BSE Index Analysis, Securties , Standard Experts
Astral Poly Technik, Bharat Forge, Bharti Airtel, Cummins India, GMR Infrastructure, Gujarat State Petronet, Hindalco Industries, ONGC, Power Grid Corporation of India and Tech Mahindra.
Astral Poly Technik :
Day's H/L (Rs) 203.80 - 198.10
52wk H/L (Rs) 223.90 - 124.00
Mkt Cap (Rs Cr) 446.63
info : Indian pipe maker Astral Poly Technik announced it was in “preliminary” talks with US-based Lubrizol Corp for a project, Ohio-based Lubrizol is a unit of Warren Buffett’s investment company, Berkshire Hathaway Inc. A newspaper reported Astral plans to set up a chlorinated poly vinyl chloride making plant at Dahej in the western state of Gujarat, in partnership with the Ohio, US-based speciality chemicals maker. Lubrizol will initially invest $245 million in the venture, which could start production by October 2014, the paper said citing a Gujarat government statement.
“The discussions are at very preliminary stage and the same are subject to detailed negotiations. The company would announce its final plans as and when things are finalised,” Astral said in a statement to the Mumbai stock exchange. Astral is a licensee of Lubrizol, according to the Indian company’s website.
Mr. Sandeep P. Engineer HUF, 51 Salary : 4.95M
Managing Director, Exec. Director, Member of Investors Grievance Committee and Member of Audit Committee
Mrs. Jagruti S. Engineer , 47 , Exec. Director 900.00k
Mr. Mayur M. Vakil , 55
Mr. Hiranand A. Savlani , 44 Chief Financial Officer
Mr. Bipin R. Mehta , 74, Gen. Mang. of Admin.
Source : Astral Poly Technik
Q3 FY12 : Robust Sales;
margins hit due to increase in branding, sales & promotional expenses......
Astral Poly (Astral) reported revenues of ~Rs 161 cr (up 63% YoY; up 18% QoQ) vs. our expectation of ~Rs 140 cr. Operating profit stood at Rs ~16 cr (up 13% YoY; flat on QoQ) with margin at 10%. Adj profit at Rs 9 cr (up 3% YoY; down 4% QoQ). Production volume has gone up by 42% YoY at 9,727 mt during the quarter with actual utilization levels over 85%.
Operating margins: decreased by 446 bps YoY at 10% on account of one time expenditure on branding activities primarily in south coupled with various sales promotional schemes across country. Management commented that these would be normalized going forward.
Notional loss: due to steep rupee depreciation during last qtr company incurred an unrealized loss of Rs 3.6 cr and Rs 11.6 cr for 9M FY12 on the outstanding ECB & FCNR loans which would have an impact on P/L account and would be provided by the company at the end of FY12. We have already discounted this in our valuations.
Astral Poly Technik, Bharat Forge, Bharti Airtel, Cummins India, GMR Infrastructure, Gujarat State Petronet, Hindalco Industries, ONGC, Power Grid Corporation of India and Tech Mahindra.
Astral Poly Technik :
Day's H/L (Rs) 203.80 - 198.10
52wk H/L (Rs) 223.90 - 124.00
Mkt Cap (Rs Cr) 446.63
info : Indian pipe maker Astral Poly Technik announced it was in “preliminary” talks with US-based Lubrizol Corp for a project, Ohio-based Lubrizol is a unit of Warren Buffett’s investment company, Berkshire Hathaway Inc. A newspaper reported Astral plans to set up a chlorinated poly vinyl chloride making plant at Dahej in the western state of Gujarat, in partnership with the Ohio, US-based speciality chemicals maker. Lubrizol will initially invest $245 million in the venture, which could start production by October 2014, the paper said citing a Gujarat government statement.
“The discussions are at very preliminary stage and the same are subject to detailed negotiations. The company would announce its final plans as and when things are finalised,” Astral said in a statement to the Mumbai stock exchange. Astral is a licensee of Lubrizol, according to the Indian company’s website.
Mr. Sandeep P. Engineer HUF, 51 Salary : 4.95M
Managing Director, Exec. Director, Member of Investors Grievance Committee and Member of Audit Committee
Mrs. Jagruti S. Engineer , 47 , Exec. Director 900.00k
Mr. Mayur M. Vakil , 55
Mr. Hiranand A. Savlani , 44 Chief Financial Officer
Mr. Bipin R. Mehta , 74, Gen. Mang. of Admin.
Source : Astral Poly Technik
Q3 FY12 : Robust Sales;
margins hit due to increase in branding, sales & promotional expenses......
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| Astral Poly Technik |
Astral Poly (Astral) reported revenues of ~Rs 161 cr (up 63% YoY; up 18% QoQ) vs. our expectation of ~Rs 140 cr. Operating profit stood at Rs ~16 cr (up 13% YoY; flat on QoQ) with margin at 10%. Adj profit at Rs 9 cr (up 3% YoY; down 4% QoQ). Production volume has gone up by 42% YoY at 9,727 mt during the quarter with actual utilization levels over 85%.
Operating margins: decreased by 446 bps YoY at 10% on account of one time expenditure on branding activities primarily in south coupled with various sales promotional schemes across country. Management commented that these would be normalized going forward.
Notional loss: due to steep rupee depreciation during last qtr company incurred an unrealized loss of Rs 3.6 cr and Rs 11.6 cr for 9M FY12 on the outstanding ECB & FCNR loans which would have an impact on P/L account and would be provided by the company at the end of FY12. We have already discounted this in our valuations.
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