Sunday, November 7, 2010

TUBE INVESTMENTS OF INDIA LIMITED = Q2 FY 2011(SEPT 2010) = RESULTS = EXCELLENT PERFORMANCE = EXCELLENT FUTURE PROSPECTS


TUBE INVESTMENTS OF INDIA LIMITED
Financial Results for
Quarter Ended 30th Sep 2010

STAND ALONE QTRLY RESULTS
Net Sales   ARE Rs.721 cr – up by 1.15% from previous qtr and up by 23.21% from corresponding qtr of last year.
Net Profit   is Rs.30.85 cr – down by 23.77% from previous qtr but up by a huge 353.68% from corresponding qtr.
Basic EPS is Rs.1.67     compared to Rs.2.19 in previous qtr and Rs.0.37 in corresponding qtr – on a Face value of Rs.2.
TUBE INVEST
30-Sep-10
30-Jun-10
DIF%1
30-Sep-09
DIF%2
Net Sales
72147
71329
1.15
58557
23.21
Other OpRTG Income
378
379
-0.26
290
30.34
 Raw Materials
43036
41732
3.12
33720
27.63
Purchase of Traded Goods
3253
3403
-4.41
938
246.8
Employees Cost
5796
5908
-1.9
4710
23.06
Depreciation
1649
1641
0.49
1620
1.79
Other Expenditure
14861
14145
5.06
11894
24.95
Total Expend
65830
65129
1.08
54114
21.65
Profit from Operations
6695
6579
1.76
4733
41.45
Other Income
-167
583
-128.64
75
-322.67
Interest
1497
1399
7.01
685
118.54
P B T
5031
5763
-12.7
1102
356.53
Tax expense
1946
1716
13.4
422
361.14
P A T
3085
4047
-23.77
680
353.68
Net Profit
3085
4047
-23.77
680
353.68
Face Value .Rs
2
2
0
2
0
Paid Up Equity
3703
3697
0.16
3595
3
Basic EPS
1.67
2.19
-23.74
0.37
351.35
Diluted EPS
1.65
2.18
-24.31
0.37
345.95
Public holding (%)
45.29
44.63
1.48
40.91
10.71
CONSOLIDATED QTRLY RESULTS
Net Sales   AT Rs.1181.68 cr is up by 58.14% on corresponding qtr (Rs.747.26 Cr).
Consolidated NPT is Rs.51.26 cr – up from Rs.29.25 Cr by 75.25%.
Basic EPS   is Rs.2.77 compared to Rs.1.58 in corresponding qtr – up by 75.32%.
TUBE INVEST- CONSOL
QE 0910(lakhs)
QE0909
DIF%1
Net Sales
118168
74726
58.14
Other Optg Income
3473
1950
78.1
SIT & WIP
-2828
1232
-329.55
Raw Materials
46081
33720
36.66
Traded goods
2986
938
218.34
Employees Cost
11239
7196
56.18
Depreciation
2225
2127
4.61
Other Expenditure
49682
24138
105.82
Total Expenditure
109385
69351
57.73
Profit from Operati.
12256
7325
67.32
Other Income
-980
79
-1340.51
Interest
1532
4273
-64.15
Excepti. items
-30
182
-116.48
P B T
9774
2949
231.43
Tax Expense
3605
146
2369.18
Net Profit
6169
2803
120.09
Minority Interest
1043
-122
-954.92
Consolidated NPT
5126
2925
75.25
Face Value (Rs.)
2
2
0
Paid-up Equity
3703
3695
0.22
Basic EPS
2.77
1.58
75.32
Diluted EPS
2.75
1.58
74.05
Public Shareholding (%)
45.29
40.91
10.71

Mr. L. Ramkumar, Managing Director said, “Higher sales in the Engineering and Metal Formed segments on the back of a strong growth in the auto sector and a steady growth in the bicycles business enabled the Company report better results”.
The Cycles division’s sales to trade registered a growth of 12% in volume terms. The range of premium bikes introduced earlier is gaining acceptance. Share of revenue from the exclusive outlets and other retail formats contributed one fourth of the total revenue for this business. The division also embarked on a rural retailing format and 8 stores were opened under this format.
In the tubes business, the overall volumes improved by 18% while that of the Cold Drawn Welded tubes grew by 22%. Tubular components continued to perform well and recorded a 36% growth. The division continues to maintain its focus on improving operating efficiencies to maintain its profitability.
Riding on the continued auto industry growth, the Metal Formed Products business performed well with the sale of car doorframe business registering a 33% growth and automotive chains registering a growth of 23%. Export of chains was also significantly higher at 60% with a pickup in demand from the Latin American and European markets. The rapid growth in demand could not be serviced fully due to capacity constraints. The expansion in capacity is expected to be completed shortly and should help improve the performance in the coming quarters. Sale of sections for manufacture of wagons declined by 40% during the quarter due to the delay in release of orders by the wagon  builders. Orders have since been received and volumes from this business would improve in the coming quarters.
CONSOLIDATED HALF YEARLY RESULTS
The consolidated Half yearly figures also indicate a good progress over corresponding period of last year as below :
Net Sales at Rs.2284.34 cr  compared to Rs.1455.39Cr in corresponding period of last year – up by 56.96%.
Consolidated N P T is Rs.97.39 cr compared to Rs.53.31 cr of corresponding period of last year - – up by 82.69%.
Basic EPS for the half year is Rs.5.26 compared to Rs.2.89 in corresponding period o last year – up by 82.01%
HYE 0910(lakhs)
DIF%
Net Sales
228434
145539
56.96
Other Optng Income
5545
3844
44.25
SIT & WIP
-4388
581
-855.25
Raw Materials
89080
65636
35.72
Traded goods
6389
2590
146.68
Employees Cost
21798
13781
58.17
Depreciation
4462
4117
8.38
Other Expend
97017
46298
109.55
Total Expendit
214358
133003
61.17
Profit from Operat.
19621
16380
19.79
Other Income
961
115
735.65
Interest
2964
9411
-68.5
P B T
17618
6835
157.76
Tax Expense
6215
1703
264.94
P A T
11403
5132
122.19
Net Profit
11403
5132
122.19
Minority Interest
1664
-199
-936.18
Consolidated N P T
9739
5331
82.69
Face Value (in Rs.)
2
2
0
Paid-up Equity
3703
3695
0.22
Basic EPS
5.26
2.89
82.01
Diluted EPS
5.22
2.88
81.25
Public holding (%)
45.29
40.91
10.71

Performance of Subsidiaries:
Cholamandalam MS General Insurance Company Ltd reported a Gross Written Premium of Rs 231 Crores, representing a growth of 25% over the same period last year. The PAT for the quarter was at Rs 5 Cr as compared to loss of Rs. 5 Cr. in the previous year.
Cholamandalam Investment & Finance Company Ltd reported revenue of Rs.282 Cr in Q2 against Rs. 198 Cr in Q2 of the previous year, representing a growth of 42%. The growth in revenue has come mainly through higher advances in the vehicle financing segment and other security based lending businesses. The PAT for the quarter was at Rs 26 Cr as compared to Rs. 8 Cr. in the previous year.
Financere C10, the industrial chain manufacturing subsidiary company in France, has reported a year to date turnover of 20.7 Million Euro as against Euro 20.2 M in the previous year despite the not so conducive business environment in Europe. Year to date PAT was at 0.370 Million Euro as compared to 0.551 Million Euro in the previous year.
While increase in steel price and higher interest rates could have some impact, a good monsoon, continued growth in the automotive sector and higher consumer demand, especially in the upcoming festive season, should help the company sustain the good performance in the coming quarters as well. 
About Tube Investments of India
Tube Investments of India consists of TI Cycles of India, Tube Products of India, TI Metal Forming (including Chains). In bicycles, TII is the second largest manufacturer with well-known brands - Hercules, BSA and Philips. TII is the market leader in precision steel tubes and roll-formed car doorframes in India. Also, being the second largest motor cycle chain manufacturer in India, TII is a major supplier to the Indian auto / auto- component industry. In the recent times, the Company has introduced E- Scooters.
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2 comments:

  1. SPARK ELECTRODES PVT. LTD. - Manufacturer and exporter of welded steel tubes, carbon steel tubes, G.i pipe, Ms pipe, pipe, galvanized steel pipe, black steel tubes, India.

    Welded steel tubes manufacturer

    ReplyDelete
  2. Your Blog information is so Good auto component companies india consists of TI Cycles of India, Tube Products of India, TI Metal Forming (including Chains).

    ReplyDelete