Modern Insulators Limited (MIL) – Modern Group Company, ISO 9001 Certified, BSE Listed
Modern Insulators Ltd is part of
Modern Group which is one of the leading player in engineering and textile
segment. Modern Group has its 4 units located at Rajasthan and Gujarat, these
units has collaboration with renowned manufacturing companies from Germany and
UK in their respective fields.
Modern Insulator Limited (Also known
as MIL) is one of the leading manufacturer of high voltage porcelain insulators
in India. Incorporated in 1985 in collaboration with Siemens AG, Germany, MIL
has become one of the leading brand in the High Voltage Insulator segment.
Units: Abu Road, Rajasthan
Listing Status: Modern Insulators Limited (MIL) is listed on
BSE. Due to some penal and compliance reason the company was suspended from
trading. BSE Exchange has revoked the suspension on the company thus making it
live for trading. (BSE Code – 515008 Script ID – MOSINSU) and ISIN –
INE197301018.
Scheme of Amalgamation:
Modern Insulators Ltd has merged its
group company Modern Terry Towels Ltd taking into consideration the scheme of
amalgamation 1.1.2008. Shares are allotted to the shareholders of Modern Terry
Towels Limited as per the share exchange ration as on 28th March 2017.
Positive Aspects of Scheme of Amalgamation of
MTTL with MIL:
- MTTL shall have a positive net worth.
- MIL shall infuse resources in MTTL for its operational use aided by tax saving under u/s 72A and thereby increase its capacity utilization of terry towel plant above breakeven level.
- It will help MIL meet its liabilities and other debt requirements.
- MIL shall get tax benefit u/s 72A of Income Tax, this is enable MIL to generate additional cash surplus for infusion to MTTL for its rehabilitation.
- Overall there will be saving in admin cost as the two group companies shall be running under same management head.
Financial
Highlights – 4 Year (Fig. In Crs)
PARTICULAR
|
2017
|
2016
|
2015
|
2014
|
INCOME
|
520
|
468
|
423.45
|
463.90
|
PAT
|
30
|
29
|
16.64
|
14.07
|
EPS
|
6.34
|
13.43
|
7.65
|
6.47
|
EQUITY
|
47.14
|
21.74
|
21.74
|
21.74
|
FV
|
10
|
10
|
10
|
10
|
BOOK VALUE
|
47.53
|
121.79
|
108.00
|
100.62
|
Industrial PE – 44 & Average PE – 25
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