Raymond Limited
NSE Symbol RAYMON
FY 2011 has been a good year for Raymond, which had incurred losses in the 2 previous years at the consolidated level.
Net Sales in FY 11 has increased to Rs.3035.91 from Rs.2507.83 cr in FY 10, (+ 21.06 %); and from Rs.2559.49 cr in FY 09, (+18.61%).
Total Expenditure in FY 11 has increased to Rs.2786.22 cr (+14.78%) from Rs.2427.45 cr in FY 10; and from Rs.2654.31 cr in FY 09 (+4.97%)
Profit from Operations in FY 11 is Rs.280.85 cr compared to Rs.113.52 cr (+147.8%) in FY 10 and Rs.(-)68.71 cr in FY 09 (+508.75%) – which indicate a significant increase over the two previous years.
But, Exceptional items expenditure has increased significantly to Rs.205.21 cr in FY 11; from just Rs.82.48 cr in FY 10; and Rs.113.55 cr in FY 09.
Therefore, Profit before tax is still marginally negative at Rs.(-)6.91 cr – compared to Rs(-)41.07 cr in FY 10; and Rs(-)251.76 cr in FY 09.
Tax Expense is Rs(-)44.34 cr in FY 11, (which has resulted in positive Net Profits) – against Rs.10.85 cr in FY 10; and Rs(-)20.44 cr in FY 09.
Net Profit for FY 11 is therefore Rs.37.43 cr – against Rs(-)51.92 cr in FY 10; and Rs(-)231.32 cr in FY 09.
Due to Negative share of Associates expenditure and Negative other related items of expenditure, the consolidated Net profit has further increased to Rs. 53.69 cr in FY 11; compared to Rs(-)46.03 cr in FY 10 and Rs.(-)228.36 cr in FY 09.
On a face Value of share of Rs.10, the Basic EPS in FY 11 is Rs.8.75; against Rs(-)7.5 in FY 10 and Rs.(-)37.2 in FY 09.
The Management’s perception, which is positive, is given below the table briefly. The profitability of Raymond needs to be watched in one or two more quarters.
| CS FY 11 | |||
| Net Sales | 303591 | 250783 | 255949 |
| Other Optng Income | 3116 | 3314 | 2611 |
| Increase in SIT /WIP | -10936 | 6177 | -1818 |
| Raw Materials | 91797 | 65004 | 67116 |
| Traded goods | 20624 | 15302 | 16384 |
| Employees Cost | 45573 | 42806 | 45062 |
| Depreciation | 16080 | 17654 | 16655 |
| Other Expenditure | 115484 | 95802 | 122032 |
| Total Expenditure | 278622 | 242745 | 265431 |
| Profit from Operations | 28085 | 11352 | -6871 |
| Other Income | 3720 | 4355 | 4134 |
| Profit before Int & EI | 31805 | 15707 | -2737 |
| Interest | 11975 | 11566 | 11084 |
| Profit after Int BB EI | 19830 | 4141 | -13821 |
| Exceptional items | 20521 | 8248 | 11355 |
| Profit before tax | -691 | -4107 | -25176 |
| Tax Expense | -4434 | 1085 | -2044 |
| Net Profit | 3743 | -5192 | -23132 |
| Minority Interest | 126 | 61 | 59 |
| Shares of Associates | -1234 | -671 | -354 |
| Other Related Items | -518 | 21 | -1 |
| Consolidated Net Profit | 5369 | -4603 | -22836 |
| Face Value (in Rs.) | 10 | 10 | 10 |
| Paid-up Equity | 6138 | 6138 | 6138 |
| Reserves | 115879 | 111449 | 113437 |
| Basic EPS | 8.75 | -7.5 | -37.2 |
| Public Shareholding (%) | 59.57 | 59.61 | 60.17 |
No comments:
Post a Comment