World Of Change

Bored of the same old names? Well, here are some new success stories that have stormed their way in

IT’S SURELY to be billed as the most dramatic entry: While 12 billionaires have increased their wealth by over 1000 per cent this year, there are at least eight new names in the list. Sure, we have already spoken about the biggest gainer, Jignesh Shah, promoter of Financial Technologies, and then there’s PK Jain & family – promoters of Gujarat Fluorochemicals – part of the old guard. But here are some hidden performers that need to be presented.

Anil Sarin, Ashok Sarin, M L Bhasin and H L Bhasin – the four promoters of Anant Raj Industries – have recorded a breathtaking growth of 3,359 per cent in the market price. It was worth Rs 8.21 crore a year ago, and thanks to the plan to merge four construction subsidiaries, networth shot up to Rs 284.12 crore.

The promoter of Lakshmi Overseas, Balbir Singh Uppal, is the second biggest gainer whose networth has shot up 2,429 per cent to Rs 173.24 crore from Rs 6.85 crore a year ago. The company has set up an integrated paddy processing unit, a rice mill and a sunflower and vegetable oil seeds processing unit. In 2004-05 the company had a net profit of Rs 21.85 crore and in the last four quarters, it has achieved a net profit of Rs 28 crore. Interestingly enough, Singh has been successful in attracting the interest of FIIs by increasing their holding limits from 24 per cent to 49 per cent, and the FIIs have responded by buying a 12.20 per cent stake in the company last year. No wonder the value of the stock has risen from Rs 10 to Rs 420 in a year.

Thanks to a 1899.60 per cent jump in the market price of Zen Technologies, its promoters Ashok Atluri, Ravi Kumar and Satish Atluri, are the next in The Billionaires Club list. The company changed focus from hardware to software and had successfully developed a small arms training simulator used for training of police, paramilitary and armed forces. The promoters set up facilities for manufacture of advanced weapons training simulators viz. Tactical Engagement Simulators (TacSim) and interactive Small Arms Training Simulator (iSATS) at Hyderabad at an estimated cost of Rs 668 lakh.

The promoter of Zenotech Laboratories, Jayaram Chigurupati, enters the list next and is worth Rs 107.26 crore.

His wealth has jumped 1671 per cent. Similarly, J K Malhoutra, the promoter of Dynamatic Technologies, has seen his net worth soar 1270 per cent to Rs 227.39 crore from Rs 16.60 crore a year ago. Malhoutra floated Dyanamatic Hydraulics, a medium-scale engineering unit specialising in the production and marketing of hydraulic elements, fluid systems and specialised engineering products. DTL manufactures hydraulic gear pumps, control valves, hand pumps and other hydraulic elements. Today, it is the largest manufacturer of gear pumps in India.

Another find in the list are Annapurna G and Padmaja R, promoters of Helios & Matheson. Their networth has gone up 1216 per cent to Rs 181.93 crore. They are followed by Radhakrishna R Ruia, promoter of Phoenix Mills whose networth is up 1188 per cent to Rs 527.85 crore. Finally, we have MD Mundhra, promoter, Simplex Concrete Piles. His networth has shot up 1068 per cent to Rs 367.81 crore.•