Nikhil Nanda has been booked in a fraud and abetment to suicide case. The Dataganj Police in Uttar Pradesh’s Badaun district have registered the case against him and several officials from a tractor company.
In an interview with CNBC-TV18 Nikhil Nanda said that the company is at an inflection point and sees rapid growth in the coming years.
Escorts will now focus on core agriculture (tractors), construction and railways businesses says Managing Director Nikhil Nanda speaking to CNBC-TV18 after the company announced divestment of its automobile parts business.
Commenting on the development, Escorts Ltd Chairman Rajan Nanda said: "Menon's induction brings cross-industry experience and a strong understanding of the different aspects of enterprises and Sridhar's movement to ECE would help further strengthen the process of integration in key areas."
Nikhil Nanda, MD, JHS Svendgaard Laboratories says the dilution of the company will be such that the promoter stake will rise to 45 percent from the current 37 percent.
Net sales of the company declined to Rs 797.83 crore during the second quarter, as against Rs 986.60 crore in the same period of previous fiscal, Escorts Ltd said in a statement.
Escorts has presence in almost all the rolling stock segments of passenger coach, locomotive, wagons, EMUs and metro.
The company had posted net profit of Rs 34.11 crore during the same period of previous fiscal. Net sales of the company declined to Rs 973.22 crore during the April-June quarter, compared to Rs 1,122.10 crore in the same period of 2014-15, Escorts Ltd said in a filing to the BSE.
The multi-year, multi-million dollar engagement spans all of Escort's businesses, including agri-machinery, material handling and construction equipment, railway equipment and auto components, Escorts Ltd said in a statement.
The company had reported a net profit of Rs 31.78 crore during the same period of previous fiscal.
JHS Svendgaard Laboratories will allot 5 lakh shares on preferential basis to promoter Nikhil Nanda at Rs 97.75 per share, reports CNBC-TV18.
In an interview to CNBC-TV18, Nikhil Nanda, managing director of JHS Svendgaard Laboratories says, the company has taken price hike to protect its margins.
Tractor maker Escorts' consolidated net profit for 2010-11 [October-September] declined 4% year-on-year to Rs 126.39 crore, on the back of rising cost of raw materials and high interest charges among other things.
JHS Svendgaard rallied as the company planned to resume export of tooth brushes. It had also closed a deal with Amway to sell the tooth brushes. The company hiked prices by the end of this quarter on account of increase in raw material based on the input material that it uses for each of the customers.
In an interview with CNBC-TV18, Nikhil Nanda, MD, JHS Svendgaard talks about the latest happenings in his company and sector. For complete details watch the accompanying video.
Nikhil Nanda, managing director, JHS Svendgaard in an interview to CNBC-TV18 said, the company's margins are under tremendous pressure because of prices of most of its raw materials are increasing on a regular basis.
JHS Svendgaard Laboratories has decided to do a preferential allotment of 25,00,000 equity shares to Tano Mauritius India FVCI at a price of Rs. 97.75. Tano Mauritius will hold about 14.8% in the company, Nanda says.
Nikhil Nanda, MD of JHS Svendgaard, in an interview with CNBC-TV18’s Reema Tendulkar and Ekta Batra, spoke about the recent happenings in the company and the future ahead.
In an interview with CNBC-TV18, Nikhil Nanda, MD, JHS Svendgaard, speaks about the results and gives his outlook going forward.