Tuesday, 27 June 2017

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.
(Read more – Scheme of Amalgamation)


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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