Visagar Polytex Q1FY16 Net up 26.26%

Mumbai based Visagar Polytex Limited, engaged into manufacturing, retail and trading of women’s ethnic wear reported its results for the quarter ended June 2015.

The company’s revenues stood at Rs. 22.33 crore, up 20.12% compared to Rs. 18.59 crore in the same quarter last year.

Company’s net profit witnessed 26.26 % growth at Rs. 1.25 crore vis-à-vis Rs. 0.99 crore for the quarter ended June FY15.

The EPS of the company stood at Re.0.07 for the quarter ended June 2015.

The company has changed its fiscal year ending period to March from June earlier.

The company markets its products under the brand name VIVIDHA and currently has a 2000 square feet flagship store in Kolkata. The company also recently opened VIVIDHA showroom in Jaipur to provide a premium shopping experience.

The Company has declared a final dividend of Re. 0.03 per share being 3% on 184,650,400 Equity Shares of Re. 1/- each for the Nine months period ended 31st March 2015 which shall be subject to approval of the Shareholders in Annual General Meeting of the Company.

Management’s comments:
Mr. Tilokchand Kothari CMD, Visagar Polytex Ltd said, “We have huge expansion plan ahead and aim to increase our retail store footprints to Madhya Pradesh, Gujarat and Maharashtra. We also plan to open about 200 stores in the next three years.”

The company currently has 13 stores in Rajasthan, West Bengal and Gujarat and also has wholesale presence in about 1500 stores.

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10 Best Small Cars in India

The introduction of Nano in Indian market has brought a revolution in the Indian auto market, the concept was clear that - affordable car for everyone. No matter how much you earn but if you wish you can purchase one small car for your family.

The auto market has been hit due to the hike in the interest rate by the Reserve Bank of India making auto loans more dearer for the customers.

Here are the top 10 small scars in India ( not as per any ranking or price):

1. Chevrolet Spark
2. Fiat Figo
3. Maruti Suzuki Alto
4. Maruti Suzuki WagonR
5. Maruti Suzuki Swift
6. Maruti Suzuki A-Star
7. Hyundai i10
8. Hyundai i20
9. Hyundai Santro Xingl
10. Tata Indica Vista

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Maruti Suzuki India Recalls One Lakh 'A-Star' Cars over 'faulty rubber gasket'

Business News This Week: The Maruti Suzuki India has reportedly found the 'faulty rubber gasket' in its small cars 'A-Star' manufactured before August 2009. The company has recalled one-lakh cars over this. According to media reports, the company has intimated to its customers through letters. However, the company reportedly also claimed that no complaints over this had been received.

According to sources the fault was discovered during the internal survey. This sort of recalling the manufactured cars were seen with major companies too in the international market. The A-Star model of Maruti Suzuki India was launched in India on November 19, 2008. Most of the customers having this model car would be eager to know more about any faults their owned cars.

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