Financial Results & Auditors Report for March 31, 2013 (Audited)
Link: Click Here
My Views:
After Thangamayil, this is second company in our list that has reported loss in this quarter.
Somewhere in the back of my mind, this was expected. As per the mail I got from Photoquip's Management, they started sales of CORVI products from 14th Jan 2013. Every new business has its own difficulties while starting.
Marketing and advertising expense is probably highest during the initial phase of new business.
Lets talk about the numbers.
Revenues have grown 31% YoY, and have grown 16% QoQ.
Company has reported heavy loss in this quarter mainly due to advertising and marketing expense of their new venture CORVI, as it seems. The actual loss reported for this quarter is 5.14 Crs, due to which the EPS for the quarter comes out to be -10.
As far as I feel, there is nothing much to worry, inspite of such numbers.
Promoters have been accumulating 5% shares year after year. Even when they did not had good time last year, they were not able to accumulate shares from open market on daily basis, but still, on the last day of FY13, they accumulated 4% shares on a single day to complete their quota of 5% for FY13.
If one is looking at the order placement daily in last few days, one can see that at the start of every session, there is an buy order of 1000 shares at 41 Rs. Whether that order gets executed or not, one can again see that same order placed at the start of next session. There is a very high probability that this again could be the act of proxies who then transfer all the shares to the name of promoters whenever required.
Since past 3 years, money invested in Photoquip is behaving like money kept in locker of Bank. It is still as it is. The price of Photoquip in past 3 years has neither appreciated nor depreciated from 40 levels on an average.
But still I am very much hopeful, because of company's innovations and future plans.
We dont know how much more time is needed for company to make its new business stable, hence we are not in a position to set any targets for this counter.
Friday, May 31, 2013
Money Matters - Latest News
The name of the company is changed and approved by the management and is now called Capri Global Capital Limited.
Financial Results for March 31, 2013 (Audited)
Link: Click Here
Money Matters Financial Services Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 30, 2013, inter alia, has decided the following:
1. Recommended a final dividend of Rs. 1.50 per Equity share of Rs. 10/- each (i.e.15%) for the year ended March 31, 2013.
2. Appointed Mr. Alwyn D'sauza, Company Secretary in Practice as Scrutinizer for conduct of the Postal Ballot process.
3. Initiated Postal Ballot process pursuant to Section 192A of the Companies Act, 1956 read with the Companies (Passing of the Resolution by Postal Ballot) Rules, 2001, and approved Notice and calendar of event for:
a. Change the name of the Company from to 'Capri Global Capital Limited';
b. Set up a limit of Rs. 3000 Crores for investments/lending under subsection (1) of section 372A of the Companies Act 1956;
c. Increasing Borrowing Limits of the Company up to Rs. 2000 Crores under section 293(1)(d) of the Companies Act 1956; and
d. Authoring Board to create Charge on assets of the Company to secure borrowings by the Company under section 293(1)(a) of the Companies Act 1956.
My Views:
I have got no words to describe the strong growth that has been shown consistently by the company.
This is second consecutive quarter where company has shown more than 400% growth in revenues YoY.
Revenues has grown from 183 Crs to 836 Crs YoY and grown from 508 crs to 836 Crs QoQ.
Net Profit has grown from 13 Crs to 21 Crs YoY and grown from 20 Crs to 21 Crs QoQ.
Lets evaluate the yearly performance:
Revenues has grown from 556 Crs to 1852 Crs on yearly basis from FY12 to FY13, which is unbelievable.
Net Profit has grown from 40 Crs to 74 Crs, which takes EPS from 11.55 to 21.28
Company is sitting on a cash reserve of 843 Crs which is unbelievable considering the fact that market capitalization of the company is only 596 Crs.
Frankly speaking, I dont know why this stock is only trading at only 170 Rs per share, but that is of course, not in my hands. The reason I feel, could be that, this company, was found involved in bribery earlier in 2010, about which, I mentioned in earlier post on Money Matters.
I suggested this stock when it was around 105-110 levels, and I also mentioned about all the risk and everything associated with this stock. I feel that this stock has got unlimited upside potential, but still, as I said earlier also, it depends on risk taking ability of each person.
Financial Results for March 31, 2013 (Audited)
Link: Click Here
Money Matters Financial Services Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 30, 2013, inter alia, has decided the following:
1. Recommended a final dividend of Rs. 1.50 per Equity share of Rs. 10/- each (i.e.15%) for the year ended March 31, 2013.
2. Appointed Mr. Alwyn D'sauza, Company Secretary in Practice as Scrutinizer for conduct of the Postal Ballot process.
3. Initiated Postal Ballot process pursuant to Section 192A of the Companies Act, 1956 read with the Companies (Passing of the Resolution by Postal Ballot) Rules, 2001, and approved Notice and calendar of event for:
a. Change the name of the Company from to 'Capri Global Capital Limited';
b. Set up a limit of Rs. 3000 Crores for investments/lending under subsection (1) of section 372A of the Companies Act 1956;
c. Increasing Borrowing Limits of the Company up to Rs. 2000 Crores under section 293(1)(d) of the Companies Act 1956; and
d. Authoring Board to create Charge on assets of the Company to secure borrowings by the Company under section 293(1)(a) of the Companies Act 1956.
My Views:
I have got no words to describe the strong growth that has been shown consistently by the company.
This is second consecutive quarter where company has shown more than 400% growth in revenues YoY.
Revenues has grown from 183 Crs to 836 Crs YoY and grown from 508 crs to 836 Crs QoQ.
Net Profit has grown from 13 Crs to 21 Crs YoY and grown from 20 Crs to 21 Crs QoQ.
Lets evaluate the yearly performance:
Revenues has grown from 556 Crs to 1852 Crs on yearly basis from FY12 to FY13, which is unbelievable.
Net Profit has grown from 40 Crs to 74 Crs, which takes EPS from 11.55 to 21.28
Company is sitting on a cash reserve of 843 Crs which is unbelievable considering the fact that market capitalization of the company is only 596 Crs.
Frankly speaking, I dont know why this stock is only trading at only 170 Rs per share, but that is of course, not in my hands. The reason I feel, could be that, this company, was found involved in bribery earlier in 2010, about which, I mentioned in earlier post on Money Matters.
I suggested this stock when it was around 105-110 levels, and I also mentioned about all the risk and everything associated with this stock. I feel that this stock has got unlimited upside potential, but still, as I said earlier also, it depends on risk taking ability of each person.
Wednesday, May 29, 2013
Cravatex Ltd - Latest News
Financial Results for March 31, 2013
Link: Click Here
Board recommends Dividend
Cravatex Ltd has informed BSE that subject to approval of Members in the Annual General Meeting, the Board of Directors in their Meeting held on May 28, 2013, interalia, have recommended a dividend of Rs. 3.50 per equity share (35%).
My Views:
Cravatex still has lot of work to do. The standalone results have improved compared to last few quarters.
The revenues has gone up by 21% YoY, and 13% QoQ.
The net profit has gone up by 44% YoY and actually gone down by 9% QoQ.
If I am not wrong, I think this is their record revenues on standalone basis. But still the growth is not impressive.
Cravatex has never been a high dividend paying company, hence a dividend of 3.5 Rs per share is not a surprise to me.
The Net Profit of the company could have been much higher, if Rs wouldn't have depreciated so much. But this seems to be general statement now, with every quarterly results of Cravatex. The way Rs is behaving off-late, it doesn't seem that Rs is going to come down against dollar in near future, but you never know.
After a stupendous increase of revenues in FY12 from FY11, where it grew from 95 Crs in FY11 to 160 Crs in FY12, this time the revenue growth proved to be absolutely flat, where it grew from 160 Crs in FY12 to 171 Crs in FY13.
But the stock price has already depreciated enough because of this fact.
In my opinion, I don't see much more downside from here. The one holding this share can continue to hold and wait if something big happens in the near future.
Its difficult to predict the movement of stock price after this result, as stock has been very very illiquid in last few days.
Link: Click Here
Board recommends Dividend
Cravatex Ltd has informed BSE that subject to approval of Members in the Annual General Meeting, the Board of Directors in their Meeting held on May 28, 2013, interalia, have recommended a dividend of Rs. 3.50 per equity share (35%).
My Views:
Cravatex still has lot of work to do. The standalone results have improved compared to last few quarters.
The revenues has gone up by 21% YoY, and 13% QoQ.
The net profit has gone up by 44% YoY and actually gone down by 9% QoQ.
If I am not wrong, I think this is their record revenues on standalone basis. But still the growth is not impressive.
Cravatex has never been a high dividend paying company, hence a dividend of 3.5 Rs per share is not a surprise to me.
The Net Profit of the company could have been much higher, if Rs wouldn't have depreciated so much. But this seems to be general statement now, with every quarterly results of Cravatex. The way Rs is behaving off-late, it doesn't seem that Rs is going to come down against dollar in near future, but you never know.
After a stupendous increase of revenues in FY12 from FY11, where it grew from 95 Crs in FY11 to 160 Crs in FY12, this time the revenue growth proved to be absolutely flat, where it grew from 160 Crs in FY12 to 171 Crs in FY13.
But the stock price has already depreciated enough because of this fact.
In my opinion, I don't see much more downside from here. The one holding this share can continue to hold and wait if something big happens in the near future.
Its difficult to predict the movement of stock price after this result, as stock has been very very illiquid in last few days.
Tuesday, May 28, 2013
Gulshan Polyols - Latest News
Financial Results for March 31, 2013 (Audited)
Link: Click Here
Board recommends Dividend:
Recommended a dividend @ 50%, (Rs. 2.50/- per equity share) to the Equity Shareholders of the Company.
My Views:
Gulshan Polyols has posted a 20% increase in revenues YoY and almost 21% increase in revenues QoQ.
Net Profit of the company has increased by a staggering 108% YoY and a meager 11% QoQ.
So, both, in terms of Net Profit as well as Revenues, the result looks outstanding to me.
Annual EPS posted by the company is 27 against the share price of 65, which is quite unbelievable as it makes the P/E ratio standing at 2.4 against the industry P/E of 32.
Dividend declared by the company is double compared to last year where it was 1.25 Rs per share.
Just having a look at all these factors, I dont think I need to mention anything else.
Just thought of posting a comment by my friend totalview on moneycontrol board:
It`s a steal at CMP !!!! An EPS of Rs.27.43 and dividend enhanced by 100%(@ 50% and earlier 25%) !!!! Look at the cash balance of the company, it`s more than Rs.28 crores) and capital is just Rs.4.22 crores !!! It`s discounted PE is just a little more than 2 !!!!!
Link: Click Here
Board recommends Dividend:
Recommended a dividend @ 50%, (Rs. 2.50/- per equity share) to the Equity Shareholders of the Company.
My Views:
Gulshan Polyols has posted a 20% increase in revenues YoY and almost 21% increase in revenues QoQ.
Net Profit of the company has increased by a staggering 108% YoY and a meager 11% QoQ.
So, both, in terms of Net Profit as well as Revenues, the result looks outstanding to me.
Annual EPS posted by the company is 27 against the share price of 65, which is quite unbelievable as it makes the P/E ratio standing at 2.4 against the industry P/E of 32.
Dividend declared by the company is double compared to last year where it was 1.25 Rs per share.
Just having a look at all these factors, I dont think I need to mention anything else.
Just thought of posting a comment by my friend totalview on moneycontrol board:
It`s a steal at CMP !!!! An EPS of Rs.27.43 and dividend enhanced by 100%(@ 50% and earlier 25%) !!!! Look at the cash balance of the company, it`s more than Rs.28 crores) and capital is just Rs.4.22 crores !!! It`s discounted PE is just a little more than 2 !!!!!
Saturday, May 25, 2013
Thangamayil Jewellery - Latest News
Q4 Result and Press Release: Click Here
Board recommends Dividend:
Thangamayil Jewellery Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 24, 2013, inter alia, has recommended a dividend of 50% i.e. Rs. 5/- per equity share of face value of Rs. 10/- each subject to share holders approval in the ensuing Annual General Meeting.
My Views:
As expected, the results proved to be disappointing, and it seems that the trend might continue at least for next quarter. But still there are many positives that can be taken from the results.
If one compares revenues YoY, you will still find around 17-18% growth which is not bad during tough times.
Of course, we should not neglect the fact that this is probably the first time, company has reported loss. EPS of -4.
So its important to know the reasons, apart from recent disaster with gold, that contributed to heavy expenses.
If we look at the press release, it says, that Advertising and Publicity expense, has gone to 13 Crs from 2 Crs last year same quarter (which indicates an expense increase by 650%). To add to that, Employee Benefit expense has gone up to 6.6 Crs from 3.1 Crs.
Both these expenses, looks good for long term, even if it has resulted into loss as of now.
Considering the fact that promoters have been buying around 190-200 levels, and also some buying around 250-275 levels, the fundamentals of the company still looks promising.
With new branches coming up every few days, and no change in demand of gold in South India, I would advice people to still hold and may be buy on dips.
Dividend of 5 Rs per share seems to be disappointing, considering the fact that last year, at around same stock price, they gave a dividend of 7 Rs per share. But that is evident seeing the fact that the net profit for the year ended March 2013 is exactly half to that of year ended March 2012.
Take your own decision after proper analysis, because this stock is dependent on a commodity, and price of commodity doesn't vary based on fundamentals, it varies according to demand and supply.
Board recommends Dividend:
Thangamayil Jewellery Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 24, 2013, inter alia, has recommended a dividend of 50% i.e. Rs. 5/- per equity share of face value of Rs. 10/- each subject to share holders approval in the ensuing Annual General Meeting.
My Views:
As expected, the results proved to be disappointing, and it seems that the trend might continue at least for next quarter. But still there are many positives that can be taken from the results.
If one compares revenues YoY, you will still find around 17-18% growth which is not bad during tough times.
Of course, we should not neglect the fact that this is probably the first time, company has reported loss. EPS of -4.
So its important to know the reasons, apart from recent disaster with gold, that contributed to heavy expenses.
If we look at the press release, it says, that Advertising and Publicity expense, has gone to 13 Crs from 2 Crs last year same quarter (which indicates an expense increase by 650%). To add to that, Employee Benefit expense has gone up to 6.6 Crs from 3.1 Crs.
Both these expenses, looks good for long term, even if it has resulted into loss as of now.
Considering the fact that promoters have been buying around 190-200 levels, and also some buying around 250-275 levels, the fundamentals of the company still looks promising.
With new branches coming up every few days, and no change in demand of gold in South India, I would advice people to still hold and may be buy on dips.
Dividend of 5 Rs per share seems to be disappointing, considering the fact that last year, at around same stock price, they gave a dividend of 7 Rs per share. But that is evident seeing the fact that the net profit for the year ended March 2013 is exactly half to that of year ended March 2012.
Take your own decision after proper analysis, because this stock is dependent on a commodity, and price of commodity doesn't vary based on fundamentals, it varies according to demand and supply.
Tuesday, May 21, 2013
Infinite Computers Ltd. - Latest News
Financial Results & Auditors Report for March 31, 2013
Link: Click Here
Board recommends Final Dividend
Link: Click Here
Press Release
Link: Click Here
Infinite Computers Enters The Elite List of Respected Software Companies, To Receive Coveted
Link: Click Here
Q4 traditionally weak quarter, Q3 strong
Link: Click here
My Views:
If we just look at the standalone numbers for this quarter, it has been disappointing compared to last quarter i.e. Q3-FY13. But as per the management, "Q3 has always been a very strong quarter, and Q4 has been a weak one for the company."
If we agree with them and go back and compare the numbers with same quarter last year, then one can get a sigh of relief that still there has been a significant growth YoY.
Revenues has grown by 23% and net profit has grown by a staggering 125%, which is not bad.
The company has a record of paying good dividend to its investors, which is another good sign.
Another important point is that, promoters were on a buying spree when the stock was around 150-160 levels, and they haven't sold a single share yet.
Current Market trend is negative for this script, hence it might see lower levels, but its looking good for long term.
Link: Click Here
Board recommends Final Dividend
Link: Click Here
Press Release
Link: Click Here
Infinite Computers Enters The Elite List of Respected Software Companies, To Receive Coveted
Link: Click Here
Q4 traditionally weak quarter, Q3 strong
Link: Click here
My Views:
If we just look at the standalone numbers for this quarter, it has been disappointing compared to last quarter i.e. Q3-FY13. But as per the management, "Q3 has always been a very strong quarter, and Q4 has been a weak one for the company."
If we agree with them and go back and compare the numbers with same quarter last year, then one can get a sigh of relief that still there has been a significant growth YoY.
Revenues has grown by 23% and net profit has grown by a staggering 125%, which is not bad.
The company has a record of paying good dividend to its investors, which is another good sign.
Another important point is that, promoters were on a buying spree when the stock was around 150-160 levels, and they haven't sold a single share yet.
Current Market trend is negative for this script, hence it might see lower levels, but its looking good for long term.
Monday, May 6, 2013
Trading an Illiquid Stock
Due to new SEBI guidelines, approximately 2100 stocks were moved to illiquid stocks category, effective 8th April 2013.
Circular prepared by SEBI for illiquid stocks.
Link: Click Here
How to trade an illiquid stock:
1) 6 periodic call auction sessions (1 hour each) would be held daily.
First session will start at 9.30 AM, and the last would be at 2.30 PM. From a session of 1 hours, 45 minutes will be for order entry, order modification and order cancellation, 8 minutes will be for order matching and trade confirmation and remaining 7 minutes shall be a buffer period for closing the current session and facilitating the transition to next session.
2) To trade, one can place the order between 9.30 AM and 10.15 AM, and respectively going ahead for every session. User won't be allowed to place any orders from 10.15 AM to 10.30 AM. This time period will be used for settling trades. If a matching trade is found between yours and someone else's order (buy and sell), that will be settled in 15 mins period.
3) If there is no match found for your order, in that session, your order will be cancelled. It wont be carry forwarded to next session. Hence, you will have to place your order again, if it doesn't get executed, in a particular session.
Because of the above rule, one cannot place the order in the morning and leave, like what it was, before. One has to keep an eye on a particular session, to get his order executed.
Among all the stocks suggested on this site, Photoquip India, Money Matters Financial Services, Gulshan Polyols and Cravatex are trading in this category.
I have tried my best to explain trading on illiquid stocks categorized by SEBI.
Still, if someone is unclear, please feel free to post your queries here.
Circular prepared by SEBI for illiquid stocks.
Link: Click Here
How to trade an illiquid stock:
1) 6 periodic call auction sessions (1 hour each) would be held daily.
First session will start at 9.30 AM, and the last would be at 2.30 PM. From a session of 1 hours, 45 minutes will be for order entry, order modification and order cancellation, 8 minutes will be for order matching and trade confirmation and remaining 7 minutes shall be a buffer period for closing the current session and facilitating the transition to next session.
2) To trade, one can place the order between 9.30 AM and 10.15 AM, and respectively going ahead for every session. User won't be allowed to place any orders from 10.15 AM to 10.30 AM. This time period will be used for settling trades. If a matching trade is found between yours and someone else's order (buy and sell), that will be settled in 15 mins period.
3) If there is no match found for your order, in that session, your order will be cancelled. It wont be carry forwarded to next session. Hence, you will have to place your order again, if it doesn't get executed, in a particular session.
Because of the above rule, one cannot place the order in the morning and leave, like what it was, before. One has to keep an eye on a particular session, to get his order executed.
Among all the stocks suggested on this site, Photoquip India, Money Matters Financial Services, Gulshan Polyols and Cravatex are trading in this category.
I have tried my best to explain trading on illiquid stocks categorized by SEBI.
Still, if someone is unclear, please feel free to post your queries here.
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