MADRAS CEMENTS LIMITED - FIRST QUARTER RESULTS - Q1 FY 2012 - Net Sales Up 29.46% YoY; Net Profit Up 25.14% YoY;

MADRAS CEMENTS LIMITED

FIRST QUARTER RESULTS - Q1 FY 2012

MADRAS CEMENTS LIMITED has declared good results for the first quarter ending June,2012. The High Lights are as below :

Net Sales stands at Rs.989.28 Cr for Q1 FY 13;  Up by 8.49% from Q4 FY 12 (Rs.911.87 Cr); and up by 29.46% from Q1 FY 12 (Rs.764.18 Cr). The Sales are impressive.

Total Expenditure stands at Rs.760.69 Cr for Q1 FY 13;  down by -2.25% from Q4 FY 12 (Rs.778.22 Cr); and up by 30.26% from Q1 FY 12 (Rs.583.98 Cr).

Profit before Interest, Dep. & Taxes stands at Rs.228.59 Cr for Q1 FY 13;  Up by  71.04% from Q4 FY 12 (Rs.133.65 Cr); and up by 26.85% from Q1 FY 12 (Rs.180.20 Cr).

Net Profit stands at Rs.123.01 Cr for Q1 FY 13;  Up by 24.14% from Q4 FY 12 (Rs.99.09 Cr); and up by 25.14% from Q1 FY 12 (Rs.98.30 Cr). The Net Profit Growth in percentage terms is quite impressive – both QoQ and YoY.

Diluted EPS on a Face Value of Rs.1 - stand at Rs.5 for Q1 FY 13; Rs.4 for Q4 FY 12; and Rs.4 for Q1 FY 12. FY 12 total EPS was Rs.16. Thus EPS growth is very good. Madras Cements is one of the more efficient manufacturers of cement Industry. The annualized EPS could be around Rs.20.

52 week high/low price : 182.00/80.15; and Current MP is Rs.173.15. The PE Ratio comes to around 8.66

The Competition Commission of India has imposed a Penalty of Rs.258.63 Cr on the company – for alleged Cartelisation with select Cement Manufacturers. The company proposes to appeal against the Order – and hence no Provision is made for this amount.

ABOUT THE COMPANY :

Madras Cements Ltd is the flagship company of the Ramco Group, a well-known business group of South India. It is headquartered at Chennai. The main product of the company is Portland cement, manufactured in five state-of-the art production facilities spread over South India, with a current total production capacity of 13.0 MTPA. The company is the fifth largest cement producer in the country.  is the most popular cement brand in South India. The company also produces Ready Mix Concrete and Dry Mortar products, and operates one of the largest wind farms in the country.

RESULTS TABLE : 

The detailed Results table indicating Q1 FY 13; Q4 FY 12 and Q1 FY 12 Numbers and QoQ % dif; and YoY % dif – under various heads of revenue and expenditure etc - can be seen below :

Madras Cements (Lakhs Rs)	30-Jun-12	QoQ % Dif	31-Mar-12	YoY % Dif	30-Jun-11
Net Sales	98928	8.49	91187	29.46	76418
Total Expenditure	76069	-2.25	77822	30.26	58398
Profit before Interest, Dep. & Taxes	22859	71.04	13365	26.85	18020
Net Profit	12301	24.14	9909	25.14	9830
Diluted EPS	5	25	4	25	4
Net Sales	98928	8.49	91187	29.46	76418
Cost of materials	35548	6.46	33390	37.56	25842
Employee benefits	4494	3	4363	8.08	4158
Depreciation	7812	18.54	6590	21.78	6415
Other expenses	29641	-7.67	32105	50.39	19710
Total expenses	76069	-2.25	77822	30.26	58398
Profit before tax	18209	35.75	13414	31.54	13843
Tax Expenses	5908	69.04	3495	47.22	4013
Net Profit	12301	24.14	9909	25.14	9830
Face Value of Share (inRs )	1	0	1	0	1
Paid-up Equity	2380	0	2380	0	2380
Diluted EPS	5	25	4	25	4
Public Shareholding (%)	58	0	58	0	58

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