Saturday, January 14, 2012

CMC LTD =Q3FY 2012 RESULTS = Q/E DEC 2011 = SALES UP 45%YOY;


CMC Limited
NSE Symbol        CMC

CMC LTD  has declared good results for Q3 FY 2012 ending Dec,2011.

Net Sales stands at Rs.395.84 cr in Q3 FY 12 (Current Qtr) – compared to Rs.357.16 cr in Q2 FY 12,the previous qtr (Up by 10.83%); Rs.305.04 cr in Q1 FY 12; and Rs.272.64 in Q3 FY 11(Up by 45.19%) in corresponding Qtr. The last year (FY 2011) figure was Rs.1080.53 Cr. Thus, Net Sales has been increasing reasonably steadily.

Total Expenditure stands at Rs.341.64 Cr in current Qtr of Q3 FY 12 – compared to Rs.309.91 cr (Up by 10.24%) in previous qtr of Q2 FY 12; Rs.258.6Cr in Q1 FY 12;  Rs.224.97 cr in Q3 FY 11, the corresponding Qtr (up by 51.86%); The Figure for FY 2011 was Rs.884.16 Cr. Expenditure hs gone up more than proportionately.

Profit from Operations stands at Rs.54.53 cr in Q3 FY 12 (current Qtr); compared to Rs.47.79 cr (Up by 14.11%) in previous qtr; Rs.46.98 cr in Q1 FY 12; and Rs.49.13 cr in Q3 FY 11 (Up by 10.99%) the corresponding Qtr. The FY 2011 OPT was Rs.200.25 cr. OPT is moving up steadily.

Profit before tax stands at Rs.58.46 Cr in Q3 FY 12 (current Qtr); compared to Rs.       52.72 Cr (Up by 10.90%) in previous qtr of Q2 FY 12; Rs.49.56 Cr in Q1 FY 12; and Rs.53.31 cr (Up by 9.65%) in Q3 FY 11, the corresponding Qtr. The last year PBT was Rs.211.83 Cr.

Consolidated Net Profit stands at Rs.41.37 in Q3 FY 12 (Current Qtr) – compared to Rs.32.63 Cr (Up by a good 26.81%) in previous qtr; Rs.34.88 cr in Q1 FY 12; and Rs.45.37 cr in Q3 FY 11 (down by -8.81%) from corresponding qtr of Q3 FY 11. Last year NPT was Rs.179.41 Cr. The Q3 FY 11 C- NPT was much higher due to much lower Tax expense(at Rs.8 cr compared to Rs.17 Cr now).

Basic EPS(Rs.) stands at Rs.13.65 in Q3 FY 12; Rs.10.77 in Q2 FY 12; Rs.11.51 in Q1 FY 12; Rs.29.95 in Q3 FY 11.The annual EPS for FY 2011 was Rs.118.42.  Current annualized EPS for FY 2012 can be around Rs.50. We need to see if CMC matches or improves on last year annual EPS (118.42 / 2 = ) Rs.9.21 finally after 4th qtr.

Equity has gone up to Rs.30 cr from Rs.15 cr last year.

CMC has added 21 new clients in this quarter. Net addition of 1474 employees in this quarter.

The current MP is Rs.902. The 52 week high price is Rs.2790 and the 52 week low price is Rs.721.30.

The PE Ratio is therefore around 18.

RESULTS TABLE

Q3 FY 12
% DIF1
% DIF2
Net Sales
39584.23
35,716.18
10.83
30,503.98
27,264.24
45.19
108,053.15
Other Oprting Income
33.09
53.12
-37.71
54.08
145.41

387.28
Raw Materials
4867.24
4,452.82
9.31
3,732.71
3,334.52
45.97
12,139.01
Employees Cost
11765.34
10,815.05
8.79
9,580.11
8,899.40
32.20
34,512.60
Depreciation
582.27
540.71
7.69
372.75
273.17

1,045.96
Other Expenditure
16949.44
15,182.14
11.64
12,174.05
9,989.64
69.67
40,718.00
Total Expenditure
34164.29
30,990.72
10.24
25,859.62
22,496.73
51.86
88,415.57
Profit from Operations
5453.03
4,778.58
14.11
4,698.44
4,912.92
10.99
20,024.86
Other Income
392.97
493.33
-20.34
258
416.16
-5.57
1,169.71
Interest
0.1
0.37
-72.97
0.44
-2.16

11.8
Profit before tax
5845.9
5,271.54
10.90
4,956.00
5,331.24
9.65
21,182.77
Tax Expense
1708.53
2,008.92
-14.95
1,467.75
794.39

3,241.91
Net Profit
4137.37
3,262.62
26.81
3,488.25
4,536.85
-8.81
17,940.86
Consolidated NPT
4137.37
3,262.62
26.81
3,488.25
4,536.85
-8.81
17,940.86
Face Value (in Rs.)
10
10
0.00
10
10
0.00
10
Paid-up Equity
3030
3,030.00
0.00
3,030.00
1,515.00

1,515.00
Reserves
-
-

-
-

63,886.95
Basic EPS(Rs.)
13.65
10.77
26.74
11.51
29.95

118.42
Public holding (%)
48.88
48.88
0.00
48.88
48.88
0.00
48.88

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