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Kinetic Engineering Ltd.

BSE: 500240 Sector: Auto
NSE: KINETICENG ISIN Code: INE266B01017
BSE 00:00 | 24 Apr 2020 Kinetic Engineering Ltd
NSE 05:30 | 01 Jan 1970 Kinetic Engineering Ltd

Outcome of Board Meeting

May 29, 2013, 10:11 am | Source: BSE

Kinetic Engineering Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 28, 2013 inter-alia, was transacted :

1. The Board approved and adopted the Audited Financial results of Kinetic Engineering Limited for the financial year ended 31st March, 2013. The results as approved and announced were merged results after the amalgamation of Kinetic Motor Company Limited with the Company.

2. Taking into effect the amalgamation of Kinetic Motor Company Limited with the Company, The company earned a total revenue of Rs. 17.80 crores for the quarter ended March 31, 2013 and Rs. 80.22 crores for the financial year ended March 31, 2013 and a net profit of Rs. 5.08 crores for the quarter ended March 31, 2013.

3. The Board also took note that Company has entered into a Technical Agreement with the global leader Magna Styer India Pvt Ltd ( MSIA). which is a part of $30 billion Magna Group, for a low cost high quality manufacturing of transmission components & gearbox assemblies and shafts, small engines, complete AMT (automated manual gearbox) assemblies. It will not only strengthen Company's expertise, but also get access to various clients globally which shall open a door for numerous opportunities way ahead.