FY 2010 VS FY 2009
The current Market price is Rs.53.65. The P/E ratio works out to 4.59, which leaves a huge scope for appreciation.
A PTI report dated 27.04.2010 on Shree Renuka sugars on its 2nd q/e 31.03.2010 results says that - the company has reported a surge of nearly seven fold in its consolidated profit to Rs 224.2 crore for the 2nd quarter ended March 2010, as against Rs.33.2 cr for the 03 09 qtr last year. The company's full financial year ends in September.
The company's consolidated financial results include the unaudited results of all subsidiaries, (including the figures of Brazil- based Vale Do Ivai SA Acucar E Alcool (VDI), which has become subsidiary from March 19, 2010), Shree Renuka Sugars said in a filing to the Bombay Stock Exchange.
During the Qtr, Renuka's consolidated total income increased to Rs 1,806.9 crore from Rs 442.5 crore of the corresponding period a year ago.
On a standalone basis, the sugar producer posted a profit of Rs 195.9 crore for the quarter ended March 31, as compared to Rs 24.1 crore for the three-month period ended March, 2009. Thus, both its stand alone and consolidated results appear to be very good.
Based on the Results, Shree Renuka must merit the attention of the market once again.
As can be seen from the table below, the Face value of the share is Rs.1 . According to unaudited,consolidated, cumulative EPS for 6 months is 7.53. So, the annual EPS is likely to be around 15 on a FV of Rs.1, which is quite a good performance.
Even if sugar prices come down, the EPS will not fall below Rs.12 per share of Rs.1 FV.
At current price of 63-64, the P/E is hardly 5 and leavers good scope for further appreciation.
The comparative results are placed below :