WIPRO
LIMITED
LIMITED
FY10 , FY09 & FY08
RESULTS
COMPARED
STAND ALONE RESULTS
Wipro Limited has performed excellently in FY10 compared to FY09 and FY08 on stand alone basis.
Net sales income has gone up to Rs.23178 Cr in FY10 compared to Rs.20987Cr(an increase of 10.4%) in FY09 and compared to Rs.17461Cr (an increase of 32.7%) in FY08.
Operating profit before interest was Rs.5177.50 Cr in FY10, compared to Rs.3705.10Cr, an increase of 39.7%, and compared to Rs.3228.20 Cr, an increase of 60.4%.
Interest expenditure is a negative Rs.(-)82.60 Cr in FY10, compared to Rs.641.30 Cr in FY09, a decrease of 112.9%YOY, and compared to Rs.116.80 Cr, a decrease of 170.7%.
Consequently - Operating Profit after interest has gone up to Rs.5260 Cr in FY10, compared to Rs.3064 Cr in FY09, an increase of 71.7% and Rs.3111 Cr in FY08 , an increase of 69.1%.
Net Profit in FY10 has gone up to Rs.4898 Cr compared to Rs.2974 Cr in FY09, an increase of 64.7% and compared to Rs.3063 Cr in FY08, an increase of 59.9%.Dividend has been enhanced to 300% from last year’s 200% on a face value of Rs.2.
The Basic EPS has gone up to Rs.33.61 from last year’s Rs.20.44 and its earlier Year’s (FY08) Rs.21.11. Reserves are a huge Rs.17397 Cr, against the Equity of Rs.293.60 Cr. Taking all the factors into account Wipro has decided to declare a bonus issue in the ratio of two bonus equity shares for every three existing equity shares.
The public holding is just 18.83%. As and when the 25% comes into effect, Wipro may have to divest the promoter group stake – or issue additional shares to the public.
The share is currently quoting at Rs.380. Thus, the PE ratio as of now, comes to 11.31 - 16.06.2010 being the record date for Bonus and dividend. The Bonus issue is yet to reflect in the Equity – though the current price reflects the same. Hence, at current prices, Wipro is still a valuable BUY for medium term investors.
RESULTS
IN FIGURES
FY10(lakhs) | Dif%1 | Dif%2 | |||
Net sales / services | 2317760 | 2098730 | 10.4 | 1746120 | 32.7 |
SIT & WIP | -11100 | 2010 | -652.2 | -2720 | 308.1 |
Raw Materials | 98920 | 173600 | -43 | 135340 | -26.9 |
Traded goods | 311280 | 162060 | 92.1 | 162610 | 91.4 |
Other Expdr | 1090550 | 1090040 | 0 | 881550 | 23.7 |
Gross Profit | 828110 | 671020 | 23.4 | 569340 | 45.5 |
Genl.Admin | 114130 | 108840 | 4.9 | 86100 | 32.6 |
Selling&Distrib. | 138270 | 138300 | 0 | 114810 | 20.4 |
Depreciation | 57960 | 53370 | 8.6 | 45610 | 27.1 |
Op.Profit | 517750 | 370510 | 39.7 | 322820 | 60.4 |
Interest | -8260 | 64130 | -112.9 | 11680 | -170.7 |
OPT after I& EI | 526010 | 306380 | 71.7 | 311140 | 69.1 |
Other Income | 42870 | 48410 | -11.4 | 35830 | 19.6 |
P B T | 568880 | 354790 | 60.3 | 346970 | 64 |
Tax Expense | 79080 | 57410 | 37.7 | 40640 | 94.6 |
NPTafter tax | 489800 | 297380 | 64.7 | 306330 | 59.9 |
Net Profit | 489800 | 297380 | 64.7 | 306330 | 59.9 |
Dividend (%) | 300 | 200 | - | ||
Face Value (in Rs.) | 2 | 2 | 0 | 2 | 0 |
Paid-up Equity | 29360 | 29300 | 0.2 | 29230 | 0.4 |
Reserves | 1739680 | - | - | ||
Basic EPS | 33.61 | 20.44 | 64.4 | 21.11 | 59.2 |
Diluted EPS | 33.38 | 20.38 | 63.8 | 21.01 | 58.9 |
Basic EPS after EI | 33.61 | 20.44 | 64.4 | 21.11 | 59.2 |
Diluted EPS after EI | 33.38 | 20.38 | 63.8 | 21.01 | 58.9 |
Public holding (%) | 18.83 | 19.06 | -1.2 | 18.96 | -0.7 |
QUARTERLY RESULTS
Quarterly results also present a satisfactory performance in Q4. Net sales has increased by 4% in Q4 compared to Q3 and by 16% compared to Q4 of FY09.
Net profit is more or less equal to Q3, but is up by 47% compared to Q4 of FY09. The position of EPS also is equal to Q3, but is up by 47% compared to Q4 of FY09. The overall performance of Wipro is quite good – in all respects.
In recent past, Wipro has bagged some good contracts like the ESIC project – and is understood to have emerged as lowest bidder in one of the largest e-governance projects worth Rs 2,000 crore for linking police records across the country.
As per a report -Wipro will be providing Legal Process Outsourcing (LPO) services for Microsoft’s Intellectual Property.
As per another report - Wipro Ltd and TV S have signed a 10-year ‘total outsourcing contract’ deal for TVS company’s IT infrastructure including operations and maintenance in about 82 locations for ten years. There are many such deals being bagged by Wipro. Forbes has termed Azim Premji as India’s Bill Gates and praised his philosophy in building many new initiatives.
All in all – the third largest Indian IT Major is a good addition to one’s Portfolio.
Mar-10 | Dec-09 | Sep-09 | Jun-09 | Mar-09 | Dif%1 | Dif%2 | |
Net Sales | 614100 | 589290 | 585780 | 528790 | 529890 | 4 | 16 |
SIT&WIP | -3650 | -7600 | 700 | -730 | 3360 | -52 | -209 |
Raw Materials | 32430 | 19150 | 26720 | 20620 | 32770 | 69 | -1 |
Traded Goods | 81780 | 86340 | 85410 | 57940 | 46370 | -5 | 76 |
Other Expdr | 289510 | 280140 | 261960 | 258940 | 271970 | 3 | 6 |
Total Expdr | 400070 | 378030 | 374790 | 336770 | 354470 | 6 | 13 |
Gross Profit | 214030 | 211260 | 210990 | 192020 | 175420 | 1 | 22 |
GenlAdmn. | 30080 | 27620 | 30960 | 25460 | 24620 | 9 | 22 |
Selling and Dist. | 37820 | 35860 | 33300 | 31270 | 33810 | 5 | 12 |
Depreciation3 | 14030 | 14510 | 15800 | 13640 | 14270 | -3 | -2 |
OPT bef. Int | 132100 | 133270 | 130930 | 121650 | 102720 | -1 | 29 |
Interest | -6210 | -1690 | 4300 | -4420 | 12970 | 267 | -148 |
OPT | 138310 | 134960 | 126630 | 126070 | 89750 | 2 | 54 |
Other Income | 12640 | 8570 | 12140 | 9550 | 9770 | 47 | 29 |
P B T | 150950 | 143530 | 138770 | 135620 | 99520 | 5 | 52 |
Tax Expenses | 27280 | 20410 | 15560 | 15830 | 15310 | 34 | 78 |
Net Profit | 123670 | 123120 | 123210 | 119790 | 84210 | 0 | 47 |
Face Value | 2 | 2 | 2 | 2 | 2 | 0 | 0 |
Paid-up Equity | 29360 | 29350 | 29330 | 29310 | 29300 | 0 | 0 |
Dividend (%) | 300 | - | - | - | 200 | 50 | |
Basic EPS | 8.48 | 8.45 | 8.46 | 8.23 | 5.78 | 0 | 47 |
Diluted EPS | 8.43 | 8.39 | 8.41 | 8.19 | 5.77 | 0 | 46 |
ANNOUNCEMENTS
TO THE EXCHANGE
29-06-2010 Wipro Limited has informed the Exchange that the Board of Directors vide circular resolution passed on June 17, 2010 have fixed the Book Closure date from July 19, 2010 to July 22, 2010 (both days inclusive) for the purpose of Annual General Meeting scheduled to be held on July 22, 2010.
18-06-2010 Wipro Limited has informed the Exchange that Administrative Committee of the Board of Directors vide Circular resolution dated June 17, 2010 resolved to issue and allot 979765124 equity shares of Rs.2/- each for issue and allotment of bonus shares and issuance of share certificates/ credit in demat account in the ratio of 2:3 (two bonus equity shares for every three existing equity shares). -
07-06-2010 Wipro Limited has informed the Exchange that the Board of Directors of the Company have vide circular resolution passed on June 04, 2010 resolved to fix June 16, 2010 as the Record Date for issue of bonus shares in the ratio of 2:3 (two new shares for three existing equity shares) and also to determine eligible shareholders who are entitled to receive Final Dividend subject to the approval of the shareholders at the Annual General Meeting scheduled to be held in July 2010. -
07-06-2010 Wipro Limited has informed the Exchange has submitted to the Exchange a copy of the Scrutinizer's Report certifying the results on the following three Resolutions passed through Postal Ballot pursuant to Section 192A(2) of the Companies Act, 1956 read with the Companies (Passing of the Resolutions by Postal Ballot) Rules, 2001.1) Ordinary Resolution under Section 16 and 94 of the Companies Act, 1956 for increase in Authorised Share Capital and Alteration of Memorandum of Association of the Company (MOA) by altering Clause 5 of the MOA. 2) Special Resolution under Section 31 of the Companies Act, 1956 for Alteration of Article 4 and Article 152 of Articles of Association of the Company. 3) Ordinary resolution for issue of bonus share to the shareholders by capitalizing a part of the amount standing to the credit of Securities Premium Account.
31-05-2010 Wipro Limited has submitted to the Exchange a copy of Audited Consolidated Financial Results under International Financial Reporting Standards (IFRS) for the year ended March 31, 2010.
06-05-2010 Wipro Limited has informed the Exchange that pursuant to section 192A (2) of the Companies Act, 1956 read with the Companies (Passing of the resolutions by postal ballot) rules 2001. that the following resolution are proposed to be passed by postal ballot: 1) Ordinary Resolution under section 16 and 94 of the Companies Act, 1956 for increase of Authorised Share Capital and Alteration of the Memorandum of Association (MOA) of the Company by altering Clause 5 of the MOA. 2) Special Resolution under section 31 of the Companies Act, 1956 for alteration of Article 4 and Article 152 of Articles of Association of the Company. 3) Ordinary resolution for issue of bonus share to the shareholders by capitalizing a part of the amount standing to the credit of Securities Premium account.
23-04-2010 Wipro Limited has informed the Exchange that subject to the approval of the Members at an Annual General Meeting scheduled to be held on July 22, 2010, the Board of Directors of the Company at its meeting held on April 23, 2010 have recommended issue of bonus shares in the ratio of two (2) equity shares of Rs.2 each for every 3 (three) equity shares held by the shareholders of the Company (including ADS holders ), as on record date to be determined by the Board. -
23-04-2010 Wipro Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on April 23, 2010 have recommended a final dividend of (300%) at Rs. 6 per equity share of par value Rs. 2/- each. -
23-04-2010 Wipro Ltd has informed the Exchange regarding a press release dated April 23, 2010, titled "Results for the quarter and year ended March 31, 2010 under IFRS". 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. -
23-04-2010 Wipro Limited has informed the Exchange regarding the standalone Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 2317760 lacs for year ending on 31-MAR-2010 against Rs. 2098730 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 489800 lacs for the year ending on 31-MAR-2010 against Rs. 297380 lacs for the year ending on 31-MAR-2009. -
23-04-2010 Wipro Limited has informed the Exchange regarding the standalone Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 614100 lacs for quarter ending on 31-MAR-2010 against Rs. 589290 lacs for the quarter ending on 31-DEC-2009. Net Profit / (Loss) of Rs. 123670 lacs for the quarter ending on 31-MAR-2010 against Rs. 123120 lacs for the quarter ending on 31-DEC-2009. -
23-04-2010 Wipro Limited has informed the Exchange regarding the consolidated Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 698290 lacs for quarter ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 120910 lacs for the quarter ending on 31-MAR-2010. -
29-03-2010 Wipro Ltd has informed the Exchange that "Pursuant to filing of eform 21 on March 26, 2010 along with certified copies of orders of the High Court of Karnataka with the respective Offices of the Registrar of Companies, the Indian Branch offices of the two overseas subsidiary companies of Wipro Limited namely; Wipro Networks Pte Ltd, Singapore and WMNETSERV Ltd, Cyprus stands amalgamated with Wipro Limited. The merger comes into effect from the Appointed Date i.e. April 1, 2009".
* * * E N D * * *
No comments:
Post a Comment