Tuesday, February 14, 2012

Jaiprakash Associates Limited = QUARTERLY RESULTS = Q3 FY 2012 = Q/E DEC,2011 = NET SALES UP 13% YoY; NPT DOWN BY 12% YoY


Jaiprakash Associates Limited
NSE Symbol        JPASSOCIAT

JP ASSOCIATES has declared its Q3 FY 2012 results  for q/e Dec,2011.

Net Sales in Q3 FY 12 stands at Rs.3257.93 Cr ; up by  6.21% from Q2 FY 12 (previous Qtr); up by  3.68% from Q1 FY 12 (1st Qtr); and up by 12.59% from Q3 FY 11(Corresponding Qtr of previous Year).

Raw Materials  in Q3 FY 12 stands at Rs.2017.07 Cr; up by   23.51% from Q2 FY 12 (previous Qtr); up by  14.18% from Q1 FY 12 (1st Qtr); and up by 19.92% from Q3 FY 11(Corresponding Qtr of previous Year).

Employees Cost in Q3 FY 12 stands at Rs. 192.49 Cr; up by   4.26% from Q2 FY 12 (previous Qtr); up by  10.4% from Q1 FY 12 (1st Qtr); and up by   29.01% from Q3 FY 11(Corresponding Qtr of previous Year).

Depreciation in Q3 FY 12 stands at Rs.202.18 Cr; up by 14.81% from Q2 FY 12 (previous Qtr); up by 17.48% from Q1 FY 12 (1st Qtr); and up by 31.14% from Q3 FY 11(Corresponding Qtr of previous Year).

Other Expenditure in Q3 FY 12 stands at Rs.564.19 Cr; up by 13.4% from Q2 FY 12 (previous Qtr); up by  24.82% from Q1 FY 12 (1st Qtr); and up by 70.78% from Q3 FY 11(Corresponding Qtr of previous Year).

Total Expenditure in Q3 FY 12 stands at Rs.2691.61 Cr; up by     5.13% from Q2 FY 12 (previous Qtr); up by      4.44% from Q1 FY 12 (1st Qtr); and up by 19.24% from Q3 FY 11(Corresponding Qtr of previous Year).

Profit from Operations  in Q3 FY 12 stands at Rs. 613.78 Cr; up by 7.29%  from Q2 FY 12 (previous Qtr); up by      2.18% from Q1 FY 12 (1st Qtr); and down by      -11.23% from Q3 FY 11(Corresponding Qtr of previous Year).

Interest    in Q3 FY 12 stands at Rs.448.50 Cr; up by  10.77% from Q2 FY 12 (previous Qtr); up by 5.19% from Q1 FY 12 (1st Qtr); and up by   32.62% from Q3 FY 11(Corresponding Qtr of previous Year).

Profit before tax in Q3 FY 12 stands at Rs.287.32 Cr; up by         28.94% from Q2 FY 12 (previous Qtr); up by      60% from Q1 FY 12 (1st Qtr); and down by         -9.54% from Q3 FY 11(Corresponding Qtr of previous Year).

Net Profit in Q3 FY 12 stands at Rs.          204.95 Cr; up by   59.31% from Q2 FY 12 (previous Qtr); up by  91.47% from Q1 FY 12 (1st Qtr); and down by    -11.91% from Q3 FY 11(Corresponding Qtr of previous Year).

Face Value is Rs.2 and  Paid Up Equity    is Rs.425.29

Basic EPS is Rs.0.96 for Q3 FY 12; Rs.      0.61 fro Q2 FY 12; Rs.0.5 for Q1 FY 12;Rs.1.1 for Q3 FY 11.

Annual EPS is likely to be around Rs.3.(against Rs.3.67 last year).

Current Market price is Rs.81.70 while the  52 week High /  low prices are Rs.102.55 and Rs.50.35 respectively.

PE Ratio works out to Rs.27.23

Other Aspects:

While the Cement & cement Products segment has registered good sales improvement, in the qtr and in the 9 month period, over corresponding periods of last year, Construction and Power have lagged behind periods of last year.

Real Estate also has lagged behind  last year.

The company says that – EBITDA for the Qtr is higher by Rs.86.09 Cr (increase of 10%) over LY Q3; However, due to incidence of interest and Depreciation, PBT and PAT are LOWER. But, results are much better than preceding Qtr.

Performance for 9 M/E Dec, 2011

Net Sales for 9 m/e Dec,2011 is Rs.9467.71 cr (9061.16 Cr LY)

Profit from operations  for 9 m/e Dec, 2011 is Rs.1786.54 cr (1830.56 Cr LY)

Profit Before Tax for 9 m/e Dec, 2011 is Rs.689.74 Cr (Rs.1366.63 Cr LY).

Net Profit for 9 m/e Dec, 2011 is Rs.440.64 Cr ( Rs.864.16 Cr LY).

Basic EPS for 9 m/e Dec, 2011 is Rs.2.07 (Rs.2.14 LY)

RESULTS TABLE (In lakhs of Rs)
JP Associates
31-Dec-11
30-Sep-11
%dif1
30-Jun-11
%dif2
31-Dec-10
%dif3
Net Sales
325793
306745
6.21
314233
3.68
289371
12.59
Other Operating Income
4746
6496
-26.94
3552
33.61
5494
-13.61
Increase in SIT/WIP
-28432
6903
-511.9
1218
-2434.3
-5857
385.44
Raw Materials
201707
163308
23.51
176650
14.18
168208
19.92
Employees Cost
19249
18462
4.26
17435
10.4
14921
29.01
Depreciation
20218
17610
14.81
17210
17.48
15417
31.14
Other Expenditure
56419
49752
13.4
45202
24.82
33037
70.78
Total Expenditure
269161
256035
5.13
257715
4.44
225726
19.24
Profit from Operations
61378
57206
7.29
60070
2.18
69139
-11.23
Other Income
12047
5602
115.05
541
2126.8
390
2988.97
Interest
44850
40490
10.77
42636
5.19
33818
32.62
Profit before tax
28732
22284
28.94
17958
60
35711
-19.54
Tax expense
8237
9419
-12.55
7254
13.55
12445
-33.81
Net Profit
20495
12865
59.31
10704
91.47
23266
-11.91
Face Value (In Rs
2
2
0
2
0
2
0
Paid Up Equity
42529
42529
0
42529
0
42529
0
Basic EPS
0.96
0.61
57.38
0.5
92
1.1
-12.73
Diluted EPS
0.93
0.58
60.34
0.48
93.75
1.05
-11.43
Public Holding (%)
53.17
53.12
0.09
53.18
-0.02
54.04
-1.61

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