Monday, May 30, 2011

Pipavav Shipyard Limited = FY 11 vs FY 10 RESULTS = IMPROVING FAST


Pipavav Shipyard Limited

NSE Symbol        PIPAVAVYD

PIPAVAV SHIPYARD  has reported improved results for FY 2011.

Net Sales in FY 11 has been Rs.859.93 cr – an increase of 36.63% over FY 10.

Total Expenditure is Rs.750.06 cr in FY 11 – an increase of 12.22% over FY 10.
Profit from Operations has increased to Rs.117.56 cr in FY 11 – compared to a loss of  Rs.38.99 cr in FY 10.

Other Income in FY 11 is Rs.55.73 cr – compared to Rs.67.55 cr in FY 10.

Interest     expenditure has gone up to Rs.119.00 cr  in FY 11 – compared to Rs.73 cr in FY 10.

Tax Expense in FY 11 is Rs.10.59 cr – compared to Rs.1.63 cr in FY 10.

Net Profit  in FY 11 comes to Rs.43.69 cr compared to a loss of Rs.46.07 cr in FY 10.

The total FY 11 Basic EPS is Rs.0.66 compared to Rs(-)0.77 in FY 10.   The C-Basic EPS has been Rs.0.04 for Q3; Rs.(-).03 in Q2 and Rs(-)0.15 in Q1 FY 11. Thus, PIPAVAV  has registered its first annual positive consolidated EPS in FY 11.

RESULTS TABLE :

FY 11 CS
Net Sales
85993.08
62938.26
Other Operating Income
768.29
-
Increase in SIT / WIP
2235.06
11294.3
 Raw Materials
28283.2
16931.91
Traded goods
25758.8
9477.15
Employees Cost
2773.33
2197.76
Depreciation
5198.09
3773.62
Other Expenditure
10757.12
23162.38
Total Expenditure
75005.6
66837.12
Profit from Operations
11755.77
-3898.86
Other Income
5573.31
6754.79
Profit before Int & EI
17329.08
2855.93
Interest
11900.7
7300.02
Profit after Int BB EI
5428.38
-4444.09
Profit before tax
5428.38
-4444.09
Tax Expense
1059.25
162.53
Net Profit
4369.13
-4606.62
Face Value (in Rs.)
10
10
Paid-up Equity
66579.84
66579.84
Reserves
102501.56
103650.01
Basic EPS
0.66
-0.77
Public Shareholding (%)
55
60.44

ANNOUNCEMENTS TO NSE

24-03-2011        Pipavav Shipyard Limited received License to build Warships for Indian Navy. The Company has now informed that it has also received clearance from Foreign Investment Promotion Board (FIPB), Ministry of Finance, Government of India which permits foreign direct equity investment.The Company has obtained all statutory clearances required for warship building for defence sector. The clearance will help the Company to bid for all future warship projects like frigates, destroyers, aircraft carriers, LPDs, submarine, corvettes etc. of Indian Navy.      -

17-02-2011        Pipavav Shipyard Limited "MoU signed with Northrop Grumman Overseas Service Corporation,Delaware,USA".

23-12-2010        "Pipavav Shipyard Limited (the Company) has signed a Memorandum of Understanding (MOU) with SAAB Dynamics AB (SAAB), a part of Swedish multinational giant - Wallenberg Group".

09-12-2010        "Pipavav Shipyard Limited (the Company) has signed Protocol with M/s Rosoboron Export which is a Russian Government arm for Defence co-operation with foreign Governments.

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