Amtek India Limited = RESULTS FOR Q2 YE JUNE 2012.

Amtek India Limited

NSE Symbol        AMTEKINDIA

RESULTS FOR Q2 YE  JUNE 2012.

AMTEK INDIA LTD has performed reasonably well in the 2^nd quarter ending Dec,2011 (in Year ending June 2012).

Net Sales stands at Rs.461.02 cr in 2^nd Q/E Dec’11 (Current Qtr) – compared to Rs.436.57 Cr in Q/e Sep,2011 (Previous qtr), up by 5.6%;  and  Rs.327.23 Cr in Q/e Dec’2010 (Corresponding Qtr), up by 40.89%.

Raw Materials   cost stands at Rs.302.23 Cr in current Qtr – compared to Rs.285.95 Cr in previous qtr (Up by 5.69%) and Rs.213.62 Cr in corresponding Qtr (Up by 41.48%).

Total Expenditure stands at Rs.370.11 cr in current Qtr – compared to Rs.353.13 cr in previous qtr (Up by 4.81%) and Rs.274.31 cr in corresponding Qtr (Up by 34.92%). Expdr has grown but less than proportionately compared to Net sales.

Profit from Operations stands at Rs.90.91 cr in current Qtr – compared to Rs.83.44 Cr (Up by 8.95%) in previous qtr – and Rs.52.92 Cr (Up by 71.79%) in corresponding Qtr.

Other Income    stands at Rs.20.32 cr in current Qtr – compared to Rs.22.49 Cr (down by    -9.65%) in previous qtr and Rs.14.01 Cr (Up by 45.04%) in corresponding Qtr,

Interest    Expense stands at Rs.47.86 cr in current Qtr – compared to Rs.50.12 cr (down by -4.51%) in previous qtr; and Rs.24.27 cr (Up by 97.2%) in corresponding Qtr.

Profit  before tax stands at Rs.63.37 cr in current Qtr – compared to Rs.55.81 cr (Up by 13.55%) in previous Qtr; and Rs.42.66 cr ( Up by 48.55%) in corresponding Qtr.

Tax expense stands at Rs.21.03 cr in current Qtr – compared to Rs.15.63 cr (Up by 34.55%) in previous qtr ;  and Rs.12.28 cr (Up by 71.25%) in corresponding Qtr.

Extraordinary Items stands at Rs.8.99 cr in current Qtr – compared to Rs.5.56 Cr (Up by 61.69%) in corresponding Qtr.

Net Profit  stands at Rs.33.35 cr in current Qtr – compared to Rs.   40.18 cr (down by -17%) in previous qtr; and Rs.24.82 cr (Up by 34.37%) in corresponding Qtr.

Paid Up Equity has gone up to Rs.55.36 cr – from Rs.27.68 cr due to Bonus issue in the Ratio of 1 : 1.

Basic EPS  on enhanced equity stands at Rs.1.2 in current Qtr; Rs.1.45(Rs.2.9/2) in previous qtr; Rs.1.325(Rs.2.65/2) in Q/E June’11; Rs.1.335 (Rs.2.67/2) in Q/E March,11; Rs.0.895 (Rs.1.79/2) in corresponding  Qtr ending Dec’2010. Thus, AMTEK INDIA has performed quite well in current quarter, after issue of Bonus shares.

At the current Rate, the annualized EPS can be around Rs.5.2 on a Face Value of Rs.2.

Current Market price is Rs.99.35. 52 week high price was Rs.150.80 ; while 52 week low price was Rs.64.20.

The current Price Earning Ratio is around 19.1.

RESULTS TABLE

AMTEK INDIA	31-Dec-11	30-Sep-11	% Dif	30-Jun-11	31-Mar-11	31-Dec-10	% Dif
Net Sales	46102	43657	5.6	39810	36896	32723	40.89
Increase in SIT / WIP	-673	-514	30.93	-666	-407	-354	90.11
Raw Materials	30223	28595	5.69	26741	24048	21362	41.48
Employees Cost	1666	1633	2.02	1620	1544	1463	13.88
Depreciation	3325	3325	0	3307	3288	3010	10.47
Other Expenditure	2470	2274	8.62	2111	2163	1950	26.67
Total Expenditure	37011	35313	4.81	33113	30636	27431	34.92
Profit from Operations	9091	8344	8.95	6697	6260	5292	71.79
Other Income	2032	2249	-9.65	1786	1648	1401	45.04
Interest	4786	5012	-4.51	3325	2710	2427	97.2
Profit  before tax	6337	5581	13.55	5158	5198	4266	48.55
Tax expense	2103	1563	34.55	1485	1496	1228	71.25
Extraordinary Items	899	-		-	-	556	61.69
Net Profit	3335	4018	-17	3673	3702	2482	34.37
Face Value (In Rs	2	2	0	2	2	2	0
Paid Up Equity	5536	2768	100	2768	2768	2768	100
Basic EPS	1.2	2.9	-58.6	2.65	2.67	1.79	-32.96
Public Holding (%)	38.36	38.36	0	38.36	43.35	49.22	-22.06

ANNOUNCEMENTS BY AMTEK

23-11-2011          Amtek India have allotted Bonus Shares to the existing shareholders of the Company in the proportion of 1:1 (i.e. One Bonus Equity Share of Rs.2/- (Rs. Two) each for every One existing fully paid Equity Share of Rs.2/- (Rs. Two) each held on record date i.e. November 22, 2011.  

14-11-2011          Amtek India have recommended a dividend to its equity shareholders @ 20% for the year 2010-11 i.e. Rs.0.40/- per equity share of Rs.2/- each.

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