Punj Lloyd
FY 10 vs FY 09
RESULTS
CONSOLIDATED RESULTS
Consolidated Net Sales has increased by 79.16 percent to Rs.10448 Crores from Rs.5832 Crores YOY.
Total Expenditure has increased more than proportionately by 94.3 percent to Rs.10547 Crores from Rs.5429 crores.
There is an exceptional item in current year of Rs.(-)322 Cr.
The Consolidated Net loss (profit has come down by 160.24 percent) is Rs.108.42 Crores in FY 10 against a profit of Rs.179.99 Crores last year.
Consequently, the consolidated Basic EPS is down to (-)3.37 from (+)5.78 last year.
At consolidated level, the results are therefore adverse this year, despite increase in sales.
FY 10(lakhs) | Diff%age | ||
Net Sales | 1044783 | 583157 | 79.16 |
Other OprtgIncome | 9096 | 1285 | 607.86 |
SIT & WIP | - | - | |
Raw Materials | 377010 | 200130 | 88.38 |
Traded goods | - | - | |
Employees Cost | 134518 | 63714 | 111.13 |
Depreciation | 22702 | 10550 | 115.18 |
Other Expdr | 520517 | 268456 | 93.89 |
Total Expenditure | 1054747 | 542850 | 94.3 |
Profit-Operations | -868 | 41592 | -102.09 |
Other Income | 1363 | 677 | 101.33 |
Interest | 30632 | 15393 | 99 |
Exceptional items | -32236 | - | |
Tax Expense | 13725 | 9231 | 48.68 |
Net Profit | -11626 | 17645 | -165.89 |
Minority Interest | 167 | -231 | -172.29 |
Shares of Associates | -951 | -123 | 673.17 |
Other Related Items | - | - | |
Consolidated NPT | -10842 | 17999 | -160.24 |
Dividend (%) | - | - | |
Face Value (in Rs.) | 2 | 2 | 0 |
Paid-up Equity | 6642 | 6636 | 0.09 |
Reserves | 295721 | - | |
Basic EPS | -3.37 | 5.78 | -158.3 |
Diluted EPS | -3.37 | 5.61 | -160.07 |
STAND ALONE
RESULTS
The stand alone Net Sales has increased by 3.32 percent to Rs.7117 Cr in FY 10 from Rs.6888 Cr last year.
But, total Expenditure has gone up more than proportionately by 9.55% to Rs.6865 Cr from Rs.6267 Cr YOY.
Helped by Exceptional items amounting to Rs.(-)311.09 Crores, the Net Profit has gone up by 14.42 percent to Rs.367.40 cr from last year’s Rs.321.10 Crores.
Consequently, the Basic EPS in FY 10 is Rs.11.42 compared to Rs.10.58in FY 09, on a face value of Rs.2.
Dividend (%) has come down to 7.5% from 15% YOY.
Performance on stand alone basis is also mediocre.
FY 10(lakhs) | Diff%age | ||
Net Sales | 711670 | 688795 | 3.32 |
Other OprtgIncome | 8636 | 5769 | 49.7 |
Raw Materials | 325324 | 238176 | 36.59 |
Employees Cost | 70462 | 57459 | 22.63 |
Depreciation | 13268 | 11948 | 11.05 |
Other Expenditure | 277457 | 319073 | -13.04 |
Total Expenditure | 686511 | 626656 | 9.55 |
Profit Operations | 33795 | 67908 | -50.23 |
Other Income | 2745 | 166 | 1553.61 |
Interest | 26380 | 19428 | 35.78 |
Exceptional items | -31109 | -832 | 3639.06 |
Tax Expense | 4529 | 17368 | -73.92 |
Net Profit | 36740 | 32110 | 14.42 |
Dividend (%) | 7.5 | 15 | -50 |
Face Value (in Rs.) | 2 | 2 | 0 |
Paid-up Equity | 6642 | 6070 | 9.42 |
Reserves | 350593 | 254326 | 37.85 |
Basic EPS(Rs.) | 11.42 | 10.58 | 7.94 |
Diluted EPS(Rs.) | 11.1 | 10.31 | 7.66 |
QUARTERLY RESULTS
The same trend is reflected in quarterly results.
Net Sales in Q4 is Rs.1214 Cr against Q3 sales of Rs. 2117 Cr - down by 42.64%. Compared to Q4 of FY 09, Q4 sales are down by 38.59%.
Total Expdr inQ4 compared to Q3 is - down by 22%, whereas the same is down by 20.3% compared to Q4 of FY 09.
Due to less than proportionate reduction in expenditure, the Net Profit in Q4 is Rs. 139.31 Cr, up from Rs.117.49 Cr in Q3 , an increase of 18.57%.But, compared to profit of Q4 of FY 09 of Rs.59.63 Cr, the Q4 of FY 10 profit is up by 133.62%.
Since Sales are down in all respects, the performance cannot be classified as good.
Exceptional Items7 -31109.00
Mar-10 | Dec-09 | Diff%age | Sep-09 | Jun-09 | Mar-09 | Diff% 2 | |
Net Sales | 121413 | 211660 | -42.64 | 185175 | 191817 | 197712 | -38.59 |
Total Expdr | 146883 | 188313 | -22 | 173324 | 176719 | 184294 | -20.3 |
Net Profit | 13931 | 11749 | 18.57 | 4188 | 6872 | 5963 | 133.62 |
Dividend (%) | 7.5 | - | - | - | 15 | -50 | |
Face Value | 2 | 2 | 0 | 2 | 2 | 2 | 0 |
Pd Up Equity | 6642 | 6641 | 0.02 | 6636 | 6070 | 6070 | 9.42 |
Basic EPS | 4.2 | 3.54 | 18.64 | 1.34 | 2.26 | 1.96 | 114.29 |
Diluted EPS | 4.08 | 3.44 | 18.6 | 1.31 | 2.21 | 1.91 | 113.61 |
ANNOUNCEMENTS
TO THE EXCHANGE
29-05-2010 Punj Lloyd Limited has informed the Exchange vide notes to Accounts in the audited results for the financial year ended March 31, 2010 (taken on record by the Board of Directors of the Company at its meeting held on May 28, 2010) that the auditors of the company in their report for the year ended March 31, 2010 have invited attention to deductions made/amount withheld by some customers aggregating to Rs. 5879 lacs and also work in progress inventory of Rs. 315 lacs. The Management is taking appropriate steps for recovery of these deductions/withheld amounts and believes that these amounts are fairly stated.
29-05-2010 Punj Lloyd Limited has informed the Exchange regarding the standalone Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 711670 lacs for year ending on 31-MAR-2010 against Rs. 688795 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 36740 lacs for the year ending on 31-MAR-2010 against Rs. 32110 lacs for the year ending on 31-MAR-2009.
29-05-2010 Punj Lloyd Limited has informed the Exchange regarding the standalone Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 121413 lacs for quarter ending on 31-MAR-2010 against Rs. 197712 lacs for the quarter ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 13931 lacs for the quarter ending on 31-MAR-2010 against Rs. 5963 lacs for the quarter ending on 31-MAR-2009. -
29-05-2010 Punj Lloyd Limited has informed the Exchange regarding the consolidated Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 1044783 lacs for year ending on 31-MAR-2010 against Rs. 1191203 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. (10842) lacs for the year ending on 31-MAR-2010 against Rs. (22528) lacs for the year ending on 31-MAR-2009. -
29-05-2010 Punj Lloyd Limited has informed the Exchange regarding the consolidated Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 170007 lacs for quarter ending on 31-MAR-2010 against Rs. 321726 lacs for the quarter ending on 31-MAR-2009. Net Profit / (Loss) of Rs. (30087) lacs for the quarter ending on 31-MAR-2010 against Rs. (25565) lacs for the quarter ending on 31-MAR-2009.
29-05-2010 Punj Lloyd Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on May 28, 2010 has recommended a dividend of Re.0.15 per share.
12-05-2010 Punj Lloyd Limited has informed the Exchange regarding a press release dated May 12, 2010 , titled "Punj Lloyd Consortium wins project worth Rs. 2056 crore in Abu Dhabi".
07-05-2010 Punj Lloyd Limited has informed the Exchange that FIL Capital Management (Mauritius) Limited ("FIL") and Fidelity India Principals ("FIP", together with FIL, the "Investor") have acquired a significant minority stake in PL Engineering Limited (the "Company"), a subsidiary of Punj Lloyd Limited ("PLL"). PLE is engaged in the business of providing basic and detailed engineering services and engineering design consultancy services for projects and product designs in the energy, building, water, chemicals, automotive and infrastructure sectors.
30-04-2010 Punj Lloyd Limited has informed the Exchange regarding a press release dated April 30, 2010, titled "Punj Lloyd secures Rs.115 crore order from Ministry of Health and Family Welfare". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
28-04-2010 Punj Lloyd Limited has informed the Exchange regarding a press release dated April 28, 2010, titled "Punj Lloyd bags Cuddalore refinery project from Nagarjuna Oil ". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
12-04-2010 Punj Lloyd Limited has informed the Exchange that the Committee of Directors has in its meeting held on April 08, 2010 allotted 6000 equity shares of Rs.2 each to the eligible employees under ESOP 2005 and 3450 equity shares of Rs.2 each to the eligible employees under ESOP 2006 of the Company.
07-04-2010 Punj Lloyd Limited has informed the Exchange regarding a press release dated April 07, 2010, titled "Punj Lloyd wins India's largest Solar-based EPC contract for rural India". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
06-04-2010 Punj Lloyd Limited has informed the Exchange regarding a press release dated April 06, 2010, titled "Punj Lloyd bags two Refinery Construction Projects". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
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