Sep 12, 2013, 05.44 PM IST | Source: CNBC-TV18

Firmly in control of Mangalore Chemicals: Vijay Mallya

In one of the interactions, Mallya said that the group was confident of reaching out-of-court settlements for some of the winding up petitions. Mallya also asserted that the UB Group was firmly in control of Mangalore Chemicals and Fertilizers.

In the firing line due to the UB Group's pile of woes, group chairman Vijay Mallya addressed the shareholders of some of the group companies today. In one of the interactions, Mallya said that the group was confident of reaching out-of-court settlements for some of the winding up petitions. Mallya also asserted that the UB Group was firmly in control of Mangalore Chemicals and Fertilizers .

"There are 5 winding up petitions that have been filed before the company court  in Bangalore, and out of these five, we have serious counter claims against three of the petitioners, which basically leaves two petitioners with whom we are in dialogue for an out of court settlement," Mallya says.

He also informs: "The honourable court was pleased to grant us permission to go ahead with the Diageo deal but directed us to deposit Rs 250 crore in the court to take care of these 5 winding up petitions, which we have dutifully done."

Mangalore Chem stock price

On April 23, 2014, Mangalore Chemicals and Fertilisers closed at Rs 66.05, up Rs 4.10, or 6.62 percent. The 52-week high of the share was Rs 73.00 and the 52-week low was Rs 35.85.


The company's trailing 12-month (TTM) EPS was at Rs 3.56 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 18.55. The latest book value of the company is Rs 49.21 per share. At current value, the price-to-book value of the company is 1.34.

Set email alert for
Mangalore Chem Kingfisher Air United Spirits

ADS BY GOOGLE

Buy & sell politicians on Power Play
- the political stock exchange

Price Update

Arvind Kejriwal

1742.85 12.09 0.70%

26330

Bought today

8528

Sold today

0.22%

User holding

video of the day

Add cyclicals, banks on positive poll outcome: UBS

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.