IVRCL LTD = QUARTERLY RESULTS FOR Q3 FY 2012 = Q/E DEC,2011 = NET SALES DOWN 15.23%YoY; NPT DOWN 84% YoY = HUGE ORDER INTAKE

IVRCL Limited

NSE Symbol        IVRCLINFRA

IVRCL LTD has declared its  results for the third quarter ending Dec,2011.

Net Sales stands at Rs.1195.54 Cr – up by 14.29% from the previous Qtr (Q2FY12); up by 6.56% from first Qtr (Q1 FY 12); but down by -15.23% from the corresponding Qtr (Q3 FY 11).

Other Operating Income stands at Rs.7 Cr – up by 8218.91% from the previous Qtr (Q2FY12); up by 196.8% from first Qtr (Q1 FY 12); but down by -16.57% from the corresponding Qtr (Q3 FY 11).

Raw Materials consumption stands at Rs.415.58 Cr – up by 10.51% from the previous Qtr (Q2FY12); up by    0.53% from first Qtr (Q1 FY 12); but down by -21.96% from the corresponding Qtr (Q3 FY 11).

Other Expenditure  stands at Rs. 613.09 Cr – up by 19.83% from the previous Qtr (Q2FY12); up by 10.41% from first Qtr (Q1 FY 12); but down by -10.56% from the corresponding Qtr (Q3 FY 11).

Total Expenditure stands at Rs.1130.61 Cr – up by 15.68% from the previous Qtr (Q2FY12); up by 6.52% from first Qtr (Q1 FY 12); but down by -12.91% from the corresponding Qtr (Q3 FY 11).

Profit from Operations stands at Rs.71.93 Cr – up by 4.56% from the previous Qtr (Q2FY12); up by 14.5% from first Qtr (Q1 FY 12); but down by -40.32% from the corresponding Qtr (Q3 FY 11).

Interest Expense  stands at Rs.66.06 Cr – up by    1.26% from the previous Qtr (Q2FY12); up by  5.17% from first Qtr (Q1 FY 12); and up by     11.63% from the corresponding Qtr (Q3 FY 11).

Profit before tax stands at Rs.6.85 Cr – down by   -22.85% from the previous Qtr (Q2FY12); up by 40.44% from first Qtr (Q1 FY 12); but down by -89.03% from the corresponding Qtr (Q3 FY 11).

Net Profit stands at Rs.6.79 Cr – down by -16.62% from the previous Qtr (Q2FY12); up by     61.03% from first Qtr (Q1 FY 12); but down by        -83.95% from the corresponding Qtr (Q3 FY 11).

Face Value of the share is Rs.2; and Paid Up Equity      is Rs.53.40 Cr.

Basic EPS stands at Rs.0.26 in Q3 FY 12; Rs.0.3 in Q2 FY 12; Rs.0.16 in Q1 FY 12; and Rs.1.58 in Q3 FY 11.

The current Market Price is Rs.59.90, while the 52 week high price is Rs.98.55 and the 52 week low price  is Rs.27.05.

The annual EPS for current year could be Lower at Rs1.1 based on current trend. At this level, the PE Ratio works out to a HUGE 54.45

ORDER INTAKE

The work order intake is Rs.10677 cr for FY12 till date – against Rs14000 cr planned for full year. FY 11 intake full was Rs.8633 cr.

FY 12 target was fixed at 2.5 times of FY 11 turnover of Rs.5659 cr.

Apart from this, IVRCL has secured L1 (Lowest Bid) positions in tenders worth Rs.2032 Cr.

IVRCL has 2 listed subsidiary companies (1) IVRCL ASSETS & HOLDIGNS LTD and (2) HINDUSTAN DORR-OLIVER LTD (HDO).

RESULTS TABLE

IVRCL	31-Dec-11	30-Sep-11	%Dif1	30-Jun-11	%dif2	31-Dec-10	%dif3
Net Sales	119554.22	104603.25	14.29	112190.22	6.56	141040.54	-15.23
Other Operating Income	699.62	8.41	8218.9	235.72	196.8	838.55	-16.57
Raw Materials	41558.22	37606.47	10.51	41339.5	0.53	53251.72	-21.96
Traded Goods	1671.72	-		192.1	770.2	-
Employees Cost	6235.31	6467.21	-3.59	6809.12	-8.43	6036.76	3.29
Depreciation	2286.32	2497.02	-8.44	2276.87	0.42	1988.07	15
Other Expenditure	61309.29	51161.56	19.83	55526.27	10.41	68550.12	-10.56
Total Expenditure	113060.86	97732.26	15.68	106143.86	6.52	129826.67	-12.91
Profit from Operations	7192.98	6879.4	4.56	6282.08	14.5	12052.42	-40.32
Other Income	98.4	532.64	-81.53	487.46	-79.81	112.13	-12.24
Interest	6606.33	6524.15	1.26	6281.75	5.17	5918.03	11.63
Profit before tax	685.05	887.89	-22.85	487.79	40.44	6246.52	-89.03
Tax expense	6.49	74.11	-91.24	66.39	-90.22	2017.61	-99.68
Net Profit	678.56	813.78	-16.62	421.4	61.03	4228.91	-83.95
Face Value (In Rs	2	2	0	2	0	2	0
Paid Up Equity	5340.2	5340.2	0	5340.2	0	5340.2	0
Basic EPS	0.26	0.3	-13.33	0.16	62.5	1.58	-83.54
Public holding (%)	88.82	88.99	-0.19	90.48	-1.83	90.48	-1.83

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