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2 ‘w§~B©, a{ddma,28 Am°³Q>mo~a 2018 {Xì`mVrb CnmofUH

2 ‘w§~B©, a{ddma,28 Am°³Q>mo~a 2018 {Xì`mVrb … · 2019. 5. 6. · w§~B©, a{ddma,28 Am°³Q>mo~a 2018 (^maV gaH$maMm CnH«$‘) ‘m§S>dr emIm, ‘w§~B© H$ãOm gyMZm

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  • 2 ‘w§~B©, a{ddma,28 Am°³Q>mo~a 2018

    (^maV gaH$maMm CnH«$‘)‘m§S>dr emIm, ‘w§~B©H$ãOm gyMZm

    (ñWmda {‘iH$VrH$[aVm) Á¶mAWu, {ZåZñdmjarH$mam§Zr H°$Zam ~±Ho$Mo àm{YH¥$V A{YH$mar ¶m Zm˶mZo {g³¶w[aQ>m¶PoeZ A±S>[aH$ÝñQ´>³eZ Am°’$ ’$m¶ZmpÝeAb A°goQ²>g A±S> EÝ’$mog©‘|Q> Am°’$ {g³¶w[aQ>r B§Q>aoñQ> A°³Q>,2002 (A°³Q> 54 gZ 2002) Am{U H$b‘ 13 (12) ghdmMVm {g³¶w[aQr B§Q>aoñQ>(EÝ’$mog©‘|Q>) éëg, 2002 À¶m {Z¶‘ 3 AÝd¶o àmá A{YH$mam§Mm dmna H$ê$Z {XZm§H$24.04.2018 amoOr EH$ ‘mJUr gyMZm Omar H$ê$Z H$O©Xma ‘o. H$mZS>o A°³dm ’$m‘© àm.{b., H$mZS>o hmD$g, ßbm°Q H«$. 148, ghma H$mJm} BñQ>oQ> ‘ܶo, Oo.~r. ZJa, S>r.nr.amoS>, A§Yoar (nyd©), ‘w§~B©-400 099 (nÎmm) ¶m§g gyMZoVrb Z‘yX a¸$‘ é.92656901.00 (én¶o ZD$ H$amoS> gìdrg bmI N>ßnÞ hOma ZD$eo EH$ ‘mÌ) ¶maH$‘oMr naV’o$S> gXa gyMZoÀ¶m àmárÀ¶m VmaIonmgyZ 60 {Xdgm§V H$aʶmg gm§{JVbo hmoVo.aH$‘oMr naV’o$S> H$aʶmV H$O©Xma Ag‘W© R>aë¶mZo, ¶mÛmao H$O©Xma Am{U gd©gm‘mݶOZVobm gyMZm XoʶmV ¶oVo H$s, {ZåZñdmjarH$mam§Zr Imbrb Z‘yX {‘iH$VrMm˶mbm/{Vbm gXa A°³Q>À¶m H$b‘ 13 (4) ghdmMVm gXa {Z¶‘dbrÀ¶m {g³¶w[aQ>rB§Q>aoñQ> (EÝ’$mog©‘§oQ>) ê$ëg 2002 À¶m {Z¶‘ 8 AÝd¶o àmá A{YH$mam§Mm dmna H$ê$Z{XZm§H$ 25 Am°³Q>mo~a, 2018 amoOr H$ãOm KoVbm Amho. H$O©Xmam§Mo bj VmaU ‘Îmm {d‘moMZmgmR>r CnbãY doioÀ¶m g§X^m©V A{Y{Z¶‘À¶m H$b‘13 À¶m nmoQ> H$b‘ (8) À¶m VaVwXtH$S>o doYʶmV ¶oV Amho.

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    JhmU ñWmda {‘iH$VrMo dU©ZZm|XUr {Oëhm Am{U Cn-{Oëhm R>mUo‘Yrb Zdr ‘w§~B© ‘hmZJanm{bH$m hÔrVrb600 Mm¡. ‘rQ>g© ‘moO‘m{nV Jmd dmer, Zdr ‘w§~B©, VmbwH$m {O. R>mUo À¶m go³Q>a12 ‘Yrb ßbm°Q> H«$. 2 d 3 YmaH$ O{‘Zrda ~m§Yboë¶m ’$moa grOÝg ZmdmÀ¶mB‘maVr‘Yrb gXa âb°Q>er OmoS>bobr 52.53 Mm¡. ’y$Q> ‘moO‘m{nV Q>oaog ghEH${ÌV 821 Mm¡. ’y$Q> H$mn}Q> E[a¶m ‘moO‘m{nV 1ë¶m ‘Oë¶mdarb Vmo gd©AI§S> {Zdmgr âb°Q> H«$. 11 Am{U ˶mÀ¶m MVw…gr‘m CÎmaoH$Sy>Z… 11 ‘rQ>g© ê§$XañVm, X{jUoH$Sy>Z… ßbm°Q> H«$. 10 d 11, nyd©oH$Sy>Z… ßbm°Q> H«$. 4 Am{UnpíM‘oH$Sy>Z… ßbm°Q> H«$. 1.darb O§J‘JhmU/JhmU {‘iH$VrMm ¶mnwT>o "VmaU ‘Îmm' Agm CëboI.{ZåZñdmjarH$ma ho ’o$S>ab ~±H$ {b.Mo àm{YH¥$V A{YH$mar ¶m Zm˶mZo Vwåhmbm H$i{dVAmhoV H$s 17/10/2018 nmgyZ ‘m{gH$ AmYmao X.gm. 17.58% XamZo nwT>rbì¶mOmgh EH${ÌV é. 20,33,750.30 (én¶o drg bmI VohoVrg hOma gmVeo nÞmgAm{U n¡go Vrg ‘mÌ) Mr a³H$‘ g§¶w³V Am{U doJdoJir Vw‘À¶mH$Sy>Z ~±Ho$À¶m dmer>emIoH$S>rb Vw‘À¶m H$O© Im˶m§VJ©V WH$sV Amho. aH$‘oMr naV’o$S> H$aʶmV H$gyaHo$ë¶m‘wio, Vw‘Mo H$O© ImVo Ama~rAm¶À¶m ‘mJ©Xe©H$ VÎdm§Zwgma 03/09/2018 amoOrZm°Z-na’$m°{‘ªJ A°goQ> åhUyZ dJuH¥$V Pmbo Amho.

    Vwåhmbm gXa gyMZoÀ¶m VmaIonmgyZ 60 {Xdgm§V gXa aH$‘ogh àXmZmÀ¶m VmaIon¶ªVnwT>rb ì¶mO Am{U n[a춶 hr a¸$‘ MwH$Vr H$aʶmgmR>r ~mobm{dʶmV ¶oV Amho, H$gyaHo$ë¶mg ~±H$ Vwåhmbm H$moUVrhr nyd©gyMZm Z XoVm WH$~mH$sÀ¶m dgwbrgmR>r VmaU ‘ÎmoMoì¶dñWmnZ Vmã¶mV KoUo qH$dm ^mS>onÅ>m, A{^hñVm§H$Z qH$dm {dH«$sÀ¶m ‘mJm©Zo VrhñVm§Va H$aʶmÀ¶m h³H$mgh ˶mMm H$ãOm KoUo Aem Imbrb Z‘yX VmaU ‘Îmm Am{UVw‘À¶m {damoYmV A°³Q>Mo H$b‘ 13 AÝd¶o gd© A{YH$mam§Mm dmna H$arb.Vwåhmbm H$i{dʶmV ¶oVo H$s, Vwåhr ~±Ho$À¶m boIr gh‘Vr{edm¶ Imbrb Z‘yX VmaU‘Îmm, {dH«$s, ̂ mS>onÅ>m qH$dm Aݶ ‘mJm©Zo hñVm§Va H$ê eH$V Zmhr. Varhr Vwåhr Xm{¶ËdnyU© H$aʶmg H$gya Ho$ë¶mg ~±H$ darb Z‘yXZwgma Cn¶w³V H$madmB© gwê$ H$arb. Vwåhr˶mÀ¶m g§~§{YV gd© n[a춶, à^ma Am{U IM© ~±Ho$bm MwH$Vm H$aʶmgmR>r O~m~Xmaamhmb. VmaU ‘ÎmoÀ¶m {dH«$s à{H«$¶oVyZ g§nyU© WH$~mH$sMr dgwbr Z Pmë¶mg ~±H$ nwT>rbgyMZo{edm¶ Cd©[aV a³H$‘ dgyb H$aʶmgmR>r ì¶{º$JV[a˶m Vw‘À¶mda H$madmB© H$arb.VmaU ‘ÎmoÀ¶m (VmaU {‘iH$V) {d‘moMZmgmR>r CnbãY Agboë¶m doiog§~§Yr A°³Q>MoH$b‘ 13(8) À¶m VaVwXtH$S>o Vw‘Mo bj doYʶmV ¶oV Amho.gXa gyMZm hr ~±Ho$À¶m WH$~mH$sÀ¶m dgwbrH$[aVm ~±Ho$H$S>o CnbãY Agboë¶m BVah³H$ Am{U Cnm¶m§Zm ~mYm ¶oD$ Z XoVm {ZJ©{‘V H$aʶmV ¶oV Amho.{XZm§H$… 16 Am°³Q>mo~a>, 2018

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    Á¶mAWu,{ZåZñdmjarH$mam§Zr H°$Zam ~±Ho$Mo àm{YH¥$V A{YH$mar ¶m Zm˶mZo {g³¶w[aQ>m¶PoeZ A±S> [aH$ÝñQ´>³eZ Am°’$’$m¶ZmpÝeAb A°goQ²>g A±S> EÝ’$mog©‘|Q> Am°’$ {g³¶w[aQ>r B§Q>aoñQ> A°³Q>, 2002 (A°³Q> 54 gZ 2002) Am{UH$b‘ 13 (12) ghdmMVm {g³¶w[aQ>r B§Q>aoñQ> (EÝ’$mog©‘|Q>) éëg, 2002 À¶m {Z¶‘ 3 AÝd¶o àmáA{YH$mam§Mm dmna H$ê$Z {XZm§H$ 24.04.2018 amoOr EH$ ‘mJUr gyMZm Omar H$ê$Z H$O©Xma ‘o. H$mZS>oA°³dm ’$m‘© àm. {b., H$mZS>o hmD$g, ßbm°Q> H«$. 148, ghma H$mJm} BñQ>oQ>‘ܶo, Oo. ~r. ZJa, S>r.nr. amoS>, A§Yoar (nyd©), ‘w§~B©-400 099. ¶m§g gyMZoVrb Z‘yX a¸$‘ é. 92656901.00 (én¶o ZD$H$amoS>, gìdrg bmI N>nÝZ hOma ZD$eo EH$ ‘mÌ) ¶m aH$‘oMr naV’o$S> gXa gyMZoÀ¶m àmßVrÀ¶mVmaIonmgyZ 60 {Xdgm§V H$aʶmg gm§{JVbo hmoVo.aH$‘oMr naV’o$S> H$aʶmV H$O©Xma Ag‘W© R>aë¶mZo, ¶mÛmao H$O©Xma Am{U gd©gm‘mݶ OZVobm gyMZm XoʶmV¶oVo H$s, {ZåZñdmjarH$mam§Zr Imbrb Z‘yX {‘iH$VrMm ˶mbm/{Vbm gXa A°³Q>À¶m H$b‘ 13 (4)ghdmMVm gXa {Z¶‘dbrÀ¶m {g³¶w[aQ>r B§Q>aoñQ> (EÝ’$mog©‘|Q>) éëg 2002 À¶m {Z¶‘ 8 AÝd¶o àmáA{YH$mam§Mm dmna H ê$Z {XZm§H$ 23 Am°³Q>mo~a, 2018 amoOr H$ãOm KoVbm Amho.H$O©Xmam§Mo bj VmaU ‘Îmm {d‘moMZmgmR>r CnbãY doioÀ¶m g§X^m©V A{Y{Z¶‘mÀ¶m H$b‘ 13 À¶mnmoQ>H b‘ (8) À¶m VaVwXtH$S>o doYʶmV ¶oV Amho.{deofV: H$O©Xma Am{U gd©gm‘mݶ OZVobm ¶mÛmao Bemam XoʶmV ¶oVmo H$s, gXa {‘iH$Vrer ì¶dhma H$ê$Z¶o d gXa {‘iH$Vrer Ho$bobm H$moUVmhr ì¶dhma hm H°$Zam ~±H$, ‘m§S>dr, ‘w§~B© À¶m a¸$‘ é.92656901.00 ˶mdarb ì¶mOmÀ¶m ^mamAYrZ amhrb.

    ñWmda {‘iH$VrMo dU©Z1 O{‘ZrMo ̂ mJ d {d^mJ pñWV Jmd Xodmbr, VmbwH$m ‘mbdU {O. qgYwXþJ©, Xodmbr J«m‘n§Mm¶V

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    2 O{‘ZrMo Vo gd© ^mJ d {d^mJ pñWV Jmd Xodmbr, VmbwH$m ‘mbdU {O. qgYwXþJ©, XodmbrJ«m‘n§Mm¶V g{‘VrÀ¶m ‘¶m©XoV gXa Zm|XUrH¥$V ‘mbdU ‘o. H$mZS>o A°³dm ’$m‘© àm. {b. ¶m§À¶mZmdo.O‘rZ ‘moO‘m{nV 2.74 ho³Q>g© Am{U gd© ‘Îmm Ogo H$s B‘maV, ßbm§Q> Am{U ‘{eZar gìh} H«$.231/14, 397/5, 229/19, 229/21, 229/5(^m), 229/26(^m), 229/13,230/1/10, 230/1/11, 230/1/3, 230/5(^m), 229/12, 229/20, 230/1/9,229/4, 229/14(^m), 229/15, 229/24, 229/26(^m), 230/1/3(^m), 230/14,230/1/5(^m), 229/17, 229/23, 229/26, 229/8, 230/1/6, 230/1/13,231/8, 397/11, 229/11(^m), 229/18(^m), 229/12(^m), 229/14(^m),230/1/8(^m), 230/1/12(^m), 221/2(^m), 395/1/7, 395/1/1(^m),230/1/2(^m), 230/1/4(^m), 229/9.

    ghr/-{XZm§H$ : 23.10.2018 àm{YH¥$V A{YH$mar,ñWi : Xodmbr, ‘mbdU H°$Zam ~±H$ ‘m§S>dr (‘w§~B©) emIoH$[aVm

    H§$Q´>mob qàQ> {b{‘Q>oS>grAm¶EZ : Eb22219E‘EM1991nrEbgr059800Zm|. H$m¶m©b¶ : gr-106, qhX gm¡amï´> B§S>pñQ´>¶b BñQ>oQ>, A§Yoar-Hw$bm© amoS>, ‘amoi ZmH$m, A§Yoar (nyd©),‘w§~B©-400059. Xÿ. : + 91 22 28599065/66938900& do : www.controlprint.com, B©-‘ob> : [email protected],

    30 gßQ>|~a, 2018 amoOr g§nboë¶m {V‘mhr Am{U AY© dfm©gmR>r A{báAboImn[a{jV {dÎmr¶ {ZîH$fmªMm CVmam

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    PUBLIC NOTICETAKE RECTIFICATION NOTICEFOR NOTICE ISSUED DATED 14-6-2018 that in respect of Smt.Sugandha Sudhakar Salvi memberof the Vahatuk Nagar Co-op. Hsg.Society Ltd., at Ceaser Road,Amboli, Andheri-West, Mumbai-400058 and holding Flat No. 404/C inthe society, died on 24-4-2018 with-out making any nomination for saidflat.

    That notice was mistakenly issuedby society is calling objections fortransfer, wherein society had notconsented in writing to either toapplicant or advocate for issue ofpublic notice hence the part of con-sent is publicly withdrawn from pub-lic notice by Mr. Jitendra SudhkarSalvi, who is holding family noc andwho is a membership applicant forsaid flat This rectification part ofnotice is issued at the oral informa-tion on part of consent particularly inthe public notice appeared on 14-6-2018 and hence the Society part isunconditionally withdrawn for nexttransfer procedure in committee.Next procedure for transfer of flat404/C may be considered by societyManagement Committee by its dis-cretionary decision, with informing toundersigned Mr. Jitendra SudhkarSalvi, if any. For and on behalf of Mr.Jitendra Sudhakar Salvi, member-ship applicant for Flat No. 404/C,Vahatuk Nagar C.H.S.L.

    Notice By : Tejpal M.S. Adv. 7/326,S-3, Charkop, Kandivll-W, M.S.D. 67

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    PUBLIC NOTICETAKE RECTIFICATION NOTICEFOR NOTICE ISSUED DATED 14-6-2018 that in respect of Smt.Sugandha Sudhakar Salvi memberof the Vahatuk Nagar Co-op. Hsg.Society Ltd., at Ceaser Road,Amboli, Andheri-West, Mumbai-400058 and holding Flat No. 404/C inthe society, died on 24-4-2018 with-out making any nomination for saidflat.

    That notice was mistakenly issuedby society is calling objections fortransfer, wherein society had notconsented in writing to either toapplicant or advocate for issue ofpublic notice hence the part of con-sent is publicly withdrawn from pub-lic notice by Mr. Jitendra SudhkarSalvi, who is holding family noc andwho is a membership applicant forsaid flat This rectification part ofnotice is issued at the oral informa-tion on part of consent particularly inthe public notice appeared on 14-6-2018 and hence the Society part isunconditionally withdrawn for nexttransfer procedure in committee.Next procedure for transfer of flat404/C may be considered by societyManagement Committee by its dis-cretionary decision, with informing toundersigned Mr. Jitendra SudhkarSalvi, if any. For and on behalf of Mr.Jitendra Sudhakar Salvi, member-ship applicant for Flat No. 404/C,Vahatuk Nagar C.H.S.L.

    Notice By : Tejpal M.S. Adv. 7/326,S-3, Charkop, Kandivll-W, M.S.D. 67

    (Am¶grAm¶grAm¶ ìhoÝMa hmD$g, 4 Wm ‘Obm, Aßnmgmho~ ‘amR>o ‘mJ©,à^mXodr, ‘w§~B©-400 025)Xÿa. H«$ … 022-48825236/091677 80435)

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  • 2 COMPANIES MUMBAI | 28 OCTOBER 2018 1>

    Integrated model may aid RILgrowth, despite refining woes

    AI to launchred-eye flights

    RCCPL board approves expansionof Kundanganj cement plant

    Steel industry needs more curbs: ThyssenKrupp CEOMARTIN RITCHIEShanghai, 27 October

    Steelmakers in China and the restof the world need to do more toreduce overcapacity, according toGuido Kerkhoff, chief executiveofficer of Germany’sThyssenKrupp AG.

    While China has made goodprogress in curbing over-production, there’s room for evenmore cuts, Kerkhoff told reportersin a group interview in Shanghaion Saturday.

    The biggest steelmaking nationhas reshaped the industry in thepast three years by closing plants,tightening environmentalcontrols and imposing targetedproduction curbs.

    “There is still overcapacityworldwide” and reducing that“needs to continue” not only inChina, but in Europe and the restof the world, he said. China’s steelexports have dropped to thelowest levels in five years, buoyingworld prices and cementing the

    sector’s recovery after adevastating crisis at the end of2015.

    While the industry has sinceenjoyed a relatively benign fewyears, risks are rising amid globaltrade tensions in which steel hasbeen a leading target. The WorldSteel Association predicts aslowing of demand next year asChina’s growth declines.

    Asked which regions needed totake most action in curbingcapacity, Kerkhoff noted thatChina produces about half theworld’s steel and the issue must beaddressed according to relativesize. Europe has also taken steps,he said, including viaThyssenKrupp’s joint venturewith Tata Steel that created theregion’s second-biggest producer.Kerkhoff was speaking weeks afterhe was confirmed as CEO to steer asplit of the iconic Germanindustrial conglomerate into twolisted units. One will manage itselevator, auto parts and plantconstruction businesses, the other

    its steel and metals operations.US tariffs on steel imports

    imposed by President DonaldTrump earlier this year havetriggered inflows into Europe,Kerkhoff said.

    The European Unionwas among sevenmembers of the WorldTrade Organization thatescalated its response to thetariffs last week by seeking aruling on their legality from theWTO’s disputes settlement body.“As a company we do not exportmuch into the US, and thequalities we do sell are oftenproducts that are not producedthere, so our customers stick tothem,” he said.

    “What we see is more anindirect effect. Material thatwould have gone to the U.S. isentering one way or another intoEurope. We see volumes fromTurkey, volumes from Russiaincreasing in the Europeanmarket.”

    BLOOMBERG

    PRESS TRUST OF INDIAMumbai, 27 October

    State-owned Air India onSaturday announced thelaunch of red-eye flights tosome of the domestic desti-nations, including Goa, start-ing next month-end.

    A red-eye flight departsgenerally late at night andarrives early morning.Because of low fares thatthese flights offer, they arequite popularabroad, especiallyin US and Europe.

    AI will introducered-eye flights withfares lower than thenormal fares on sectors like Delhi-Goa- Delhi, Delhi-Coimbatore-Delhiand Bangalore-Ahmedabad-Bangalore from November30, the airline said in a statement.

    The flights will operatedaily, says AI. According tothe airline, its flight AI883will leave Delhi at 10 pm andarrive at Goa 12.35 am, while

    the return flight AI884 willtake off from Goa at 1.15 amand land at Delhi at 3.40 am.

    Similarly, flight AI547 willdepart Delhi at 9.15 pm andland at Coimbatore at 12.30am. In its return journey, theflight will leave as AI548from Coimbatore at 1.00 amand reach Delhi at 4.00 am.

    According to AI, theBengaluru-Ahmedabadflight AI589 will take off from

    Bangalore at 12.30am to reachAhmedabad at 2.35am, says Air India.

    The returnflight AI590 willdepart fromAhmedabad at3.05 am and touchdown at Bangalore

    at 5.25 am.The late night flights,

    popularly called ‘red eye’flights, offer fares lower thanregular flights.Moreover,they also help travellers beatpeak hour traffic and helpsave on hotel accomodationcosts, claims AI.

    AMRITHA PILLAYMumbai, 27 October

    Reliance Industries Ltd, whichoperates the world's largest sin-gle-location refinery, is facingcertain difficulties. While the grossmargin of its refining business hit a multi-year low, the petcoke gasi-fication plan is stuck with a ‘scalingup’ hurdle.

    Also, part of its margin upsideprospects hinges on timely imple-mentation of new regulations forbunker fuel.

    For the September 2018 endedquarter, RIL reported a gross refiningmargin (GRM) of $9.5 per barrel. Thecompany last reported a single digitGRM in the December 2014 endedquarter.

    “A tight crude market has reducedRIL’s competitive advantage of sourc-ing difficult-to-process cargoes as thepremium on these items has comeoff,” analysts at JP Morgan wrote in arecent note on the company.

    The benchmark Singapore refin-ing margins, to which RIL enjoys apremium, has also been under pres-sure. “Singapore refining marginshave been particularly weak thismonth as gasoline cracks slumped inline with weakness in the US andEurope but should improve over thenext couple of months as demand

    picks up seasonally,” said PlattsAnalytics, a provider of energy andcommodities information.

    A lot also depends on how crudeoil prices move fromhere on, as well asdemand from cus-tomers.

    Rahul Prithiani,director with CRISILResearch, said therise in crude oilprices will have a fur-ther impact. “Rise incrude oil prices is expected to impactGRMs of refiners if high crude oilprices can't be passed on to end con-sumers. Moreover, sluggish growthin demand for petroleum products

    alongside supply glut in the Asianmarket is expected to put furtherpressure on the GRMs of Indianrefiners.”

    The JP Morgananalysts note that inthe current scenario,IMO 2020 and thegasifier are extremelyimportant for RIL’sFY20-21 earnings andde-leveraging.

    However, thereare some uncertain-

    ties on both counts. Closer home, RILat present, is facing concerns on thescale-up of its ambitious petcoke gasi-fication project. The companyinformed analysts that there have

    been technical challenges in the con-tinuous synchronised operations ofpetcoke gasifiers.

    The company hopes the problemwill be over by March next year. Theproject, once fully operational, isexpected to add $2 per barrel as GRMsfor the company.

    Both RIL’s management and ana-lysts expect the IMO regulations tofurther add to RIL’s earnings.

    The JP Morgan report hopes IMO2020-related earnings before inter-est, taxation, depreciation andammortisation (Ebitda) addition willbe at ~32 billion and ~59 billion inFY2020 and FY2021, respectively. Butdelay in implementation of these reg-ulations could curtail the expected

    upside. The United States is reported to

    have proposed certain changes to theimplementation of these rules.However, not everyone is concernedon what stand the US takes.

    “The global refining industry andthe shipping industry have invest-ed good amount of resources to com-ply with the new regulations ontime. They have been preparing for itfor a few years now. Companies willaim to comply, although the level ofimplementation may vary fromcountry to country,” said SambitMohanty, senior Asia oil editor atS&P Global Platts.

    However, not everyone is worriedbut is hopeful RIL’s integrated modelwill save the day.

    “If one was to look at the compa-ny’s earnings between 2009 and 2015,it is clear that RIL managed to expandearnings (now in the range of ~300billion or above in the last threeyears), either through good refiningperformance or through petrochem-icals. RIL’s integrated model helps itride commodity uncertainties andthat should continue,” said an oil andgas analyst, who did not wish to beidentified.

    Moreover, on a consolidated basis,consumer businesses such as telecom(digital services) and retail have start-ed to deliver.

    PRESS TRUST OF INDIANew Delhi, 27 October

    The board of RCCPL, a wholly-owned subsidiary of BirlaCorporation, on Saturdayapproved second phase ofexpansion plans for the com-pany’s grinding cement plantat Kundanganj.

    The expansion will be car-ried out by installing the thirdproduction line with a cementcapacity of 1.2 million tonnesper annum (MTPA), Birla

    Corporation Limited said in aBSE filing. Following theexpansion, the capacity ofKundanganj plant will increaseto 3.20 MTPA.

    The new capacity will beadded in the financial year2020-21 at an investment of~2.5 billion. The expansionwill be funded through debtand internal accruals. Thefirm added the plant capaci-ty is being enchanced tomeet the increase in demandfrom central region.

    CONSOLIDATED QUARTERLY RESULTS

    t- Earnings before interest and taxation Source: Jefferies report

    Quarter Total Ebit Refining Petchem % of (~bn) Ebit (~bn) Ebit (~bn) total Ebit

    Q2FY19 53.2 81.2 33.50

    Q1FY19 53.2 78.6 34.34

    Q4FY18 56.1 64.4 41.18

    Q3FY18 61.7 57.5 47.24

    Q2FY18 66.2 49.6 59.74

    Q1FY18 63.9 40.3 67.12

    158.8

    154.9

    136.2

    130.6

    110.8

    95.2Such late night-flights, popularly called ‘red-eye’ flights, willbe offered at fares considerably lower than normal

    According to industryexperts, a tight crudemarket has reduced RIL’scompetitive advantageof sourcing difficult-to-process cargoes as thepremium on these itemshas come off

    Guido Kerkhoff, chief executive officer of ThyssenKrupp AG. The biggeststeelmaking nation has reshaped the industry in the past three years byclosing plants, tightening environmental controls and imposing targetedproduction curbs PHOTO: BLOOMBERG

    AI is gearing upto launch red-eye flightsbeginingNovember 30.The flights willoperate daily

    BENJAMIN KATZLondon, 27 October

    Airbus SE has a mighty chal-lenge ahead of it, one thatseems to be getting tougher.

    The European planemakeris targeting deliveries ofaround 800 commercial air-craft this year, an 11 per centjump from 2017. To do it,Airbus needs to hand oversome 300 jets in its final quar-ter, which would be a record.But delays with engines madeby Rolls-Royce Holdings are adding to the degree of dif-ficulty.

    On Friday, BloombergNewsreported that Rolls-Royce had fallen behindschedule on deliveries forAirbus’s new model, theA330neo. Rolls was aiming toprovide 30 of its Trent 7000engines to Airbus by the end ofthis month, which would allowthe Toulouse, France-basedplanemaker to deliver 15 of thewide-body aircraft to cus-tomers by year-end.

    But Airbus will only get 10engines, enough for five planes.That’s a 10-plane shortfall. Theshares of both companies fellsharply on Friday before recov-ering most of their losses by theend of trading in Europe.

    Getting production right isa critical task for Airbus’s nextchief executive officer,Guillaume Faury, who is look-ing to prove his chops as pres-ident of the commercial air-craft business before formallytaking over control of thegroup in April. But by allaccounts, the target is all con-suming.

    “We have caused Airbus asignificant problem, and weare working with them to man-age the situation with airlinecustomers and lessors,” Rolls-Royce’s president of civil aero-space, Chris Cholerton, andlarge-engine program director,Chris Young, said in a memo to

    staff. Rolls-Royce later notifiedmarkets that it had cut its over-all delivery goal by 50 to about500 commercial engines thisyear, while maintaining itsprofit and cash-flow targets.

    For Airbus, the delays withthe A330neo threaten to dis-rupt an already tight finalquarter of 2018 that’s beenstretched by design and pro-duction faults with separateengines that power its single-aisle A320 jet family. IAG SA,which owns British Airways,said Friday that its A321neonarrow-bodies have beendelayed “principally related toengines, but not solely.”

    The slower widebody han-dovers could reduce Airbus’sfull-year sales by 1.5 billioneuros or hit earnings by about100 million euros, FrancoisDuflot, an analyst withBloomberg Intelligence, wrotein a research note.

    Airbus declined to com-

    ment ahead of third-quarterresults scheduled for Oct. 31,when the manufacturer isexpected to update markets onits production plans.

    For Rolls, the factory stum-bles threaten to pile new pres-sure on the company, which isalready struggling throughdurability flaws with theengine’s sister model, theTrent 1000, which powersBoeing Co.’s 787 Dreamliner.The A330neo, whose enginesuffers from similar glitches,is expected to debut in thecoming weeks, about a yearbehind its initial schedule.

    In-service disruptioncaused by design faults on the787’s engine is “a source of anx-iety to our customers and wemust not exacerbate this bymissing commitments to ourTrent 7000 customers,” Rollssaid in the memo to staff.

    It’s a setback too for Rolls-Royce Chief Executive Officer

    Warren East, who is tryinghard to turn around one ofBritain’s few remaining indus-trial juggernauts. In his fouryears at the helm, East hasworked to rebuild the engi-neering firm from the bottomup, shedding managementlayers, peripheral units andoutdated business practices.

    “We would extrapolate thatthe financial impact on Rollswill be compensation pay-ments to Airbus and the air-lines, and a build-up of inven-tory into the year-end,” RobertStallard, an analyst withVertical Research Partners,said in a note, while cutting hisprice target on Rolls by 11 per-cent to 930 pence. “The profit-and-loss impact could ironi-cally be positive, as the Trent7000 original-equipmentdeliveries will be loss making,with the returns coming fromthe aftermarket.”

    BLOOMBERG

    Massive Airbus delivery challengegets tougher with Rolls-Royce delays

    The European planemaker is targeting deliveries of around 800 commercial aircraft this year, an11 per cent jump from 2017. But delays with engines made by Rolls-Royce Holdings is adding tothe delays REUTERS

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    Sunday Business StandardMUMBAI EDITION

  • 2 COMPANIES MUMBAI | 28 OCTOBER 2018 1>

    Integrated model may aid RILgrowth, despite refining woes

    AI to launchred-eye flights

    RCCPL board approves expansionof Kundanganj cement plant

    Steel industry needs more curbs: ThyssenKrupp CEOMARTIN RITCHIEShanghai, 27 October

    Steelmakers in China and the restof the world need to do more toreduce overcapacity, according toGuido Kerkhoff, chief executiveofficer of Germany’sThyssenKrupp AG.

    While China has made goodprogress in curbing over-production, there’s room for evenmore cuts, Kerkhoff told reportersin a group interview in Shanghaion Saturday.

    The biggest steelmaking nationhas reshaped the industry in thepast three years by closing plants,tightening environmentalcontrols and imposing targetedproduction curbs.

    “There is still overcapacityworldwide” and reducing that“needs to continue” not only inChina, but in Europe and the restof the world, he said. China’s steelexports have dropped to thelowest levels in five years, buoyingworld prices and cementing the

    sector’s recovery after adevastating crisis at the end of2015.

    While the industry has sinceenjoyed a relatively benign fewyears, risks are rising amid globaltrade tensions in which steel hasbeen a leading target. The WorldSteel Association predicts aslowing of demand next year asChina’s growth declines.

    Asked which regions needed totake most action in curbingcapacity, Kerkhoff noted thatChina produces about half theworld’s steel and the issue must beaddressed according to relativesize. Europe has also taken steps,he said, including viaThyssenKrupp’s joint venturewith Tata Steel that created theregion’s second-biggest producer.Kerkhoff was speaking weeks afterhe was confirmed as CEO to steer asplit of the iconic Germanindustrial conglomerate into twolisted units. One will manage itselevator, auto parts and plantconstruction businesses, the other

    its steel and metals operations.US tariffs on steel imports

    imposed by President DonaldTrump earlier this year havetriggered inflows into Europe,Kerkhoff said.

    The European Unionwas among sevenmembers of the WorldTrade Organization thatescalated its response to thetariffs last week by seeking aruling on their legality from theWTO’s disputes settlement body.“As a company we do not exportmuch into the US, and thequalities we do sell are oftenproducts that are not producedthere, so our customers stick tothem,” he said.

    “What we see is more anindirect effect. Material thatwould have gone to the U.S. isentering one way or another intoEurope. We see volumes fromTurkey, volumes from Russiaincreasing in the Europeanmarket.”

    BLOOMBERG

    PRESS TRUST OF INDIAMumbai, 27 October

    State-owned Air India onSaturday announced thelaunch of red-eye flights tosome of the domestic desti-nations, including Goa, start-ing next month-end.

    A red-eye flight departsgenerally late at night andarrives early morning.Because of low fares thatthese flights offer, they arequite popularabroad, especiallyin US and Europe.

    AI will introducered-eye flights withfares lower than thenormal fares on sectors like Delhi-Goa- Delhi, Delhi-Coimbatore-Delhiand Bangalore-Ahmedabad-Bangalore from November30, the airline said in a statement.

    The flights will operatedaily, says AI. According tothe airline, its flight AI883will leave Delhi at 10 pm andarrive at Goa 12.35 am, while

    the return flight AI884 willtake off from Goa at 1.15 amand land at Delhi at 3.40 am.

    Similarly, flight AI547 willdepart Delhi at 9.15 pm andland at Coimbatore at 12.30am. In its return journey, theflight will leave as AI548from Coimbatore at 1.00 amand reach Delhi at 4.00 am.

    According to AI, theBengaluru-Ahmedabadflight AI589 will take off from

    Bangalore at 12.30am to reachAhmedabad at 2.35am, says Air India.

    The returnflight AI590 willdepart fromAhmedabad at3.05 am and touchdown at Bangalore

    at 5.25 am.The late night flights,

    popularly called ‘red eye’flights, offer fares lower thanregular flights.Moreover,they also help travellers beatpeak hour traffic and helpsave on hotel accomodationcosts, claims AI.

    AMRITHA PILLAYMumbai, 27 October

    Reliance Industries Ltd, whichoperates the world's largest sin-gle-location refinery, is facingcertain difficulties. While the grossmargin of its refining business hit a multi-year low, the petcoke gasi-fication plan is stuck with a ‘scalingup’ hurdle.

    Also, part of its margin upsideprospects hinges on timely imple-mentation of new regulations forbunker fuel.

    For the September 2018 endedquarter, RIL reported a gross refiningmargin (GRM) of $9.5 per barrel. Thecompany last reported a single digitGRM in the December 2014 endedquarter.

    “A tight crude market has reducedRIL’s competitive advantage of sourc-ing difficult-to-process cargoes as thepremium on these items has comeoff,” analysts at JP Morgan wrote in arecent note on the company.

    The benchmark Singapore refin-ing margins, to which RIL enjoys apremium, has also been under pres-sure. “Singapore refining marginshave been particularly weak thismonth as gasoline cracks slumped inline with weakness in the US andEurope but should improve over thenext couple of months as demand

    picks up seasonally,” said PlattsAnalytics, a provider of energy andcommodities information.

    A lot also depends on how crudeoil prices move fromhere on, as well asdemand from cus-tomers.

    Rahul Prithiani,director with CRISILResearch, said therise in crude oilprices will have a fur-ther impact. “Rise incrude oil prices is expected to impactGRMs of refiners if high crude oilprices can't be passed on to end con-sumers. Moreover, sluggish growthin demand for petroleum products

    alongside supply glut in the Asianmarket is expected to put furtherpressure on the GRMs of Indianrefiners.”

    The JP Morgananalysts note that inthe current scenario,IMO 2020 and thegasifier are extremelyimportant for RIL’sFY20-21 earnings andde-leveraging.

    However, thereare some uncertain-

    ties on both counts. Closer home, RILat present, is facing concerns on thescale-up of its ambitious petcoke gasi-fication project. The companyinformed analysts that there have

    been technical challenges in the con-tinuous synchronised operations ofpetcoke gasifiers.

    The company hopes the problemwill be over by March next year. Theproject, once fully operational, isexpected to add $2 per barrel as GRMsfor the company.

    Both RIL’s management and ana-lysts expect the IMO regulations tofurther add to RIL’s earnings.

    The JP Morgan report hopes IMO2020-related earnings before inter-est, taxation, depreciation andammortisation (Ebitda) addition willbe at ~32 billion and ~59 billion inFY2020 and FY2021, respectively. Butdelay in implementation of these reg-ulations could curtail the expected

    upside. The United States is reported to

    have proposed certain changes to theimplementation of these rules.However, not everyone is concernedon what stand the US takes.

    “The global refining industry andthe shipping industry have invest-ed good amount of resources to com-ply with the new regulations ontime. They have been preparing for itfor a few years now. Companies willaim to comply, although the level ofimplementation may vary fromcountry to country,” said SambitMohanty, senior Asia oil editor atS&P Global Platts.

    However, not everyone is worriedbut is hopeful RIL’s integrated modelwill save the day.

    “If one was to look at the compa-ny’s earnings between 2009 and 2015,it is clear that RIL managed to expandearnings (now in the range of ~300billion or above in the last threeyears), either through good refiningperformance or through petrochem-icals. RIL’s integrated model helps itride commodity uncertainties andthat should continue,” said an oil andgas analyst, who did not wish to beidentified.

    Moreover, on a consolidated basis,consumer businesses such as telecom(digital services) and retail have start-ed to deliver.

    PRESS TRUST OF INDIANew Delhi, 27 October

    The board of RCCPL, a wholly-owned subsidiary of BirlaCorporation, on Saturdayapproved second phase ofexpansion plans for the com-pany’s grinding cement plantat Kundanganj.

    The expansion will be car-ried out by installing the thirdproduction line with a cementcapacity of 1.2 million tonnesper annum (MTPA), Birla

    Corporation Limited said in aBSE filing. Following theexpansion, the capacity ofKundanganj plant will increaseto 3.20 MTPA.

    The new capacity will beadded in the financial year2020-21 at an investment of~2.5 billion. The expansionwill be funded through debtand internal accruals. Thefirm added the plant capaci-ty is being enchanced tomeet the increase in demandfrom central region.

    CONSOLIDATED QUARTERLY RESULTS

    t- Earnings before interest and taxation Source: Jefferies report

    Quarter Total Ebit Refining Petchem % of (~bn) Ebit (~bn) Ebit (~bn) total Ebit

    Q2FY19 53.2 81.2 33.50

    Q1FY19 53.2 78.6 34.34

    Q4FY18 56.1 64.4 41.18

    Q3FY18 61.7 57.5 47.24

    Q2FY18 66.2 49.6 59.74

    Q1FY18 63.9 40.3 67.12

    158.8

    154.9

    136.2

    130.6

    110.8

    95.2Such late night-flights, popularly called ‘red-eye’ flights, willbe offered at fares considerably lower than normal

    According to industryexperts, a tight crudemarket has reduced RIL’scompetitive advantageof sourcing difficult-to-process cargoes as thepremium on these itemshas come off

    Guido Kerkhoff, chief executive officer of ThyssenKrupp AG. The biggeststeelmaking nation has reshaped the industry in the past three years byclosing plants, tightening environmental controls and imposing targetedproduction curbs PHOTO: BLOOMBERG

    AI is gearing upto launch red-eye flightsbeginingNovember 30.The flights willoperate daily

    BENJAMIN KATZLondon, 27 October

    Airbus SE has a mighty chal-lenge ahead of it, one thatseems to be getting tougher.

    The European planemakeris targeting deliveries ofaround 800 commercial air-craft this year, an 11 per centjump from 2017. To do it,Airbus needs to hand oversome 300 jets in its final quar-ter, which would be a record.But delays with engines madeby Rolls-Royce Holdings are adding to the degree of dif-ficulty.

    On Friday, BloombergNewsreported that Rolls-Royce had fallen behindschedule on deliveries forAirbus’s new model, theA330neo. Rolls was aiming toprovide 30 of its Trent 7000engines to Airbus by the end ofthis month, which would allowthe Toulouse, France-basedplanemaker to deliver 15 of thewide-body aircraft to cus-tomers by year-end.

    But Airbus will only get 10engines, enough for five