Thursday, July 15, 2010

POLARIS SOFTWARE LAB = Q1 FY 2011 RESULTS = PREDICTS ANNUAL EPS OF OVER RS.20 = FY 11 PROMISING


POLARIS
SOFTWARE LAB LIMITED
Q1 FY11 RESULTS
COMPARISON

POLARIS SOFTWARE LAB LIMITED  has announced the results of the 1st Quarter of FY2010.These are analyzed below :
Net Sales   has increased by 5.4% to Rs.310 Cr in Q1 FY10 – compared to the preceding Quarter of Q4 FY10 of Rs.294 Cr – and by 14.4% compared to Rs.271 Cr of Q1 FY10. FY 2010 had Net Sales of Rs.1143 Cr (8.3%% increase in Q1 FY11 on annualized basis – by multiplying by 4).
Net Profit  has gone up by 10.1% to Rs.41 Cr – compared to Rs.37Cr in Q4 FY10 – and by 77.9% compared to Rs.23 Cr in Q1 FY10. On annualized basis (multiply by4), it is higher by 24.7% to Rs.131 Cr of FY 2010.
The Basic EPS for Q1 FY11 is Rs.4.11 compared to Rs.3.74 in Q4 FY10 and Rs.2.32 in Q1 FY10 and further compared to Annual EPS of Rs.13.23 for the FY 2010.The EPS has been consistently increasing quarter after quarter. Hence, FY 2011 Basic EPS is likely to be around 16-18 easily.
At current market price of Rs.194, the PE Ratio on the annualized EPS of Rs.16 comes to 12.12 – which leaves further scope for price appreciation during the year.
On consolidated basis –
On net sales of  Rs.361 Cr, Profit after tax  is Rs.46.6 Cr against Rs.31.83 cr in Q1 FY10 and Rs. 152.84 Cr in FY 2010
Earnings per share of Rs.5 each (Rs.) is Rs.4.71 against Rs.3.23 in preceding Qtr and Rs.15.48 in FY 2010. Polaris says – “Business Outlook : With the annualized EPS achievement of Rs. 18.8 at the end of first quarter, we are comfortable with the annual guidance of EPS growth of Rs. 20.2- 20.5 for the year 2010-11, as advised at the start of the financial year.”
Thus, on consolidated Basis - the PE ratio is even less - making it very attractive.


NON CONSOLIDATED FIGURES :

Jun-10
Mar-10
dif%1
Jun-09
dif%2
dif%3
Net Sales
30962
29364.83
5.4
27075.74
14.4
114347.7
8.3
Raw Materials
22244.7
19877.94
11.9
19069.29
16.7
78333.74
13.6
Other Expdr
-832.71
80.29
-1137
805.61
-203
2106.71
-258.1
Total Expdr
21412
19958.23
7.3
19874.9
7.7

Gross Profit
9549.98
9406.6
1.5
7200.84
32.6
33907.24
12.7
GenlAdmnExp
2736.98
2901.19
-5.7
2523.25
8.5
10861.64
0.8
Sell_DestribExp
2124.38
1893.3
12.2
1728.98
22.9
7171.12
18.5
Depreciation
579.93
619.76
-6.4
633.7
-8.5
2544.59
-8.8
OPTbefore Int.
4108.69
3992.35
2.9
2314.91
77.5
13329.89
23.3
Interest
5.58
13.11
-57.4
9.11
-38.7
47.42
-52.9
OPT.aft. I&EI
4103.11
3979.24
3.1
2305.8
77.9
13282.47
23.6
Other Income
613.8
435.98
40.8
434.82
41.2
1728.35
42.1
P B T
4716.91
4415.22
6.8
2740.62
72.1
15010.82
25.7
Tax Expenses
645.69
717.53
-10
451.5
43
1946.5
32.7
P A T
4071.22
3697.69
10.1
2289.12
77.9
13064.32
24.7
Net Profit
4071.22
3697.69
10.1
2289.12
77.9
13064.32
24.7
Face Value.Rs
5
5
0
5
0
5
300
Paid-up Equity
4951.27
4948.06
0.1
4933.81
0.4
4948.06
300.3
Reserves
77386.5
73060.37
5.9
66449.14
16.5
73060.37
323.7
Dividend (%)
-
35

-

35
Basic EPS Be.EI
4.11
3.74
9.9
2.32
77.2
13.23
24.3
Diluted EPS be.EI
4.08
3.7
10.3
2.32
75.9
13.11
24.5
Basic EPS aft.EI
4.11
3.74
9.9
2.32
77.2
13.23
24.3
Diluted EPS aft.EI
4.08
3.7
10.3
2.32
75.9
13.11
24.5
Public holding.%
70.94
70.92
0
70.84
0.1
70.92
300.1

ANNOUNCEMENTS
TO THE EXCHANGE

15-07-2010        Polaris Software Lab Limited has informed the Exchange regarding the press release dated July 15, 2010 titled "Intellect (TM) goes live in the US ... Polaris quarterly profit grows 46%".
15-07-2010        Polaris Software Lab Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-JUN-2010 as follows: Net Sales of Rs. 30962.01 lacs for quarter ending on 30-JUN-2010. Net Profit / (Loss) of Rs. 4071.22 lacs for the quarter ending on 30-JUN-2010. -
15-07-2010        Polaris Software Lab Limited has informed the Exchange regarding the consolidated Results for the quarter ended on 30-JUN-2010 as follows: Net Sales of Rs. 36056.5 lacs for quarter ending on 30-JUN-2010. Net Profit / (Loss) of Rs. 4660.09 lacs for the quarter ending on 30-JUN-2010.    -
24-06-2010        Polaris Software Lab Limited has informed the Exchange regarding a media release dated June 24, 2010, titled "Intellect wins the prestigious "Early Technology Adopter" Award at Acord Loma Forum 2010".
25-05-2010        Polaris Software Lab Limited has informed the Exchange regarding a press release dated May 25, 2010, titled "INTRODUCING INSURANCE CBX - ACCELERATING BUSINESS PROCESS RENOVATION THAT DRIVES EFFICIENCY AND GROWTH".


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