Saturday, May 29, 2010

ASIAN PAINTS - FY10 RESULTS - EXCELLENT PERFORMANCE



ASIAN PAINTS
FY10 VS FY 09 RESULTS
COMPARISON

CONSOLIDATED RESULTS

Asian Paints has produced excellent results in FY 10 compared to FY09.
Net Sales  has improved by 22.29 % to Rs.6681 Crores from Rs.5463 Cr YOY.
Total Expenditure has increased less than proportionately by 13.74% to Rs.5537 Cr from Rs.4868 Cr YOY.
Consolidated Net Profit      has increased by 110.04% to Rs.836 Crores from Rs.398 Crores YOY.
The consolidated Basic EPS(Rs.) has leapt by 109.08% to Rs.87 from last year’s Rs.41.61 on a face value of Rs.10/-.
The Company's new paint plant at Rohtak in the State of Haryana has commenced commercial production, on 12-4-2010. The plant has an initial capacity of 150,000 KL per annum and can be scaled to 4,00,000 KL per annum in future expansions.
The paid up equity is Rs.96 crores while the reserves are Rs.1614 Crores. Considering all the above factors, Next year, the company may cross an EPS of Rs.100 easily. In which case, it could also be a Potential bonus candidate next year.
This is an excellent performance by Asian Paints.
On the market price of Rs.2097, the PE Ratio works out to 24.1.

ASIANPAINTS CONSOLIDATED
FY10(lakhs)
FY09(lakhs)
Diff%Age
Net Sales
668094
546323
22.29
Other Oprtg Income
-
-

Stock in trade and WIP
-10180
1269
-902.21
Raw Materials
372174
325183
14.45
Traded goods
13802
10612
30.06
Employees Cost
43628
37152
17.43
Depreciation
8356
7438
12.34
Other Expenditure
125930
105167
19.74
Total Expenditure
553710
486821
13.74
Profit-Operations
114384
59502
92.24
Other Income
14050
5168
171.87
Interest
2847
2632
8.17
Exceptional items
-115
227
-150.66
Tax Expense
37311
19739
89.02
Extraordinary Items
-
124

Net Profit
88391
41948
110.72
Minority Interest
4827
2164
123.06
Consolidated Net Profit
83564
39784
110.04
Dividend (%)
-
-

Face Value (in Rs.)
10
10
0
Paid-up Equity
9592
9592
0
Reserves
161406
110725
45.77
Basic EPS(Rs.)
87
41.61
109.08
Diluted EPS(Rs.)
87
41.61
109.08




STAND ALONE RESULTS

The stand alone results are also impressive.
Net Sales   have improved by 20.02 % to Rs.5125 Crores, YOY.
Total Expenditure has increased less than proportionately by 10.89 percent to Rs.4176 crores from Rs.3766 Crores YOY.
Basic EPS before Extraordinary items has increased to Rs.78.09   from Rs.38.39 of last year – i.e., by 103.41% YOY.
The stand alone results are also quite impressive.

FY10(lakhs)
Diff%age
Net Sales
512508
427005
20.02
Other Oprtg Income
-
-

Stock in trade and WIP
-10716
-1757
509.9
Raw Materials
285525
254842
12.04
Traded goods
9215
7608
21.12
Employees Cost
26084
23890
9.18
Depreciation
6074
5715
6.28
Other Expenditure
101414
86295
17.52
Total Expenditure
417596
376593
10.89
Profit -Operations
94912
50412
88.27
Other Income
14385
6006
139.51
Interest
1376
1040
32.31
Exceptional items
-2546
195
-1405.64
Tax Expense
33017
18357
79.86
Extraordinary Items
-
590

Net Profit
77450
36236
113.74
Dividend (%)
270
-

Face Value (in Rs.)
10
10
0
Paid-up Equity
9592
9592
0
Reserves
146130
99865
46.33
Basic EPS bef.Extra.items (Rs.)
78.09
38.39
103.41
Dil.EPS bef.Extra.items (Rs.)
78.09
38.39
103.41
Basic EPS aft.Extra.items (Rs.)
80.74
37.78
113.71
Diluted EPS aft.Extra.items (Rs.)
80.74
37.78
113.71


QUARTERLY RESULTS
The quarterly results also indicate that during all 4 quarters of FY10, there has been quantum jump in profitability compared to FY 09. With the commissioning of Rohtak factory in April’10, the profitability may jump further.

31-Mar-10
31-Dec-09
30-Sep-09
30-Jun-09
31-Mar-09
Net Sales
129609
127771
138646
116482
110007
Other Expenditure
27869
24367
27392
21783
21322
Total Expenditure
108373
103251
112405
93564
95714
Net Profit
17704
17869
25432
16445
9254
Dividend (%)
185
-
85
-
-
Face Value (In Rs
10
10
10
10
10
Paid Up Equity
9592
9592
9592
9592
9592
Basic EPS aft.Extra.items
18.46
18.63
26.51
17.14
9.65
Diluted EPS aft.Extra.
18.46
18.63
26.51
17.14
9.65
Basic EPS bef.Extra.
16.4
18.63
25.91
17.14
10.26
Diluted EPS bef.Extra.
16.4
18.63
25.91
17.14
10.26

ANNOUNCEMENTS TO
THE EXCHANGE

28-05-2010        Asian Paints Limited has informed the Exchange regarding a press release dated May 28, 2010, titled "Asian Paints Net Sales increases by 18.1% in Q4-FY10, Net Profit up by 91.3% for the Quarter". 

28-05-2010        Asian Paints Limited has informed the Exchange regarding the standalone Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 129609 lacs for quarter ending on 31-MAR-2010 against Rs. 110007 lacs for the quarter ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 17704 lacs for the quarter ending on 31-MAR-2010 against Rs. 9254 lacs for the quarter ending on 31-MAR-2009.         -

28-05-2010        Asian Paints Limited has informed the Exchange that the Board of Directors of the Company, at their meeting held on May 28, 2010, have recommended payment of final dividend of Rs.18.5 (Rupees Eighteen and Fifty Paise only) per equity share of the face value of Rs.10/- each for the financial year ended March 31, 2010. Together with the interim dividend of Rs.8.50 per equity share of the face value of Rs.10/- each approved by the Board on October 22, 2009, the total dividend aggregates to Rs.27/- (Rupees Twenty Seven only) per equity share of the value of Rs.10/- each for the financial year ended March 31, 2010.        -

28-05-2010        Asian Paints Limited has informed the Exchange regarding the consolidated Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 187677 lacs for quarter ending on 31-MAR-2010 against Rs. 142492 lacs for the quarter ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 19258 lacs for the quarter ending on 31-MAR-2010 against Rs. 10114 lacs for the quarter ending on 31-MAR-2009.         -

28-05-2010        Asian Paints Limited has informed the Exchange regarding the consolidated Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 668094 lacs for year ending on 31-MAR-2010 against Rs. 546323 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 83564 lacs for the year ending on 31-MAR-2010 against Rs. 39784 lacs for the year ending on 31-MAR-2009.   -

28-05-2010        Asian Paints Limited has informed the Exchange regarding the standalone Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 512508 lacs for year ending on 31-MAR-2010 against Rs. 427005 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 77450 lacs for the year ending on 31-MAR-2010 against Rs. 36236 lacs for the year ending on 31-MAR-2009.   -

20-05-2010        Asian Paints Limited has informed the Exchange regarding the announcement made by Berger International Limited (BIL), Singapore, which is listed on the Singapore Stock Exchange Limited. BIL is an indirect subsidiary of Asian paints Limited.

03-05-2010        Asian Paints Limited has informed the Exchange that Berger International Limited, Singapore (BIL), a subsidiary of Asian Paints (International) Limited, which is a wholly owned subsidiary of the company has completed the sale of its entire stake by BIL, in Berger Paints China Co. Ltd. Further, the Company has submitted to the Exchange a copy of the announcement made to the Singapore Stock Exchange by BIL.        C0-04-2010        Regulation 8A of SEBI (SAST) Regulations  


12-04-2010        Asian Paints Limited has informed the Exchange vide its letter dated April 12, 2010 that:"The Company's new paint plant at Rohtak in the State of Haryana has commenced commercial production, today after the formal inauguration. The plant has an initial capacity of 150,000 KL per annum and can be scaled to 4,00,000 KL per annum in future expansions. This state-of-the-art facility has been commissioned on schedule. The plant has been set up at a project cost of approximately Rs. 500 crores (for the initial 1.5 lakh per annum KL capacity, including land).This plant has been built to very exacting and contemporary Environment, Health and Safety standards".

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