Post Budget Comment - Dwarikesh Sugar Industries Ltd
Comment by Mr. B J Maheshwari - Whole Time Director & CS cum CCO(Chief Compliance Officer). Dwarikesh Sugar Industries Ltd.
“Budget 2017 covered a number of issues being faced by the agri and rural sector. As far as agri sector is concerned, overall the Budget 2017 looks encouraging, with the government’s commitment to double farmers Income in the next 5 years. Announcement on corporate farming was welcome and the sector would look forward to have more clarity on this during the coming days. Mini lab in Krishi Vigyan Kendras, expansion of National Agri Market and increase in irrigation and insurance coverage are welcome step for farming sector.”
About: Dwarikesh Sugar Industries Ltd (NSE: DWARKESH; BSE: 532610)
Dwarikesh Sugar Industries Ltd is a leading sugar producer. The company has three fully automated and highly efficient sugar mills, located in Uttar Pradesh’s sugarcane-rich belt of Bijnor and Bareilly districts.
The company’s combined production capacity is 21,500 tonnes of sugarcane per day. Modern and technologically advanced units help the company to harness sugar by-products such as ethanol, industrial alcohol and bagasee-based power production as growth enabler.
High recovery, plant efficiencies, cane development initiatives and ethical & transparent conduct of business are the key USPs of the company.
The company’s collaborative approach has helped farmers to improve their yield and maximize their returns. Focused R&D initiatives have enabled the company to ensure streamlined and quality supply of sugarcane, enabling high recovery and production levels.
Budget Quote - Mr. Anand Sundaresan, Chairman, Schwing Stetter Sales & Services India
There are many positives in this year’s Budget:
· Sufficient thrust has been given for the sectors across Transport, Infra-structure development including rail road, highways, PMGS program etc.
· Reduction in the holding period for long term capital gain from 3 years to 2 years and advancing the base year for calculating the indexation for cost of acquisition from 1981 to 2001 is very much welcome and could provide a boost to the real estate sector
· Significant emphasis on digitalization to bring in transparency and to reduce corruption is a move in the right direction.
· The Income tax rebate given to promote MSME Sector is also a very good decision.
· Some steps to incentivize savings and investments could have been provided for.
About SCHWING Stetter India Pvt Ltd:
Incorporated in June 1998, and commencing its manufacturing operations in 1999, SCHWING Stetter India is a 100% subsidiary of SCHWING Group of companies, a 1 Billion USD German Concrete machinery manufacturer and a part of XCMG group. SCHWING Stetter is a pioneer in manufacturing equipment for concrete preparation, placement, transportation and recycling. SCHWING Stetter (India) Private Limited manufactures concrete batching plants, concrete mixers for transporting readymade concrete to construction sites, concrete pumps, concrete placing booms, tower cranes, self-loading mixers and recycling plants. We cater to infrastructure developers and also acts as an OEM supplier to various cement companies who offer Ready Mix Concrete. SCHWING Stetter group has its manufacturing units in 11 countries including Germany, Austria, USA, Brazil, Russia, China, Ostrava, India, sales and service centers in France, Netherlands, Austria and Sweden as well as representations in more than 145 countries worldwide.
Post Budget Reaction - EON Electric
Post Budget reaction from Mr VP Mahendru, CMD, EON Electric
“The Union Budget 2017-18 has come up with some interesting steps when it comes to the LED lighting industry. With rural development being one of the major focuses for 2017-18, there has been an increased allocation for the rural electrification which will in turn benefit the manufacturing and sale of the electrical appliances. I strongly feel that it is a bold move by the government to put a target of 100 percent electrification of villages by May 2018. The provision for 5 per cent tax exemption for companies whose turnover is less than INR 50cr is also commendable.”
“The budget should have also targeted incentives and concessional interest rates for manufactures of LED Lighting products and projects keeping in mind that LED lighting can play a big role in enabling implementation of our government’s vision of 100 per cent rural electrification, and energy conservation. Establishment of SEZs (Special Economic Zones) for the LED lighting industry continues to be a critical priority for the industry”
Budget reaction_Shantanu Prakash_Educomp Solutions Ltd.
Reaction from Shantanu Prakash, Managing Director, Educomp Solutions Ltd.:
Terming the slew of steps taken to promote online education a testament to Government’s commitment to Digital India Shantanu Prakash, MD, Educomp Solutions Ltd. said, "The allocations made for promotion of education through online means is a substantial initiative and perhaps the greatest emphasis any budget has ever provided and has the potential of creating a tectonic impact in getting more children into the education net."
Prakash lauded the persistent efforts in this budget to empower skill development in all its dimensions and predicted huge dividends on this account. "The continued directional impetus to skill development in all its manifestations shows a well thought out plan and road map for the sector and it can only have a salutary effect on job oriented skill education".
Prakash also lauded the pointed references in the budget to outcomes based accreditation and learning measurements as silent revolutionary steps that could be overhaul quality of institutions.
Expressing disappointment at no reference to private funding in education Prakash said "opening up the education sector to FDi remains the single most potential step to revitalise education in India but the absence of any progress on that front means that the sector will continue to struggle for capital".