Monday, May 2, 2011

SUBROS LTD = RESULTS = FOR Q4 AND FY 2011 = NPT UP IN Q4 FY 11 21.51% YoY



Subros Limited

NSE Symbol        SUBROS

SUBROS LIMITED  has performed reasonably in q4 FY 11.

Net Sales in Q4 FY 11 is at Rs.303.67 cr – up by 11.13% from Q3; Up by 9.16% from Q2; UP by 29.78% from Q1 FY 11; and UP by 21.75% from Q4 of FY 10.

Total Expenditure in Q4 FY 11 is Rs.287.47 cr – up by 9.26% from Q3; up by 6.6% from Q2; up by 29.32% from Q1; and up by 23.31% from Q4 of FY 10.

Profit from Operations in Q4 FY 11 is Rs.16.85 cr – up by 58.22% from Q3; up by 86.19% from Q2; Up by 40.89% from Q1 and up by just 1.69% from Q4 of FY 10. The more than proportionate increase in expenditure in Q4 FY 11 compared to Q4 FY 10 has resulted in lower growth in OPT.

Profit before tax  in Q4 FY 11 is : Rs.11.56 cr – up by 74.36% from Q3; up by 144.4% from Q2; Up by 40.29% from Q1; BUT DOWN BY 12.02% from Q4 FY 10. The higher interest burden in Q4 FY 11 has reduced the PBT considerably.

Net Profit is Rs.10.96 cr – up by    98.55% from Q3; Up by 125.05% from Q2; Up by 53.93% from Q1 FY 11; and UP BY  21.51% from Q4 FY 10. The improvement at this stage (of NPT) is due to the much lower (almost 1/7th) TAX EXPENSE in Q4 FY 11 compared to Q4 FY 10.

Basic EPS  for Q4 FY 11 is Rs.1.83; against Rs.0.92 in Q3; Rs.0.81 in Q2; Rs.0.19 in Q1; and Rs.1.5 in Q4 FY 10.

Thus, while sales has shown good improvement of 21.75% YoY in Q4 FY 11; the NPT has grown by 21.51% mainly due to LOWER TAX EXPENSES. Raw Material cost has grown considerably YoY. Hence, Q1 FY 12 results need watch.

RESULTS TABLE :

SUBROS
31-Mar-11
31-Dec-10
30-Sep-10
30-Jun-10
31-Mar-10
Net Sales
30367
27326
27819
23398
24943
 Raw Materials
22521
20793
21841
17223
17857
Employees Cost
1589
1724
1560
1540
1583
Depreciation
1084
1013
1016
949
984
Other Expenditure
3395
2925
2774
2432
2450
Total Expenditure
28747
26310
26966
22229
23312
Profit from Operations
1685
1065
905
1196
1657
Interest
541
402
432
372
343
Profit before tax
1156
663
473
824
1314
Tax expense
60
111
-14
112
412
Net Profit
1096
552
487
712
902
Face Value (In Rs
2
2
2
2
2
Paid Up Equity
1200
1200
1200
1200
1200
Basic EPS
1.83
0.92
0.81
1.19
1.5
Public holding (%)
59.99
59.99
59.99
59.99
59.99

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