Tube Investments of India Limited
RESULTS OF FY 10 vs FY 09
(audited,cumulative,consolidated)
REVIEW
Tube investments ltd has performed well in FY10 compared to FY 09.
Net Sales has increased to Rs. 310118 lakhs in FY10, from Rs.280492 lakhs in FY 09.
Total Expenditure has also increased but much less than proportionately to Rs. 284375 lakhs in FY 10 from Rs. 263580 lakhs in FY 09- mainly under ‘other expenditure’.
Consolidated Net Profit has increased to Rs. 11226 lakhs in FY10 from Rs. 5261 lakhs in FY 09 – which is a huge increase of Rs.5965 lakhs – a 113.38 % increase over previous year.
The annual EPS has increased from 2.85 in FY 09 to 6.08 in FY 10 – which is a huge increase.
At current price of Rs.99.85, the P/E works out to 16.42.
The quarterly EPS for the 4th Qtr is 1.52 compared to 0.97 in previous quarter and -0.24 in corresponding quarter of last year.
Thus, the performance of Tube Investments in FY 10 is definitely creditable compared to FY 09.
Note : Readers may kindly offer their views, suggestions, criticism and corrections,if any, which will be gratefully taken note of.
OTHER HIGH LIGHTS :
The growth in automobile industry has aided the performance of the company well.
Over all all segments have done well.
According to L. Ramkumar, Managing Director, the company's focus this year was on improving operating efficiencies, using existing facilities better to service the increase in demand from its customers, new product offerings and superior customer service. The bicycles segment performed very well and grew in volume by 25 per cent and revenue by 31 per cent and improved its market share.
Results of Tube Investments
FY 10 vs FY 09
Description FY (Rs. in lakhs) : FY(Rs. in lakhs)
Net Sales : 310118 :280492
Other Operating Income: 7548 : 4671
Increase in SIT and WIP::-1054 ::-2287
Raw Materials ::137482 ::135152
Purchase of traded goods:: 6938 :: 4226
Employees Cost :: 26431 :: 23938
Depreciation :: 8852 :: 7969
Other Expenditure :: 105726 :: 94582
Total Expenditure :: 284375 :: 263580
Other Income :: 480 :: 1629
Interest :: 18528 :: 21231
Exceptional items :: -1380 :: -4167
Tax Expense :: 5335 :: 705
Net Profit :: 11288 :: 5443
Minority Interest :: 62 :: 182
Consolidated Net Profit :: 11226 :: 5261
Dividend per share Rs. 1.50- Rs.1.00-
Face Value (in Rs.) :: 2 :: 2
Paid-up Equity :: 3695 :: 3695
Reserves :: 76760 :: 65917
Basic EPS :: 6.08 :: 2.85
Diluted EPS :: 6.06 :: 2.85
Quarterly EPS ::
For last 5 Quarters : 03/10 ; 12/09; 09/09 ; 06/09; 03/09
Basic EPS :: 1.52 :: 0.97 :: 0.37 :: 1.54 :: -0.24
ANNOUNCEMENTS BY COMPANY TO THE EXCHANGE
03-05-2010 Tube Investments Of India Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on May 01, 2010 have recommended a dividend of Rs.1.50 (Rupees one and paise fifty only) per equity share of Rs.2 each for the financial year ended March 31, 2010. -
13-04-2010 Tube Investments Of India Ltd has informed the Exchange that pursuant to section 192A of the Companies Act, 1956, read with the Companies (Passing of the Resolution by Postal Ballot) Rules, 2001, that the following Special Resolution are proposed by way of Postal Ballot : 1) Approval under Section 372A of the Companies Act, 1956 by Special Resolution for the investment of Rs. 150 Crores in 1% Fully Convertible Cumulative Preference Share of Cholamandalam DBS Finance Ltd and 2) Approval under Section 372A of the companies Act, 1956 by Special Resolution for the investment of Rs. 25 Crores in the equity shares of Financiere C10, the Company subsidiary in France. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
13-04-2010 Tube Investments Of India Ltd has informed the Exchange that "There was a fire accident in the Company's bicycle plant at Ambattur, near Chennai, resulting in damage to one of the painting booths. Please note that the fire has been extinguished and the asset is insured. Please also note that there are no casualties. We do not expect the accident to have any significant impact on the operations of the bicycles plant."
09-04-2010 Tube Investments Of India Ltd vide its letter dated April 8, 2010 has informed the Exchange that:"The Company has today acquired 1,75,82,000 equity shares of Cholamandalam DBS Finance Ltd (CDFL) from DBS Bank Ltd, Singapore. Upon the above acquisition, the Company's holding in CDFL has increased from 30.93% to 57.41% of CDFL's equity capital. Consequently, CDFL has become a subsidiary of the Company." -
06-04-2010 Tube Investments Of India Ltd has informed the Exchange that "Credit Rating information Services of India ltd (CRISIL) has vide its letter dated April 5, 2010 downgraded the rating for the long-term bank loan facilities and non-convertible debenture programmes of the Company to "AA-/Stable" (Pronounced "Double A minus rating with Stable outlook) from "AA/ Stable" (Pronounced "Double A rating with Stable outlook")". -
15-02-2010 Tube Investments Of India Ltd has informed the Exchange that the Company has entered into a Share Purchase Agreement (SPA) for acquisition of Sedis SAS, France through acquisition of its holding company, Financiere C10. As per the SPA, the Company has acquired 77.13% shareholding of Financiere C10 in the first tranche, primarily from the institutional shareholders and the balance 22.87% held by the key management persons will be acquired in the second tranche on or before 31st March, 2013. Sedis SAS is a wholly owned subsidiary of Financiere C10 and is a pioneer in the manufacture of Industrial and Engineering Class Chains with two manufacturing plants in France. Financiere C10 also has two other distribution companies as wholly owned subsidiaries viz., S2CI in France and Sedis Co Ltd in UK. The consolidated turnover of Financiere C10 was Euro 37 M and the profit after tax was Euro 1.35 M in 2008. During the first nine months of calendar year 2009, the revenue was at Euro 21 M and the profit after tax was Euro 0.55 M. -
15-02-2010 Tube Investments Of India Ltd has informed the Exchange regarding a press release dated February 12, 2010 titled "Tube Investments of India acquires majority stake in Sedis, France". 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). For more details click here. -
01-02-2010 Tube Investments Of India Ltd has informed the Exchange regarding a press release dated January 30, 2010 titled "Tube Investments of India Ltd Q III Operating profit up 305 % & nine months operating profit up 169%". 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).
10-11-2009 Tube Investments Of India Ltd has informed the Exchange regarding a press release dated October 30, 2009 titled "TUBE INVESTMENTS OF INDIA LTD HALF YEAR OPERATING PROFIT UP 27%". 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). For more details click here. -
05-05-2009 Tube Investments Of India Ltd has informed the Exchange regarding the press release dated May 01, 2009, titled "Tube Investments reports higher Net Profit for 2008-09". 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). For more details click here. -
04-05-2009 Tube Investments Of India Ltd has informed the Exchange that the Board of Directors of Company met on May 01, 2009 and approved the following: (1) Recommended a dividend of Re.1 per equity share of Rs.2 each. (2) Decided to hold the Annual General Meeting of the Company on July 29, 2009. (3) Decided to close the share transfer books of the Company from July 17, 2009 to July 29, 2009 (both days inclusive) for the purpose of determining the members eligible to receive the dividend.
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