Scripscan:Hardcastle & Waud Manufacturing Company Ltd
cmp:650
Code:509597
Story:As a part of the continuing process of business re-engineering the Company discontinued its activity of manufacturing synthetic resins during 08-09.This coupled with sale during the last year of the Companys Sealants & Maintenance Products business and the general slow-down in the economy has impacted the turnover of the Company during the year (Rs 1362.80 lacs against last years Rs 3434.96 lacs).However, the profit before depreciation and without considering income generated from sale of fixed assets at Rs 83,10 lacs compares favourably against last years Rs 74.22 lacs.As for outlookfor the current year, it is difficult to make a forecast atthis stage in view of the uncertain prospects of the economy even though there is a cautious sense of optimism in government and other agencies concerned.The Company has invested Rs 208.40 lacs in the equity capital of Global Trendz Retail P.Ltd, which isengagedin the wholesale business of readvmade garments. The said company became a subsidiary of your company for a brief period during the year.but has ceased to be so with effect from 29th January, 2009.Nothing is left in the company which can deserve a mention.It has a very tiny equity which can help operators to make it buzz bigtime without any fundamental resons.Dont waste your time clinging on to this crap,sell and switch to better bets.
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