Financial Results & Limited Review for June 30, 2013
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There was a major delay in posting the details about the Q1 Result from Money Matters (Capri Global Capital Ltd) from the day when they actually declared the result. The reason was, I wanted to understand the change they have made in showing the results from this quarter onwards. I mailed the company also, regarding the same, but they didnt reply as yet.
Hence finally, I decided to get into it myself, and found out the changes. It was simple.. :-)
If we consider the way they used to declare results earlier, then Revenues have once again jumped 400% from 190 Cr to 836 Cr YoY. (Check Point No. 8 in Press release to get this detail)
But, we wont be considering that method now.
We will start analysing the results according to new method.
The change in method is mentioned in Point No. 7 of Press release which says that "The company was earlier presenting the operating income on Gross Basis showing the sales in Bonds and securities and corresponding purchases and inventory movements seperately. However to reflect the net income generated from such activities, the company has decided to show revenues from operations on net basis from this quarter onwards. According the previous quarter numbers are recasted and reclassified."
This means that according to new method, the terms "Purchase of Traded Goods" and "Purchase of Traded Goods" in Expense section of result sheet, will be deducted firt from Gross Revenues and then, the net revenues will be shown. If one opens the result, he/she will understand this. So, in the result sheet from now on, you will not see any amount in the terms mentioned above, because they are already deducted.
Gross Sales = Total Sales in Bonds + Securities
Net Sales = Total Sales in Bonds + Securities - "Purchase of Traded Goods" - "Purchase of Traded Goods"
Net Sales will be considered as Revenues from now on.
Taking that consideration, lets look into results now.
Net Revenues stands at 34.15 Cr from 27.77 Cr YoY, which is 23% growth and from 33.54 Cr QoQ, which is almost flat.
Net Profits stands at 17 Cr from 13.61 Cr YoY, which is close to 25% growth, but it has come from 22.26 Cr to 17 Cr QoQ.
All in all, seems a good result in bad times.
My Views:I maintain my view here that it is an excellent stock for long term investment. Business is growing steadily, and now with this new collabration with Capri Global Capital, it should grow further. The only problem with this script is that it is very very illiquid. The general behaviour shown by this kind of scripts is that, they start moving up suddenly with volumes, achieve the levels it wants to, and then again goes into silent zone like it is right now.
If one takes my advise, I would say, dont miss a chance to enter the stock, whenever you get one.
Monday, August 19, 2013
Sunday, August 18, 2013
Cravatex Ltd - Q1 Result
Financial Results & Limited Review for June 30, 2013
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Outcome of AGM
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Extremely poor numbers reported by Cravatex, which exactly justified the fall in stock price from 400 odd levels to 250.
Revenues have gone down from 39.71 Cr to 35.40 Cr. We cant blame rupee for decline in revenues. If it could just have been a matter of less profit, then it would still have been acceptable. But decline in revenues is a serious reason to worry.
Net Profit has gone down severely from 1.76 Cr to just 0.78 Cr. Because of such profits, EPS has gone down from 6.82 to 3.03.
My View:
Doesn't look like there is any point in investing in Cravatex at this moment. As I mentioned earlier, decline in revenues this time, is big reason to worry. This means that either they are not able to compete in this market or there is a serious decline in demand of such fitness and sporting products because of depression. Once again, we have a case similar to Photoquip. It will only be wise on our side, to invest in these companies, once they start moving up. For those who are already holding, can wait for some more quarter to see if business improves, or if rupee becomes stronger, to see some upside in this counter.
Link: Click Here
Outcome of AGM
Link: Click Here
Extremely poor numbers reported by Cravatex, which exactly justified the fall in stock price from 400 odd levels to 250.
Revenues have gone down from 39.71 Cr to 35.40 Cr. We cant blame rupee for decline in revenues. If it could just have been a matter of less profit, then it would still have been acceptable. But decline in revenues is a serious reason to worry.
Net Profit has gone down severely from 1.76 Cr to just 0.78 Cr. Because of such profits, EPS has gone down from 6.82 to 3.03.
My View:
Doesn't look like there is any point in investing in Cravatex at this moment. As I mentioned earlier, decline in revenues this time, is big reason to worry. This means that either they are not able to compete in this market or there is a serious decline in demand of such fitness and sporting products because of depression. Once again, we have a case similar to Photoquip. It will only be wise on our side, to invest in these companies, once they start moving up. For those who are already holding, can wait for some more quarter to see if business improves, or if rupee becomes stronger, to see some upside in this counter.
Saturday, August 17, 2013
Photoquip India - Q1 Result
Financial Results for June 30, 2013
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Details Related To CORVI
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Photoquip Magazine ad
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Result for this quarter is neither so impressive nor so disappointing.
Revenues stands at 22.58 Cr from 19.01 Cr YoY, which represents about 18% growth.
The company reported a net loss of 0.4 Cr vs a profit of 1.17 Cr YoY, which was expected.
My Views:
Nothing much left to say in this counter now. It makes no sense in investing in such scripts where average volumes per week is about 50. It is always advisable to enter such scripts once they start moving up with strong volumes. It may happen that you might get a chance to enter at 50 Rs then instead of 40 Rs today, but it should not matter, because we don't know when this script will start moving up. It might even take 2-3 years. In that case, its better advised to keep your money in bank, rather than investing in Photoquip.
Those who are already invested and believe in company's fundamental, can continue to hold for long term, but for new entrants, I would advise to invest, only when stock starts shooting up with good volumes.
Link: Click Here
Details Related To CORVI
Link: Click Here
Photoquip Magazine ad
Link: Click Here
Result for this quarter is neither so impressive nor so disappointing.
Revenues stands at 22.58 Cr from 19.01 Cr YoY, which represents about 18% growth.
The company reported a net loss of 0.4 Cr vs a profit of 1.17 Cr YoY, which was expected.
My Views:
Nothing much left to say in this counter now. It makes no sense in investing in such scripts where average volumes per week is about 50. It is always advisable to enter such scripts once they start moving up with strong volumes. It may happen that you might get a chance to enter at 50 Rs then instead of 40 Rs today, but it should not matter, because we don't know when this script will start moving up. It might even take 2-3 years. In that case, its better advised to keep your money in bank, rather than investing in Photoquip.
Those who are already invested and believe in company's fundamental, can continue to hold for long term, but for new entrants, I would advise to invest, only when stock starts shooting up with good volumes.
Thursday, August 15, 2013
Infinite Computers - Q1 Result
Financial Results & Auditors Report for June 30, 2013
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Results Press Release, Fact Sheet Q1 & Analyst Earnings Call Q1
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SPA Capital Advisors Limited has submitted to the Exchange copy of advertisement published in newspapers on August 09, 2013 regarding completion of 25% of the Buy-Back Offer
Link: Click Here
Frankly speaking, the results were much below expectations, especially considering the fact that the current rupee-dollar environment is very good for IT Companies.
On consolidated basis, the revenues stands at 402 Cr against 319 Cr YoY (26% growth) and 360 Cr QoQ (12% growth)
Net Profit stands at 24.56 Cr against 35.39 Cr YoY (30.6% down) and 29.8 Cr QoQ (17.5% down)
My Views:
Frankly speaking, the stock is going up just because of heavy buy back process going on. Otherwise you cannot get 30% rise in about 2 months, especially with slightly disappointing last 2 quarter numbers. If one asks me, I would advice to book some profit (may be about 20%) at levels around 120, and then wait for next few quarters, to see if there is improvement in numbers going ahead. The delivery percentage was on high side even on the day after such numbers, means that some buy back took place on that day also, which probably was the reason for just a mild downside on stock price. Long term investors looking for price of 150-200 will have to wait for some more quarters to see if numbers improve and then take a decision.
Link: Click Here
Results Press Release, Fact Sheet Q1 & Analyst Earnings Call Q1
Link: Click Here
SPA Capital Advisors Limited has submitted to the Exchange copy of advertisement published in newspapers on August 09, 2013 regarding completion of 25% of the Buy-Back Offer
Link: Click Here
Frankly speaking, the results were much below expectations, especially considering the fact that the current rupee-dollar environment is very good for IT Companies.
On consolidated basis, the revenues stands at 402 Cr against 319 Cr YoY (26% growth) and 360 Cr QoQ (12% growth)
Net Profit stands at 24.56 Cr against 35.39 Cr YoY (30.6% down) and 29.8 Cr QoQ (17.5% down)
My Views:
Frankly speaking, the stock is going up just because of heavy buy back process going on. Otherwise you cannot get 30% rise in about 2 months, especially with slightly disappointing last 2 quarter numbers. If one asks me, I would advice to book some profit (may be about 20%) at levels around 120, and then wait for next few quarters, to see if there is improvement in numbers going ahead. The delivery percentage was on high side even on the day after such numbers, means that some buy back took place on that day also, which probably was the reason for just a mild downside on stock price. Long term investors looking for price of 150-200 will have to wait for some more quarters to see if numbers improve and then take a decision.
Wednesday, August 14, 2013
Gulshan Polyols - Q1 Result
Financial Results & Limited Review for June 30, 2013
Link: Click Here
First of all, apologies for posting the details of result, after 10 days of declaration. Was very busy in last few days.
The slow and steady pace of growth continues with Gulshan Polyols. Another good set of numbers posted by the company and with some strong promoter buying even in illiquid category, the future looks very bright.
Revenues stands at 82.69 Cr against 67.49 Cr YoY and 79.91 Cr QoQ (Approx 20% growth yoy)
Net Profit stands at 6.72 Cr against 5.65 Cr YoY and 7.2 cr QoQ (Approx 19% growth yoy)
My Views:
The stock definitely seems to be undervalued at current market price. And now that is also reflected in some actions taken by the promoters. They have been involved in buying even in illiquid category. The volumes in last few days, has improved tremendously, and more often than not, they were the promoters who were involved in buying through some of their sources.
One of the finest bets for long term, with good dividend yield and a steady growth of 20% year after year.
Link: Click Here
First of all, apologies for posting the details of result, after 10 days of declaration. Was very busy in last few days.
The slow and steady pace of growth continues with Gulshan Polyols. Another good set of numbers posted by the company and with some strong promoter buying even in illiquid category, the future looks very bright.
Revenues stands at 82.69 Cr against 67.49 Cr YoY and 79.91 Cr QoQ (Approx 20% growth yoy)
Net Profit stands at 6.72 Cr against 5.65 Cr YoY and 7.2 cr QoQ (Approx 19% growth yoy)
My Views:
The stock definitely seems to be undervalued at current market price. And now that is also reflected in some actions taken by the promoters. They have been involved in buying even in illiquid category. The volumes in last few days, has improved tremendously, and more often than not, they were the promoters who were involved in buying through some of their sources.
One of the finest bets for long term, with good dividend yield and a steady growth of 20% year after year.
Ricoh India - Q1 Result
Financial Results & Limited Review for June 30, 2013
Link: Click Here
Ricoh India swings to profit in Q1’FY’14
Link: Click Here
Ricoh India seems to be bang on target to achieve 1000 Cr sales in FY14. So far, with respect to the nature of their business, they have always been weaker, when it comes to performance in Q1 of every year. But they have successfully created an exception over here.
Revenues have grown from 97.56 Cr to 171.09 Cr, which indicates 75.36% growth.
Surprisingly, the company avoided the loss for the quarter, and managed to show a profit of 3.18 Cr vs a loss of almost 28 Cr.
My Views:
The script looks excellent prospect for long term investment. Again the script was locked in upper circuit as soon as the results were announced. But somehow, the stock is not able to hold on to levels above 55. May be the pressure on small cap and mid cap stocks is not helping their cause.
Anyways, being a long term investor, one should not worry about those short term factors, and in my opinion, one can still buy at these levels as of now, until we see how the company performs in next quarter.
Link: Click Here
Ricoh India swings to profit in Q1’FY’14
Link: Click Here
Ricoh India seems to be bang on target to achieve 1000 Cr sales in FY14. So far, with respect to the nature of their business, they have always been weaker, when it comes to performance in Q1 of every year. But they have successfully created an exception over here.
Revenues have grown from 97.56 Cr to 171.09 Cr, which indicates 75.36% growth.
Surprisingly, the company avoided the loss for the quarter, and managed to show a profit of 3.18 Cr vs a loss of almost 28 Cr.
My Views:
The script looks excellent prospect for long term investment. Again the script was locked in upper circuit as soon as the results were announced. But somehow, the stock is not able to hold on to levels above 55. May be the pressure on small cap and mid cap stocks is not helping their cause.
Anyways, being a long term investor, one should not worry about those short term factors, and in my opinion, one can still buy at these levels as of now, until we see how the company performs in next quarter.
Suven Life Sciences - Q1 Result
Financial Results with Results Press Release & Limited Review for June 30, 2013
Link: Click Here
Communication to investors - June 2013
Link: Click Here
Nobody would have expected such a strong set of numbers from Suven Life Sciences.
Revenues have grown 57% YoY and 46% QoQ, which was totally unexpected.
The growth in net profit is quite unbelievable, but still it is true.
Net Profit of the company has grown 273% YoY and 244% QoQ.
My Views:
Frankly speaking, the jump of 15% didn't looked that great when compared with the kind of numbers the company came out with. I was expecting 20% upper circuit on the stock after results, but it didn't happened.
Lets see how much upside is enough to give justice to such numbers posted by the company.
However being a long term investor, its always advisable not to get carried away by performance in 1 quarter.
Hence, we will continue to observe the numbers quarter after quarter and take the call accordingly.
For now, its looks good, and people might continue to hold for long term.
Go through the details in Communication to Investors PDF, it conveys lots of important information regarding the growth of the company.
Link: Click Here
Communication to investors - June 2013
Link: Click Here
Nobody would have expected such a strong set of numbers from Suven Life Sciences.
Revenues have grown 57% YoY and 46% QoQ, which was totally unexpected.
The growth in net profit is quite unbelievable, but still it is true.
Net Profit of the company has grown 273% YoY and 244% QoQ.
My Views:
Frankly speaking, the jump of 15% didn't looked that great when compared with the kind of numbers the company came out with. I was expecting 20% upper circuit on the stock after results, but it didn't happened.
Lets see how much upside is enough to give justice to such numbers posted by the company.
However being a long term investor, its always advisable not to get carried away by performance in 1 quarter.
Hence, we will continue to observe the numbers quarter after quarter and take the call accordingly.
For now, its looks good, and people might continue to hold for long term.
Go through the details in Communication to Investors PDF, it conveys lots of important information regarding the growth of the company.
Friday, August 2, 2013
Thangamayil Jewellery sees Rs 1,500-1,600 cr sales in FY14
South-based jeweller Thangamayil Jewellery is expecting sales of Rs 1,500-1,600 crore in the current financial year, with growth, especially seen strong around Navratri, Diwali and the local festival Aadi Peruku, a top company official told moneycontrol.com in an interaction.
Thangamayil's net profit in the April-June quarter declined 9 percent year-on-year to Rs 14 crore, despite a 19 percent rise in net sales at Rs 425 crore.
The profits were impacted by one-time loss in inventory due to a fall in gold price. Also, its expenses rose due to higher fuel and power costs, in the wake of the power cuts in Tamil Nadu, LGY Kumar, GM - Finance, said.
Thangamayil's total expenses were up 22 percent to Rs 398 crore in the first quarter.
Below is the edited transcript of Kumar's interview with moneycontrol.com.
Q: Your Q1 net profit was lower despite a 19 percent rise in net sales. What were the key reasons for this?
A: Gold price reduction pushed the sales up. However, the company had to take a single time hit for the loss in Inventory due to the said price reduction and power and fuel cost was on higher side due to power cuts.
Q: The Reserve Bank of India has announced several steps over the last couple of months related to gold imports. What are your views on it? Is there any impact on your business?
A: We are yet to receive the blueprint for the action plan. Instant demand enabling export is not possible. We are yet to learn about treatment of wastage, value addition and concessions to be extended to the industry to compete in the international market.
Q: Now that the wedding season is over, how do you see the demand scenario panning out in Q2 and Q3 at least?
A: On August 3rd is “Aadi Peruku” a regional festival. We feel we will perform better than “Akshaya Trithiya." Offers are already on the anvil, which will continue till the end of August or so. Q3 is expected to perform with Navaratri and Diwali sales.
Q: What is your outlook as far as net sales and profits are concerned for FY14?
A: We have planned to sell around 6 tonne gold apart from silver, diamond and other precious articles. We have targeted sales of Rs 1,500-1,600 crore, with 5 percent profit before tax growth.
Q: What are your retail expansion plans for the year?
A: For this year we have already launched 5 branches in Tier 2 and Tier 3 cities. We plan to launch 5 more branches in the second half of 2013-14 depending on the Government policies and regulations.
Q: Gold prices fell sharply earlier this year. What is your outlook for the rest of the year?
A: It has witnessed the bottom of the curve and now will gradually climb up with higher volatility due to the circulars from time to time on a sudden note.
Q: Do you think a fall in gold prices will dampen investment demand for the yellow metal?
A: No, rather it will augment the sales. Buying power of the individual has gone up and one keeps portion of savings as gold reserve.
Thangamayil's net profit in the April-June quarter declined 9 percent year-on-year to Rs 14 crore, despite a 19 percent rise in net sales at Rs 425 crore.
The profits were impacted by one-time loss in inventory due to a fall in gold price. Also, its expenses rose due to higher fuel and power costs, in the wake of the power cuts in Tamil Nadu, LGY Kumar, GM - Finance, said.
Thangamayil's total expenses were up 22 percent to Rs 398 crore in the first quarter.
Below is the edited transcript of Kumar's interview with moneycontrol.com.
Q: Your Q1 net profit was lower despite a 19 percent rise in net sales. What were the key reasons for this?
A: Gold price reduction pushed the sales up. However, the company had to take a single time hit for the loss in Inventory due to the said price reduction and power and fuel cost was on higher side due to power cuts.
Q: The Reserve Bank of India has announced several steps over the last couple of months related to gold imports. What are your views on it? Is there any impact on your business?
A: We are yet to receive the blueprint for the action plan. Instant demand enabling export is not possible. We are yet to learn about treatment of wastage, value addition and concessions to be extended to the industry to compete in the international market.
Q: Now that the wedding season is over, how do you see the demand scenario panning out in Q2 and Q3 at least?
A: On August 3rd is “Aadi Peruku” a regional festival. We feel we will perform better than “Akshaya Trithiya." Offers are already on the anvil, which will continue till the end of August or so. Q3 is expected to perform with Navaratri and Diwali sales.
Q: What is your outlook as far as net sales and profits are concerned for FY14?
A: We have planned to sell around 6 tonne gold apart from silver, diamond and other precious articles. We have targeted sales of Rs 1,500-1,600 crore, with 5 percent profit before tax growth.
Q: What are your retail expansion plans for the year?
A: For this year we have already launched 5 branches in Tier 2 and Tier 3 cities. We plan to launch 5 more branches in the second half of 2013-14 depending on the Government policies and regulations.
Q: Gold prices fell sharply earlier this year. What is your outlook for the rest of the year?
A: It has witnessed the bottom of the curve and now will gradually climb up with higher volatility due to the circulars from time to time on a sudden note.
Q: Do you think a fall in gold prices will dampen investment demand for the yellow metal?
A: No, rather it will augment the sales. Buying power of the individual has gone up and one keeps portion of savings as gold reserve.
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