La Tim Metal & Industries Delivers a Robust Q2 and Half year 2021 Consolidated Earnings: PAT Up 90%, at Rs. 1220.39 Lakhs
MUMBAI, India, Nov. 16, 2021 /PRNewswire/ -- La Tim Metal & Industries (BSE: LATIMMETAL) (Script Code # 505693), a listed company has been in the steel trade since 1987 and deals with importing and trading of Colour Coated Steel Sheets, delivered a stellar performance Consolidated Revenue up by 46% half yearly to half yearly comparison, Net Profit up by 90% and EBITDA up 69%
The directors of the company Shri Rahul Timbadia and Kartik Timbadia have been in Steel Trade since 1972. Rahul Timbadia was Director of Bombay Iron Merchants" Association for about 9 years.
"The company's focus is on establishing the marketing for a pan India network of color coated steel. La Tim Sourcing (India) Pvt Ltd (a 100% subsidiary of La Tim Metal) started production of color coated steel in India from April 2018. After a sluggish start, the current year is looking bright with trade being serviced for our various branches in Chennai, Cochin, Jaipur and others.
The South of India is a very big market for us as it has a higher demand due to the fact most of the main plants like Jindal Steel, AMNS Steel, Tata Steel etc. are located either in Eastern, Western and Northern India. We cater to this market through goods from our factory sent through the coastal route. This has turned out to be an extremely viable and profitable model for us.
We continue to see and foresee substantial economic growth in India in the years to come. Steel is a commodity that is directly linked and proportionally connected to the growth of a nation.
We are in the constant search and lookout for worthy partners and investors who can help us leverage this market and model and create a dynamic strategy towards exponential growth" said Rahul Timbadia
One of the key developments is that La Tim Metal is looking at Backward Integration as the next form of expansion.
Performance Highlights
|
LA TIM METAL & INDUSTRIES LIMITED
|
|
(FORMERLY KNOWN AS DRILLCO METAL CARBIDES LIMITED)
|
|
Registered Office: 201 , Navkar Plaza, Bajaj Road, Vile Parle (West), Mumbai - 400056
|
|
CIN:L99999MH1974ULL017951
|
|
Tel. 26202299 / 26203434 Fax: 022 - 26240540, Email: accounts@latimmetal.com, Website: www.latimmetal.com
|
|
Statement of Unaudited Results for the quarter and half year ended 30th September, 2021
|
| |
Particulars |
Consolidated |
| Quarter Ended |
Half Year ended |
Year ended |
| 30.09.2021 |
30.06.2021 |
30.09.2020 |
30.09.2021 |
30.09.2020 |
31.03.2021 |
| |
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Audited) |
| 1 |
Total Income from Operations (net) |
14,460.31 |
9,996.39 |
11,330.91 |
24,456.70 |
16,761.93 |
39,898.63 |
| 2 |
Net Profit / (Loss) for the period (before Tax, Exceptional items |
500.29 |
978.66 |
690.57 |
1,478.95 |
697.20 |
1,874.45 |
| 3 |
Net Profit / (Loss) for the period before tax (after Exceptional items) |
500.29 |
978.66 |
690.57 |
1,478.95 |
697.20 |
1,874.45 |
| 4 |
Net Profit / (Loss) for the period after tax (after Exceptional items) |
367.81 |
852.59 |
641.64 |
1,220.39 |
642.51 |
1,760.78 |
| 5 |
Total Comprehensive Income for the period [Comprising Profit / (Loss) for the period (after tax) and Other Comprehensive Income (after tax)] |
367.81 |
852.59 |
641.64 |
1,220.39 |
642.51 |
1,760.56 |
| 6 |
Equity Share Capital |
883.14 |
883.14 |
883.14 |
883.14 |
883.14 |
883.14 |
| 7 |
Earning per share of Rs. 10/- each |
|
|
|
|
|
|
| |
Basic (in Rs.) |
4.16 |
9.65 |
7.27 |
13.82 |
7.28 |
19.94 |
| |
Diluted (in Rs.) |
4.16 |
9.65 |
7.27 |
13.82 |
7.28 |
19.94 |
The above is an extract of the detailed format of quarter and half year ended financial results filed with the Stock Exchanges under Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. These financial results were reviewed by the Audit Committee, and were approved by the Board of Directors, in their respective meetings held on 12th November, 2021.
About La Tim Group
La Tim Steel imports and trades in colour coated steel sheets. It also owns and operates a manufacturing unit in Umergaon, Gujarat. La Tim Group are also in the business of Real Estate and Hospitality.
Its real estate division 'La Tim Lifestyle & Resorts' initiated land trading and real estate development from Panvel and its surrounding areas. Currently, La Tim has a land bank in excess of 1000 acres spread out along the Khopoli Pali Road (State Highway 92), which is approximately 90 kms from Mumbai and 95 kms from Pune.
Some of its current projects includes Samruddhi Farms – A Community Farming Initiative, Vasudha Estate – NA Plots, Vasudha Orchard – Agricultural Plots, Vasudha Waters – Pre-Fab Homes & Newly Launched Serenity Two.
La Tim Hospitality includes the well-known 'SAJ Resorts' brand which owns hotels in stunning locations such as Mahabaleshwar and Malshej Ghat, while also developing an upcoming hotel in Pench Tiger Reserve, 95 kms from Nagpur. Additionally, it operates fine dining restaurants in Goa.
Contact Details
Shalini Khosla
info@latimlifestyle.com
+(91) 22 26203434 / 26202299
Image: https://mma.prnewswire.com/media/1689539/La_Tim_Metal_Industries.jpg
Logo: https://mma.prnewswire.com/media/1689538/La_Tim_Metal_Industries_Logo.jpg
(Disclaimer: The above press release comes to you under an arrangement with PRNewswire. PTI takes no editorial responsibility for the same.) |