Company Profile For Modern India Ltd

Modern India Ltd (MDRM.BO) (Bombay Stock Exchange)

sector: Financials · industry: Real Estate Operations ·

As of 24 Nov 2009

165.00INR

Price Change

+0.70

Percent Change

+0.43%

Analyst Recommendations

Overview

Modern India Limited (MIL) is an India-based company engaged in real estate business. The Company operates in three segments: Real Estate, Business Centre and Trading. Central Bombay Infotec Park Joint Venture arm of Modern India Limited is running Business Centre named Modern Centre. Trading activities consist of cloth, yarn, software/Revo Milling machine, sponge iron, galvanized iron sheets and pipes. On January 1, 2009, the Company terminated its joint venture agreement with Gitanjali Gems Limited, and in pursuance of the same it has sold its interest in Modali Gems Private Limited in March 2009. In June 2009, the Company disinvested its entire holding in Modern India Realty & Infrastructures Ltd.

Quick Financial Synopsis

BRIEF: For the fiscal year ended 31 March 2009, Modern India Limited's revenues increased 19% to RS2.69B. Net income totaled RS28.3M vs. a loss of RS25.5M. Revenues reflect an increase in sales from Textiles and Business center segments. Net income reflects a decrease in finance charges due to lower other interest & financial expenses, lower depreciation expenses and a decrease in real estate business purchases expenses.