Thursday, May 27, 2010

SABERO ORGANICS LIMITED - FY10 IMPROVED OVER FY 09


Sabero Organics 
Gujarat Limited

Sabero Organics is a leader in crop protection and a leading producer and supplier of fungicides, herbicides and insecticides. With manufacturing facilities in India and marketing offices in India, Brazil, Europe, Australia and Argentina, Sabero supplies its products to over 1000 customers in 50 countries. Sabero is a publicly listed company, founded by the Chuganee Group, and is on a high growth path to double its sales over the next three years.

FY 10 VS FY 09
 RESULTS REVIEW


Sabero organics has declared improved results in FY 10 compared to FY 09. The results are reviewed below :
CONSOLIDATED RESULTS
Net Sales has increased to  Rs.430 Cr in FY 10 compared to Rs.377 Cr in FY 09, an increase of 14.04% YOY. On the other hand, total expenditure on consolidated basis has gone up by 7.16 %.
Consolidated Net Profit  has gone up much more than proportionately to Rs.38.53 Cr in FY 10 from Rs.20.44 Cr in FY 09, an increase of  88.51% YOY.
Consolidated Basic EPS  has gone up well to Rs.13.12 on a face value of Rs.10 in FY 10 from Rs.7 in FY 09, an increase of 87.43% YOY.

At the current Market price of Rs.68, the PE Ratio works out to just 5.18.

NON-CONSOLIDATED 
(STAND ALONE RESULTS)

Net Sales has increased by 17.36% to Rs.430 cr from Rs367 Cr YOY
Net Profit   has increased  to Rs.38.72 Cr from Rs.21.79 Cr YOY,( by 77.69%)
Stand Alone Basic EPS has gone up by 76.44% to Rs.13.18 in FY 10 from Rs.7.47 in FY 09 YOY.

QUARTERLY RESULTS

In all 4 quarters of FY 10, the sales have been above last year levels, and so is the EPS levels. FY 11 performance needs to be watched – for further improvement.


FY10(lakhs)
%age
Net Sales
43032
37734.86
14.04
Raw Materials
24968
25436.35
-1.84
Other Expenditure
7678
5703.83
34.61
Total Expenditure
35588
33208.79
7.16
OPT
7444
4526.07
64.47
Other Income
376
186.76
101.33
Interest
1705
1847.03
-7.69
Tax Expense
2237
823.85
171.53
Extraordinary Items
25
-
Net Profit
3853
2043.91
88.51
Consolidated NPT
3853
2043.91
88.51
Dividend (%)
-
-
Face Value (in Rs.)
10
10
0
Paid-up Equity
3380
2918.24
15.82
Reserves
8113
4349.84
86.51
Basic EPS
13.12
7
87.43
Diluted EPS
13.09
7
87


SABERO NON CONSOL
FY 10(lakhs)
FY 09(lakhs)
%AGE
Net Sales
43032
36666.08
17.36
Raw Materials
24968
24596.24
1.51
Total Expenditure
35564
32104.92
10.77
Other Income
371
153.81
141.21
Interest
1705
1714.11
-0.53
Exceptional items
-
-1.96
P B T
6134
3002.82
104.27
Tax Expense
2237
823.79
171.55
P A T
3897
2179.03
78.84
Extraordinary Items
25
-
Net Profit
3872
2179.03
77.69
Dividend (%)
12
-
Face Value (in Rs.)
10
10
0
Paid-up Equity
3380
2918.24
15.82
Reserves
8122
4367.87
85.95
Basic EPS ( Rs.)
13.18
7.47
76.44
Diluted EPS(Rs.)
13.15
7.47
76.04


Q4 FY10
Q3 FY10
Q4 FY09
Net Sales
9657
10941
9923.75
 Raw Materials
5303
6254
7339.89
Other Expenditure
2427
1822
1694.64
Total Expenditure
8361
8790
8847.92
Tax expense
508
660
436.73
Net Profit
713
1025
213.83
Dividend (%)
12
-
-
Face Value (In Rs
10
10
10
Paid Up Equity
3380
2926
2918.24
Basic EPS before Extr. items
2.5
3.51
0.73
Dil. EPS before Extr. items
2.49
3.03
0.73

ANNOUNCEMENTS TO THE EXCHANGE

27-05-2010        Sabero Organics Gujarat Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on May 27, 2010 have recommended Dividend @ 12% equivalent to Rs. 1.20/- per share on the Paid up Equity Share Capital of the Company for the year ended March 31, 2010 subject to approval of the shareholders at the forthcoming Annual General Meeting.    -
17-05-2010        Sabero Organics Gujarat Limited has informed the Exchange about the acquisition of 56972 Equity Shares of the Company by Karville Company Limited.
26-04-2010        Sabero Organics Gujarat Limited has informed the Exchange that the Board of Directors of the Company at their meeting held on April 26, 2010, have inter alia, transacted following matters :- (1) Approved allotment of 56972 Equity Shares to Karville Company Limited on exercise of right attached to the Optionally Fully Convertible Warrants allotted to them by the Company; (2) Approved Resignation of Mr. Khozem S. Poonawala as Company Secretary and Compliance Officer of the Company with effect from May 01, 2010; (3) Approved Appointment of Ms. Pritam P. Vartak as Company Secretary and Compliance Officer of the Company with effect from May 01, 2010.

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