Confidence Petroleum India Ltd
Confidence Petroleum India Ltd - Cylinder, ANG, LPG, CNG and Bottling company - dream of a global player
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4 comments:
FY08 Topline of 151 crores and bottomline of 25 crore.
Consolidated EPS of 0.98/- per share.
Other Highlights
================
The company has started the execution of new projects
- to install Auto LPG Dispensing Stations (ALDS stations) across the nation for which the brand name GO - GAS has been finalized. Further a new company named as Confidence Go Gas Ltd has been registered as 100% subsidiary of Confidence Petroleum India Ltd to undertake the operations.
- to manufacture Auto LPG Cylinder & LPG Cylinder at its newly acquired unit at Halol near Baroda, Gujarat. The aforesaid unit is undergoing major expansion and overhaul.
- to manufacture High Pressure / CNG cylinders IN SEZ located at Vizag & Uttranchal.
Read the importance of Energtek tieup below:
Israeli startup turns Asia's three-wheelers green
By Sharon Kanon July 29, 2008
A snazzy green Yamaha RS100T motorcycle with a sidecar will be the greenest taxi in the Philippines in the near future. The vehicle will be fitted with three compact cylinders of natural gas, using technology developed by Israeli-American company, Energtek.
Energtek's recent announcement of the first successful conversion of a three-wheeled vehicle to natural gas for commercial purposes created a buzz in motorcycle media, green publications and blogs worldwide.
"Natural Gas is the most practical motor fuel alternative to gasoline," Lev Zaidenberg, Energtek's CEO, tells ISRAEL21c. "Extraordinary quantities exist. And, it is cheaper and cleaner than gasoline."
With oil prices skyrocketing, and increased concern about pollution, Energtek's proprietary ANG technology is a breakthrough for countries where two and three-wheeled vehicles predominate. During the past year, Energtek has successfully entered three Asian markets - the Philippines, India, and Indonesia.
There are about 300 million two and three wheeled vehicles on the road worldwide - some 25 percent of the world's automotive market; and nearly 85 percent of them are in Asia. Small 2-stroke engines which get a quick surge of power because combustion is completed in only two stokes of the piston, rather than four as in a car, are popular.
Ban on polluting vehicles
Tricycles or vespas are relatively low-cost to buy, but - and this is a big drawback -- they emit high levels of smoky pollution when powered by gasoline. In a drastic measure to try to control pollution, the Philippine government is about to put a ban on the use of highly polluting two-stroke vehicles, powered with gasoline.
"Energtek's technology provides a solution for two million tricycle drivers to continue to operate their vehicles, preventing them from suffering a significant loss of livelihood..." says Ariel P. Lim, the Philippine President's Special Advisor for Public Transport Affairs.
Last Wednesday, Energtek signed an agreement with the Philippine National Oil Company to convert half a million three-wheeled vehicles to natural gas within three to four years.
Energtek will buy the gas from stranded wells in the province of Isabela, and use its technology in a multi-phase conversion project, dubbed "the world's first commercial ANG project." It hopes to convert 50,000 tricycles within 18 months. This initiative is expected to generated revenues of $20 million in vehicles equipment sales and $40 million in annual gas sales.
Inventive contributions
"Our R&D division (Angstore) spent more than six years on research and development," says Zaidenberg, a maverick entrepreneur who also founded Mutek, as well as Angstore, and has received awards for his inventive contributions to the Israel Air Force and the Israel Computer Society.
He's not the only well known name at the company. Prof. Yuri Ginzburg, the company's CTO, is a world expert in the automotive industry, and a specialist in alternative fuel systems. Eliezer Sandberg, chairman of the board, is a former Israel Minister of National Infrastructure.
Investors in the company include a major Swiss bank, a UK Fund, and an Austrian investment company that specializes in the energy field.
Energtek is the first company to produce a cost-effective Adsorbed Natural Gas (ANG) system. ANG technology is a storage system that adds solid nano-porous activated carbon material (like the kind used as filters in fish tanks) to adsorb (not absorb) natural gas (NG).
Molecules of methane stick close together on the material becoming a dense film. These molecules are then compressed into less space while using a third less pressure than typical Compressed NG systems. With more gas power capacity in each tank, driving ranges are increased. Three cylinders (which look like scuba diving tanks), with eight liters each, contain enough fuel for 100-120 kilometers of driving.
In the past, alternative storage systems have proved more expensive than the vehicles, and Energtek's unique ANG technology application is the first that has passed road tests in the Philippines and India.
"Natural Gas is abundant but often 'stranded,' not easily accessible," explains Zaidenberg. "Our innovative technology is not dependent on pipelines. Unlike oil, natural gas does not have to be refined.
The plan in the Philippines pilot project is to compress the Natural Gas on the stranded gas site into small cylinders that will then be shipped to distribution outlets throughout the country.
-manish
FY09 Q1 results:
Topline of 45.6 crores, bottomline of 6.8 crores.
EPS at 0.23/-
- The amalgamation of M/s Maharashtra Cylinders Pvt Ltd, M/s Khara Gas Equipments Pvt Ltd and M/s Hans Gas Appliances Pvt Ltd is under process hence their figures are being not considered. The company has already received in principle approval from the Bombay Stock Exchange and is under process for filing scheme to the High Court.
- The Board of Directors has approved buyback of up to 1,28,50,000 equity shares of face value of Re 1 each (representing 5% of paid up equity capital), up to a maximum price of Rs 20/- per share through open market. The Board has appointed committee of two directors comprising Shri Nitin Khara & Shri Sumant Sutaria to do such acts and other things as may be necessary for the same.
- The company is implementing Auto LPG Dispensing Stations (ALDS stations) under its 100% subsidiary - Confidence Go Gas Ltd. The company is expecting to commission 35 stations before March 31, 2009.
- The company is implementing High Pressure / CNG Cylinders projects in SEZs located at Vizag & Uttranchal. Both the unit is expected to be commission before the end of December 2008.
-manish
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