Friday, July 30, 2010

ABB LTD = Q2 /E JUNE 2010 RESULT = LACK LUTRE = OPEN OFFER BY PARENT



ABB LIMITED
Q/E 30TH, JUNE,2010 (Q 2) RESULTS
COMPARISON

ABB LIMITED has declared lack lustre results for q/e June 2010. The results are compared below with previous qtr (Q1 FY10 ending march 2010), corresponding Qtr ( Q 2 FY 09 ending June 2009) and the previous year Jan-Dec 2009.
Net Sales       at Rs.1446.60 Cr is down by 0.6% from previous Qtr        , down by 3.9% from corresponding Qtr and  proportionately down by 7.2% from previous year.
Total Expenditure at Rs.1408.75 cr is down by 3.8% from previous qtr – up by 1.4% from corresponding Qtr – and down by 2.1% proportionately from previous year.
Profit from Operations        at 54.35 cr is – however by 430.8% from previous qtr (Rs 10.24Cr) -  but down by 56.7% from corresponding qtr (Rs.125.42Cr) – and proportionately down by 59.3% from previous year.(Rs.534.45 Cr).
Net Profit at Rs.38.32 Cr is however up by 477.1% from previous qtr (Rs.663.93 Cr)  - but down by 54.2% from corresponding Qtr (83.61 Cr) – and proportionately down by 56.8% from previous year (Rs.354.64 Cr).
Basic EPS is Rs.1.81 against Rs.0.31 in previous qtr ( up by +483.9%) – down by 54.2% from Rs.3.95 in corresponding qtr – and proportionately down by 56.8% compared  to Rs.16.74 of previous year.

Thus, the sales are coming down in QOQ. Likewise, compared to corresponding quarter, the results are a huge climb down. But, there is a smart increase in Profits compared to previous qtr.
Current MP is Rs.813.
Last 2 quarters EPS is Rs.1.81 + 0.31 = 2.12. It is far away from last year’s EPS of Rs.16.74 – on the face value of Rs.2.
Note : Open Offer ("Open Offer") by ABB Asea Brown Boveri Ltd. ("Acquirer") and ABB Ltd ("PAC") to the equity shareholders of ABB Limited ("Target Company") to acquire upto 48,510,997 equity shares representing 22.89% of the total paid up equity share capital of ABB Limited – see announcement by company to the NSE.
Swiss engineering company ABB Ltd (ABB) on Tuesday said its open offer to increase the stake in its Indian subsidiary to 75% from 52.11% has been successful. -The share purchase is aimed at facilitating the long-term development of ABB's business in India. -A post-offer public announcement, in accordance with local requirements, with details of the shares tendered in the open offer will be published once the acquisition of shares has been completed. -The open offer is being managed by HSBC Securities and Capital Markets (India) Private Limited.

RESULTS IN FIGURES :

Q2 Apr - Jun 10
Q1 Jan-Mar 10
Dif%1
Jun-09
dif%2
dif%3
Net Sales
144660
145585.2
-0.6
150501
-3.9
623730.1
-7.2
Other Optg Income
1649.74
1939.06
-14.9
983.73
67.7
5424.03
21.7
SIT&WIP
645.58
1063.05
-39.3
1416.54
-54.4
-4348.3
-159.4
Raw Materials
98523.1
97697.56
0.8
98695.6
-0.2
421641.8
-6.5
Traded Goods
4737.52
9133.22
-48.1
6476.71
-26.9
34493.78
-45.1
Employees Cost
12296.2
11737.8
4.8
10851.86
13.3
38866.47
26.5
Depreciation
1219.62
1203.84
1.3
1248.22
-2.3
4850.58
0.6
Other Expdr
23452.7
25664.99
-8.6
20253.46
15.8
80204.37
17
Total Exp
140875
146500.5
-3.8
138942.4
1.4
575708.7
-2.1
Profit.Operations
5434.63
1023.77
430.8
12542.38
-56.7
53445.48
-59.3
Other Income5
546.34
185.85
194
1102.28
-50.4
1832.93
19.2
P B I & EI
5980.97
1209.62
394.5
13644.66
-56.2
55278.41
-56.7
Interest6
429.27
375.69
14.3
803.82
-46.6
2538.46
-32.4
P A I B B EI
5551.7
833.93
565.7
12840.84
-56.8
52739.95
-57.9
P B T
5551.7
833.93
565.7
12840.84
-56.8
52739.95
-57.9
Tax expense
1720
170
911.8
4480
-61.6
17276.04
-60.2
P A T
3831.7
663.93
477.1
8360.84
-54.2
35463.91
-56.8
Net Profit
3831.7
663.93
477.1
8360.84
-54.2
35463.91
-56.8
Dividend (%)
-
-

-

100
Face Value
2
2
0
2
0
2
300
Paid Up Equity
4238.17
4238.17
0
4238.17
0
4238.17
300
Reserves
-
-

-

-
Basic EPS A EI
1.81
0.31
483.9
3.95
-54.2
16.74
-56.8
Public holding%
47.89
47.89
0
47.9
0
47.89
300

ANNOUNCEMENTS
TO THE EXCHANGE

30-07-2010        Abb Limited has informed the Exchange regarding a press release dated July 30, 2010 , titled " ABB Limited, India announces its second quarter results for 2010".          Click Here
30-07-2010        ABB Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-JUN-2010 as follows: Net Sales of Rs. 144659.57 lacs for quarter ending on 30-JUN-2010 against Rs. 150501.04 lacs for the quarter ending on 30-JUN-2009. Net Profit / (Loss) of Rs. 3831.7 lacs for the quarter ending on 30-JUN-2010 against Rs. 8360.84 lacs for the quarter ending on 30-JUN-2009.        -
01-07-2010        HSBC Securities and Capital Markets (India) Private Limited has submitted to the Exchange a copy of the Corrigendum as it appeared in the Newspaper on June 30, 2010 with respect to the Open Offer ("Open Offer") by ABB Asea Brown Boveri Ltd. ("Acquirer") and ABB Ltd ("PAC") to the equity shareholders of ABB Limited ("Target Company") to acquire upto 48,510,997 equity shares representing 22.89% of the total paid up equity share capital of ABB Limited, pursuant to the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997.
17-05-2010        HSBC Securities & Capital Markets (India) Private Limited has informed the Exchange regarding Public Announcement ("PA") is being issued by HSBC Securities and Capital Markets (India) Private Limited ("HSCI" or the "Manager to the Offer") for and on behalf of ABB Asea Brown Boveri Ltd (Registered office : Affolternstrasse 44, CH-8050 Zurich, Switzerland) ("Acquirer") and ABB Ltd (Registered office : Affolternstrasse 44, CH-8050 Zurich, Switzerland) ("PAC"), to the shareholders of ABB Limited (Registered office : 2nd Floor, East Wing, Khanija Bhavan, 49, Race Course Road, Bengaluru-560 001) ("Target Company") pursuant to and in compliance with among others, Regulation 11 (1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto "(SEBI (SAST) Regulations or the "Regulations"). This offer is being made by the Acquirer along with the PAC to the public shareholders of the Target company to acquire up to 48,510,997 equity shares being 22.89% of the Voting Shares Capital of the Target Company as on August 11, 2010, being the date which is 15 days from the date of closure of the Offer, as required under Regulation 21 (5) of the SEBI (SAST) Regulations. This Offer is being made pursuant to Regulation 11 (1) of the SEBI (SAST) Regulations, at a price of Rs. 900 per fully paid up equity share, payable in cash in accordance with the SEBI (SAST) Regulations and subject to the terms and conditions mentioned . (Specified Date- June 4, 2010) (Date of opening of the Offer- July 8, 2010) (Date of closing of the Offer- July 27, 2010).
30-04-2010        ABB Limited has informed the Exchange regarding the standalone Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 145585.17 lacs for quarter ending on 31-MAR-2010 against Rs. 139314.22 lacs for the quarter ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 663.93 lacs for the quarter ending on 31-MAR-2010 against Rs. 7835.7 lacs for the quarter ending on 31-MAR-2009.         -
30-04-2010        Abb Limited has informed the Exchange regarding a press release dated April 30, 2010, titled "ABB Limited, India announces its first quarter results for 2010".

19-04-2010        Abb Limited has informed the Exchange regarding a press release dated April 19, 2010, titled "ABB wins Rs. 145 crore power orders for Indian rail network".
15-04-2010        Abb Limited has informed the Exchange regarding a press release dated April 14, 2010, titled "ABB wins Rs. 63 crore order in India to strengthen power grid".

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