Wednesday, May 19, 2010
Amara Raja Batteries Limited - SALES UP -PROFIT DOUBLES IN FY10 - FUTURE GOOD
Amara Raja Batteries Limited
NSE Symbol AMARAJABAT
COMPARISON OF FY 10 WITH FY 09 RESULTS
Result Type ::Audited, Cumulative, Non-Consolidated
Net Sales has increased to Rs.1465 Cr from Rs. 1318 Cr YOY ( by Rs.147 cr or 11.15%)
Net Profit has increase more than proportionately to Rs. 167 Cr in FY 10 from Rs.80 Cr in FY 09 ( By 87 crores or 108.75%)
Dividend has therefore been increased from 40 % to 145% YOY.
Basic EPS has registered a smart rise to Rs.19.56 in FY 10 from Rs. 9.42 on a face value of Rs.2, which is quite a nice progress.
The quarterly results comparison indicates that Both sals and expenditure have increased much in Q4 but Net profit in Q4 is down slightly compared to preceding Quarter, but still comfortably higher compared to last year Q4.
While demand for its batteries from Industrial sector is stable, demand from Automotive sector is expanding fast. So, it plans to increase capacity soon.
Judging from the demand situation, Amara Raja can be expected to produce better result in FY 11.
At the current Market price of 166, the PE ratio is just8.49, which leaves room for price appreciation in the medium term.
RESULTS IN FIGURES
Description :: FY 10 (Rs. in lakhs) :: FY 09(Rs. in lakhs)
Net Sales :: 146520.96 :: 131772.3
Other Operating Income :: 215.04 :: 640.4
Increase/Decrease in SIT & WIP:: -3568.77 :: 1534
Raw Materials :: 91428.18 :: 84530.55
Purchase of traded goods:: 353.28 :: 850.86
Employees Cost :: 6237.04 :: 5161.34
Depreciation :: 4294.51 :: 3455.64
Other Expenditure :: 23337.83 :: 19733.9
Total Expenditure :: 122082.07 :: 115266.29
Other Income :; 280.36 :: 165.24
Interest :: 677.16 :: 1823.66
Exceptional items :: -1206.35 :: 3222.13
PBT :: 25463.48 :: 12265.86
Tax Expense :: 8760.15 :: 4217.99
Net Profit :: 16703.33 :: 8047.87
Dividend (%) :: 145 :: 40
Face Value (in Rs.) :: 2 :: 2
Paid-up Equity :: 1708.12 :: 1708.12
Reserves :: 52656.15 :: 38850.22
Basic EPS (in Rs.) :: 19.56 :: 9.42
Diluted EPS (in Rs.) :: 19.56 :: 9.42
QUARTERLY RESULTS COMPARISON
Q/E ::31-3-10 :: 31-12-09 :: 30-9-09 :: 30-6-09 :: 31-3-09
Net Sales:: 43247 :: 36685 :: 36063 :: 30638 :: 33024
Total Exp :: 38033 :: 30990 :: 28669 :: 24501:: 28311
Net Profit :: 3670 :: 3986 :: 4790 :: 4257 :: 2805
Basic EPS :: 4.3 :: 4.67 :: 5.61:: 4.98 :: 3.28
ANNOUNCEMENTS TO THE EXCHANGE
19-05-2010 Amara Raja Batteries Limited has informed the Exchange that the Register of Members and Share Transfer Books of the Company will remain closed from July 22, 2010 to July 29, 2010 (both days inclusive) for the purpose of ascertaining the members eligible to receive the dividend if declared at the annual general meeting scheduled to be held on July 29, 2010. Further the Company has fixed July 29, 2010 as the date on and from which the dividend on the equity shares of the Company, if declared at the ensuing annual general meeting, will be payable at par. -
19-05-2010 Amara Raja Batteries Limited has informed the Exchange regarding a press release dated May 19, 2010, titled "Amara Raja profit doubles in FY 2009-10. Amara Raja recommends a dividend of Rs. 2.90 per share on equity share of Rs. 2/- each for the year 2009-10".
19-05-2010 Amara Raja Batteries Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on May 19, 2010 have recommended a dividend of 145% i.e. Rs. 2.90 per share of Rs. 2/-, subject to approval of the shareholders of the Company.