VIKAS WSP - RESULTS FOR Q3 FY 2017-18 - Q E DECEMBER 2017

VIKAS WSP LTD

RESULTS FOR Q3 FY 2017-18 

Q E DECEMBER 2017

VIKAS WSP has declared GOOD RESULTS  for the third quarter ending December 2017. The company is progressing steadily in respect of TOP LINE (SALES) an BOTTOM LINE (NET PROFIT) from quarter to quarter in the last 5 quarters. The Latest quarter (Q3) also shows good improvement. 

The various reports in recent past from the Management indicate that its products are receiving good acceptance and good orders. 

The Segment wise Revenue particulars enclosed to the results indicate that Sales are increasing in respect of all areas like USA, Europe and Domestic. Margins are also improving well. It will be interesting to watch its further progress, as its products are now receiving good acceptance (and good orders) outside India as well.

The results are as below :

VIKAS WSP	DEC'17	Sep '17	Dec '16	YOY	QOQ
Net Sales	178.25	164.4	19.19	828.87	8.42
TOTAL EXP	172.1	160.7	50.52	240.66	7.09
Interest	10.08	11.13	10.96	-8.03	-9.43
P/L Before Tax	6.15	5.34	-31.22	219.7	15.17
Tax	-1.82	-1.73	-0.26	600	5.2
Net Profit	7.97	7.07	-30.96	225.74	12.73
Equity	19.44	19.44	13.74	41.48	0
Basic EPS	0.41	0.37	-2.25	218.22	10.81
Diluted EPS	0.41	0.37	-1.9	221.58	10.81
MP	15.65
PE	9.54

DETAILS	PRESENT	WHAT IF ANALYSIS
QTRLY EPS	0.41	0.41	(IF) 0.6	(IF) 0.6
MARKET PRICE	16	(IF) 25	(IF) 25	36
P.E.RATIO	9.76	15.24	10.42	(IF) 15

This "what if analysis shows" that a price of 25 to 36 is easily possible for Vikas WSP, if the quarterly EPS rises at the same old (past) rate of growth to 0.6. In all cases, a very reasonable PE ratio is assumed. So, Good days seem to be ahead for Vikas WSP.

The Management commentary on the company's performance and its future progress is very impressive and eloquent in the recent past. So are the orders inflow.

Note : This does not constitute a BUY / SELL / HOLD  recommendation.

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