today. Heart attack. Singhania (80) was the President of JK Organization and Promoter Director of JK Cements Limited since 1994 when JK was self incorporated. A sports enthusiast, he is also a major supporter of JK Cements Ltd. Uttar Pradesh Cricket Association (UPCA). He was predeceased by his son Yadupati Singhania. He was cremated at Bhagwat Das Ghat in the city this afternoon. CMD of Jagran Prakashan Mahendra Mohan Gupta expressed his condolences and said Singhania He was a true supporter of the city of Kanpur in 1935 and he was born on June 12, 1935 in Kanpur. Gupta, former president of Uttar Pradesh Chamber of Commerce and Industry said, “Golbabu not only promoted sports related activities in Kanpur and the state but also participated in all industrial activities and made the city proud.” . Gupta added, “Singhania not only managed the family business but also promoted cricket and other...
VeronicaRicardo
63
May 30, 2024
Ceat Sharpens Focus to Get Back in Game
By Sriram Ramakrishnan Mumbai: One day in 2011, Anant Goenka, son of Harsh Goenka, chairman of the RPG Group, had a quiet conversation with Jain, chief investment officer of HDFC Mutual Fund, the father of Indian mutual funds. Goenka What investors know about RPGG Group tire manufacturing company Ceat. Ceat stock did well during the 2004-08 bull market, outperforming large competitors like MRF and Apollo Tires. Net profit and sales grew well, but Geyinka knew there was a problem. Ceat It’s not a market leader in any segment. Its largest source of revenue is truck tires, a low-margin, highly competitive market segment. Many investors don’t understand the company or the business. Coverage is low or non-existent, and few investors include prominent or foreign investors. Geyinka wanted to change that and was looking for answers. He had a plan to turn around Hite’s fortunes and presented it to Jayne. The plan was simple and straightforward, disclosed to top manage...
MaureenSally
69
May 30, 2024
CEAT signs 3-year bat endorsement deal with Suresh Raina
NEW DELHI: Tyre maker CEATT Ltd today said it has signed a three-year bat warranty agreement with Indian cricketer Suresh Raina. In a statement, the company said that under the agreement, Raina CEAT will be used on the bats for the India-South Africa series from tomorrow Logo. Anant Goenka, Managing Director, CEAT “We strategically targeted Raina considering she is one of the youngest and most dynamic players in the Indian cricket team. He is a perfect candidate as he reflects reliability and enthusiasm. This is the energy that CEAT symbolizes.” The association is promoted by IOS Composition Sports and Entertainment Pvt Ltd (Raina Management Company).
QuintionMartin
43
May 30, 2024
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