Hindustan Composites has signed a Long Term Technical Assistance Agreement with TBK Co., headquartered in Tokyo, Japan to obtain technical assistance for manufacture of commercial vehicle brake friction materials in India. TBK Co. controls about 70% market share for heavy and medium duty commercial vehicle brakes in Japan.

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Net profit of Hindustan Composites declined 8.73% to Rs 3.66 crore in the quarter ended June 2017 as against Rs 4.01 crore during the previous quarter ended June 2016. Sales rose 7.75% to Rs 41.99 crore in the quarter ended June 2017 as against Rs 38.97 crore during the previous quarter ended June 2016.

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Hindustan Composites announced that the Board of Directors of the Company at its meeting held on 23 May 2017, inter alia, have recommended the final dividend of Rs 0.5 per equity Share (i.e. 5%) , subject to the approval of the shareholders.

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Net profit of Hindustan Composites rose 2400.00% to Rs 7.25 crore in the quarter ended March 2017 as against Rs 0.29 crore during the previous quarter ended March 2016. Sales rose 8.14% to Rs 45.45 crore in the quarter ended March 2017 as against Rs 42.03 crore during the previous quarter ended March 2016.

For the full year,net profit rose 20.13% to Rs 24.89 crore in the year ended March 2017 as against Rs 20.72 crore during the previous year ended March 2016. Sales rose 8.48% to Rs 166.17 crore in the year ended March 2017 as against Rs 153.18 crore during the previous year ended March 2016.

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