Venky's (India) Limited
NSE Symbol VENKEYS
Venkey’s India Limited has declared very good results for the FY 2011 year.
These are compared with the FY 2010, which is compared here with FY 2009; which itself is again compared with FY 2008 – to assess the YoY progress under various critical growth parameters.
Net Sales has risen to Rs.852.01 cr in FY 11 – a growth of 20.77% over previous year of FY 2010; which itself had grown by 23.93% from FY 2009; which itself had grown over FY 2008 by 8.81%.
Total Expenditure has grown to Rs.748.44 cr - a growth of 20.07 over previous year of FY 2010; which itself had grown by 16.22% from FY 2009; which itself had grown by 12.24% over FY 2008. Most of the increased expenditure is under “Raw material” costs, and to some extent, Under “Other expenditure”.
Profit from Operations has grown to Rs.103.57 cr – a growth of 26.09% over FY 2010; which itself had shown a growth of 149.6% over FY 2009.
Profit before tax has grown to Rs.107.76 cr – a growth of 30.95% over FY 2010; which is a growth of 165.2% over its own previous year of FY 2009; which was lower by 25.8% from FY 2008.
Net Profit for FY 2011 is Rs.73.03 cr – a growth of 34.44% from FY 2010; which itself had a growth of 164.2% from FY 2009; which was down by 22.7% from FY 2008.
Dividend (%) is hiked to 50% in FY 2011; from 40% in FY 2010; 35% in FY 2009; and 35% in FY 2008.
Basic EPS has grown well to Rs.77.76 on a FV of Rs.10/- a growth of 34.46% over FY 2010; which itself was a growth of 164.3% from FY 2009; which was down by 22.8% from FY 2008.
Thus, Venky’s has been growing very well in all segments in the last 3 years.
Current Market price level is Rs.690. On a FY 11 EPS of Rs.78, this works out to a PE Ratio of 8.846. Based on its consistent upward performances, Venkey’s could be re-rated by the Market to a GOOD, higher price.
Its Paid-up Equity is Rs.9.39 cr in last 3 tears.
But, its reserves has swelled in FY 2012 to Rs.264.79 cr; The same was Just Rs.197.21 cr in FY 2010; which itself was Rs.147.68 cr in FY 2009; which itself was just Rs.130.97 cr in FY 2008.It is built up over a long period of time.
VENKEY’S INDIA is a good scrip for investment - for medium to long term investors.
RESULTS TABLE :
VENKY'S INDIA FY 11 FY 10 FY 09 :: FY 08
Net Sales 85201 70547 56926 52316
Raw Materials 49212 43213 36567 31468
Employees Cost 5659 4374 4099 3774
Depreciation 965 898 862 827
Other Expen 13599 10714 9570 8944
Total Expen 74844 62333 53635 47784
Profit from Operations 10357 8214 3291 -
Other Income 874 519 600 -
Interest 455 504 788 872 -
Profit before tax:10776 8229 3103 4182
Tax Expense 3473 2797 1047 1521
Net Profit 7303 5432 2056 2661
Dividend (%) 50 40 35 35
Face Value (in Rs.)10 10 10 10
Paid-up Equity 939 939 939 939
Reserves 26479 19721 14768 13097
Basic EPS 77.76 57.83 21.88 28.34
Public holding (%) 43.88 43.88 43.83 46.14
ANNOUNCEMENTS TO NSE
11-05-2011 the Board of Directors of the Company at its meeting held on May 11, 2011 has recommended a dividend of Rs.5/- per equity share (50%) for the year ended March 31, 2011 (previous year Rs.4.00 per equity share), subject to the approval of shareholders at ensuing general meeting.
27-04-2011 Spurt in Volume : Substantial increase in trading volumes has been observed in Venky's (India) Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. Venky's (India) Limited has vide its letter inter-alia stated, "The Company does not have any information/announcement (including pending announcement), which may have bearing on the price behavior in the scrip."
03-09-2010 Venky'S (India) has undertaken expansion programme, of estimated cost of Rs. 50 Crores in Poultry Products Segment.
25-05-2010 Venky'S (India) has recommended a dividend of Rs.4 per equity share (40%) for the year ended March 31, 2010 (previous year Rs.3.50 per equity share ), subject to the approval of shareholders at the ensuing Annual General Meeting.
08-10-2009 "Venky'S (India) Limited has become Subsidiary Company of Venkateshwara Hatcheries Private Limited, subsequent to purchase of shares by Venkateshwara Hatcheries Private Limited through the open market"
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