Reliance Mediaworks Partners Japan’s Imagica Corp – To provide Film Restoration, Image Processing and HD Conversion Services
Filed under: Arts, Asia-Pacific, Business, JVs, New Media, Software, Technology
Mumbai/LA/Tokyo; March 17, 2010 – Reliance MediaWorks Ltd., India’s fastest growing film and entertainment services company and a member of the Reliance ADA group has concluded an Memorandum of Understanding (MOU) with IMAGICA Corp, Japan’s largest lab and post-production company that has provided high-quality one stop services, from shooting to distribution, since its foundation in 1935.
Under the alliance, the companies would provide Film Restoration, Image Processing and Enhancement and HD Conversion services to Japanese Broadcasters and Studios.
IMAGICA Corp. offers a comprehensive range of services such as film processing and printing, inter-media transfer, digital and optical composite, VFX, CGI, editing and sound services, DVD authoring and duplication, and image restoration, etc. The company also leads the market with high quality services for Digital Intermediates, Digital Cinema, Stereoscopic 3D, and Blu-ray disc authoring. Read more
NPCIL and L&T Flag off Venture for Special Steels and Ultra Heavy Forgings
Filed under: Asia-Pacific, Energy, Manufacturing, Technology
One of World’s Biggest High Tech Forging Facilities
Surat, India, January 09, 2010: The Nuclear Power Corporation of India Limited (NPCIL), a Government of India Company responsible for design, construction, commissioning and operation of nuclear power plants and Larsen & Toubro (L&T), India’s leading engineering, manufacturing & construction major have laid the foundation stone for their world class steel manufacturing & heavy forging plant.
On 30th November 2009, L&T and NPCIL had announced the formation of a joint venture company to produce special steels and ultra heavy forgings. Read more
India and China To Boost LNG Demand in 2010
Incessant rising energy demand from emerging markets, especially China and India, will boost the global LNG industry in coming year.
(EMAILWIRE.COM, October 29, 2009 ) New Delhi, India – RNCOS has recently published a research report “Global LNG Market Analysis” which states that the global LNG market is expected to grow at robust pace in coming years on rising demand from both developed and developing countries. Statistics show that 2008 financial crisis has failed to make any major impact on LNG demand since countries worldwide have understood the significance of incorporating LNG in their energy bag in view of growing environmental concerns and depleting traditional energy resources. Thus, the global LNG demand is projected to grow at a CAGR of around 5% during 2009-2030. Read more
Ranbaxy Sells Out Promoter Stake To Daiichi – Creates Generic Pharma Gaint
June 11, 2008, New Delhi and Tokyo:
Ranbaxy Laboratories Limited (NSE/BSE: Ranbaxy/500359) (“Ranbaxy”), among the top 10 generic companies in the world and India’s largest pharmaceutical company, and Daiichi Sankyo Company, Limited (TSE: 4568.JP) (“Daiichi Sankyo”), one of the largest pharmaceutical companies in Japan, today announced that a binding Share Purchase and Share Subscription Agreement (the “SPSSA”) was entered into between Daiichi Sankyo, Ranbaxy and the Singh family, the largest and controlling shareholders of Ranbaxy (the “Sellers”), pursuant to which Daiichi Sankyo will acquire the entire shareholding of the Sellers in Ranbaxy and further seek to acquire the majority of the voting capital of Ranbaxy at a price of Rs737 per share with the total transaction value expected to be between US$3.4 to US$4.6 billion (currency exchange rate: US$1=Rs43). On the post closing basis, the transaction would value Ranbaxy at US$8.5 billion.
Mr. Malvinder Singh will continue to lead the company as its CEO and Managing Director while additionally assuming the position of Chairman of the Board, upon closure.
Daiichi Sankyo and Ranbaxy believe this transaction will create significant long-term value for all stakeholders through:
A complementary business combination that provides sustainable growth by diversification that spans the full spectrum of the pharmaceutical business;
An expanded global reach that enables leading market positions in both mature and emerging markets with proprietary and non-proprietary products;
Strong growth potential by effectively managing opportunities across the full pharmaceutical life-cycle; and
Cost competitiveness by optimizing usage of R&D and manufacturing facilities of both companies, especially in India
Mr. Malvinder Mohan Singh, CEO and Managing Directorof Ranbaxy Laboratories Limited, said “I am delighted to announce our association with Daiichi Sankyo, a leading research based pharmaceutical company that puts us on a new and much stronger platform to harness our capabilities in drug development, manufacturing and global reach. Together with our pool of scientific, technical and managerial resources & talent, we would enter a new orbit to chart a higher trajectory of sustainable growth in the medium and long term in the developed and emerging markets organically and inorganically. This is a significant milestone in our Mission of becoming a Research based International Pharmaceutical Company.
“The proposed transaction is in line with our goal to be a Global Pharma Innovator and provides the opportunity to complement our strong presence in innovation with a new, strong presence in the fast growing business of non-proprietary pharmaceuticals” said Takashi Shoda, President & CEO of Daiichi Sankyo Company, Limited.”This complementary combination represents a perfect strategic fit and delivers a considerable opportunity for the future growth of the new Daiichi Sankyo Group. While both companies will closely cooperate to explore how to fully optimize our growth opportunities, we will respect Ranbaxy’s autonomy as a standalone company as well. We respect and believe in the management skill of Mr. Malvinder Mohan Singh and we are happy that we can invite him to be a member of the “Senior Global Management” of Daiichi Sankyo, while he continues to lead Ranbaxy as its CEO and Managing Director; additionally, upon closing he would assume the position of Chairman of the Board.”
The SPSSA has been unanimously approved by the Boards of Directors of both companies. Daiichi Sankyo is expected to acquire the majority equity stake in Ranbaxy by a combination of (i) purchase of shares held by the Sellers, (ii) preferential allotment of equity shares, (iii) an open offer to the public shareholders for 20% of Ranbaxy’s shares, as per Indian regulations, and (iv) Daiichi Sankyo’s exercise of a portion or all of the share warrants to be issued on a preferential basis. All the shares/warrants will be acquired/issued at a price of Rs737 per share.
This purchase price represents a premium of 53.5% to Ranbaxy’s average daily closing price on the National Stock Exchange for the three months ending on June 10, 2008 and 31.4% to such closing price on June 10, 2008.
The closing of the transactions is subject to approval of shareholders of Ranbaxy and customary regulatory and statutory approvals. The acquisition is expected to be completed by the end of March, 2009. Upon completion of the transaction, Ranbaxy is expected to become a subsidiary of Daiichi Sankyo.
The deal will be financed through a mix of bank debt facilities and existing cash resources of Daiichi Sankyo.
It is anticipated that the transaction will be accretive to Daiichi Sankyo’s EPS and Operating income before amortization of goodwill in the fiscal year ending March 31, 2010 (FY2009). EPS and Operating income after amortization of goodwill are expected to see an accretive effect in FY2010 and FY2009, respectively.
Nomura Securities Co., Ltd., the Japan headquartered investment bank, acted as the exclusive financial advisor, Jones Day as the legal advisor outside India, P&A Law office as the legal advisor in India, Mehta Partners LLC as the strategic business advisor and Ernst & Young as the accounting and tax advisor to Daiichi Sankyo.
Religare Capital Markets Limited, a wholly owned subsidiary of Religare Enterprises Limited, is the exclusive financial advisor to Ranbaxy and the Singh family. Vaish Associates are the legal advisors to Ranbaxy and the Singh family.
Joint Press Conference
Daiichi Sankyo and Ranbaxy will host a joint press conference to discuss the transaction as follows:
On June 11 at 1:30 pm in New Delhi (JST 5:00 pm)
On June 12 at 3:00 pm in Tokyo (IST 11:30 am)
About Daiichi Sankyo Company, Limited
Daiichi Sankyo Company, Limited, established in 2005 after the merger of two leading century-old Japanese pharmaceutical companies, is continuously generating innovative drugs that enrich the quality of life for patients around the world. The company uses its cumulative knowledge and expertise in the fields of cardiovascular disease, cancer, metabolic disorders, and infection as a foundation for developing an abundant product line-up and R&D pipeline. For more information, visit www.daiichisankyo.com
About Ranbaxy Laboratories Limited
Ranbaxy Laboratories Limited, India’s largest pharmaceutical company, is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies. Ranbaxy’s continued focus on R&D has resulted in several approvals in developed markets and significant progress in New Drug Discovery Research. The Company’s foray into Novel Drug Delivery Systems has led to proprietary “platform technologies,” resulting in a number of products under development. The Company is serving its customers in over 125 countries and has an expanding international portfolio of affiliates, joint ventures and alliances, ground operations in 49 countries and manufacturing operations in 11 countries.
Disclaimer
Statements contained in this press release regarding the benefits of the acquisition, the business outlook, the demand for the products and services, and all other statements in this release other than recitation of historical facts are forward-looking statements. Words such as “expect”, “estimate”, “project”, “budget”, “forecast”, “anticipate”, “intend”, “plan”, “may”, “will”, “could”, “should”, “believes”, “predicts”, “potential”, “continue”, and similar expressions are intended to identify such forward-looking statements. Forward-looking statements in this press release include, without limitation, forecasts of market growth, future revenues, benefits of the proposed acquisition, expectations that the acquisition will be accretive to the results, future expectations concerning growth of business, cost competitiveness and expansion of global reach following the acquisition, and other matters that involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: difficulties encountered in integrating businesses; uncertainties as to the timing of the acquisition; approval of the preferential allotment/transaction by the shareholders of Ranbaxy; the satisfaction of the closing conditions to the transaction, including the receipt of regulatory approvals; whether certain market segments grow as anticipated; the competitive environment in the pharmaceutical industry and competitive responses to the proposed acquisition; and whether the companies can successfully develop new products and the degree to which these gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release.
This document does not constitute an offer to purchase or to sell securities in any jurisdiction.
Infosys Technologies projects $5 billion revenue in FY2009
Infosys Technologies has reported a year on year growth of 20.4 per cent to Rs4,542 crore for its quarter ended 31 March and a net profit after tax of Rs1,249 crore registering a YoY growth of 9.2 per cent. This was shared as part of announcing its Q4 and FY 2008 results.
The net profit for the quarter and year ended 31 March 2008 includes a reversal of tax provisions amounting to Rs20 crore and Rs121 crore respectively (Rs125 crore for the quarter and year ended 31 March 2007).
Infosys says excluding this reversal, the earnings per share for the quarter and year ended 31 March 2008 would have been Rs21.47 and Rs79.39 resulting in a YoY growth of 18.6 per cent and 18.7 per cent respectively.
Earnings per share increased to Rs21.83 from Rs20.30 for the corresponding quarter in the previous year; YoY growth was 7.5 per cent
Its operating margin stood at 32.54 per cent versus 32.60 per cent while projection was at 32.8 per cent. Other income was at Rs139 crore and tax provision reported at Rs 211 crore. BFSI contributed 33.9 per cent to Q4 revenues as against 36.8 per cent in Q3.
The company has added a new $300-million client in Q4 among the 40 clients during the quarter. Net addition of employees stood at 5947.
Consolidated results for the year ended 31 March 2008:
- Income of Rs16,692 crore for the year ended 31 March 2008; YoY growth 20.1 per cent
- Net profit after tax before exceptional item was Rs.4,659 crore for the year ended
- March 31, 2008; YoY growth was 20.8 per cent
Earnings per share before exceptional item increased to Rs81.53 from Rs69.11 in the previous year; YoY growth was 18.0 per cent
The company has announced a final dividend of Rs7.25 per share amounting to 145 per cent on par value of Rs5 per share, and a special dividend of Rs20 per share amounting to 400 per cent on par value for fiscal 2008.
Infosys says though its current financial policy is to pay dividends up to 20 per cent of net profits, its board has decided to increase the dividend pay-out ratio to up to 30 per cent of net profits effective fiscal 2009.
Guidance
FY09 revenues seen at Rs 19894-20214 crore
FY09 EPS at Rs 92.30-93.90
Q1 revenues seen at Rs 4570-4582 crore (up 21.1-21.4 per cent YoY)
Q1 EPS seen at Rs 20.73 Vs Rs 21.83 in Q4 (De-growth of 5 per cent QoQ and up 15 per cent YoY) (Rupee rate taken as 40.02 per dollar)
|
(In Rs crore) |
||||
| Result |
Dec-07 |
Sep-07 |
Jun-07 |
Mar-06 |
| Profit before depreciation and tax |
5646 |
4600 |
3133 |
2453 |
| Depreciation |
-546 |
-469 |
-409 |
-268 |
| Profit before Tax |
5100 |
4131 |
2724 |
2184 |
| Tax |
-630 |
-352 |
-303 |
-325 |
| Provisions and Contingencies |
- |
-2 |
- |
-0 |
| Profit after tax |
4470 |
3777 |
2421 |
1859 |
| Extraordinary Items |
- |
6 |
- |
45 |
| Net profit |
4470 |
3783 |
2421 |
1904 |
| Equity capital |
286 |
286 |
138 |
135 |
“The pricing environment remained stable during the quarter,” said S.D. Shibulal, Chief Operating Officer. “We continue to see greater growth opportunities in Europe. Our current utilisation level provides us enough flexibility to grow faster.”
Infosys said it had responded to emerging market needs by introducing new, value-added services, ‘learning services’ to addresses business problems that require a focus on underlying organisational learning needs. Current solutions include managed knowledge transfer, process adoption and sustenance, global sales effectiveness as well as enabling corporate universities and learning organizations to meet the needs of a global talent pool.
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