WELSPUN GUJARAT DOES WELL IN FY 2010
The cumulative, consolidated, audited figures of Welspun Gujarat for FY 10 and FY 09 are compared in the table below :
Net sales has increased to Rs.735027 Lakhs from Rs.573953 lakhs last year, an increase of Rs.161074 lakhs..
Net Profit has increased to 61041 lakhs from Rs.21351 lakhs - an increase of Rs.39690 lakhs - which is seen as an excellent performance in FY 10. All cost increases have been easily absorbed and 1/4th of the increased sales have translated into Net Profit.
A large part of the Net profits seem to have arisen in Q2 and Q3. While, Q1 was very low, Q4 was very good but slightly lower than Q2 and Q3.
The increase in net sales and consequent profitability, it is hoped, will continue in current year too.
A dividend of Rs.2 per share of Rs.5 has been proposed.
A large part of the Net profits seem to have arisen in Q2 and Q3. While, Q1 was very low, Q4 was very good but slightly lower than Q2 and Q3.
The increase in net sales and consequent profitability, it is hoped, will continue in current year too.
A dividend of Rs.2 per share of Rs.5 has been proposed.
On an Equity capital of Rs.10216 lakhs, the Basic EPS is 31.69, up from a mere 11.51 last year - almost 3 times of last year.
Thus, the performance of Welspun Gujarat has significantly improved with its sales in the FY10.
The current market price is Rs.275. Thus, the P/E ratio works out to 8.68, which appears to be definitely cheap, for this level of performance.
Some very recent announcements of the company sent to Exchange are also placed below :
Some very recent announcements of the company sent to Exchange are also placed below :
27-04-2010 Welspun Gujarat Stahl Rohren Limited has informed the Exchange that the Board has fixed the date of book closure from May 07, 2010 to May 11, 2010 (both days inclusive) for the purpose of payment of dividend.
27-04-2010 Welspun Gujarat Stahl Rohren Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on April 27, 2010 have recommended dividend of 40% on Equity Shares (Rs.2 per share of face Value of Rs.5 each).
27-04-2010 Welspun Gujarat Stahl Rohren Limited has informed the Exchange regarding the consolidated Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 735027 lacs for year ending on 31-MAR-2010 against Rs. 573953 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 61041 lacs for the year ending on 31-MAR-2010 against Rs. 21350 lacs for the year ending on 31-MAR-2009.
27-04-2010 Welspun Gujarat Stahl Rohren Limited has informed the Exchange regarding the standalone Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 661394 lacs for year ending on 31-MAR-2010 against Rs. 587831 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 54020 lacs for the year ending on 31-MAR-2010 against Rs. 23357 lacs for the year ending on 31-MAR-2009.
23-04-2010 Welspun Gujarat Stahl Rohren Limited has informed the Exchange that at the Extra-ordinary General Meeting of the Company held on April 23, 2010 : (1) Members have approved change of name of the Company from Welspun-Gujarat Stahl Rohren Limited to Welspun Corp Limited.
| Details | FY2010 CONSOL | FY2009 CONSOL |
| Description | Amount(Rs. in lakhs) | Amount(Rs. in lakhs) |
| Net Sales | 735027 | 573953 |
| Plus/minus in SIT and WIP | 28946 | -44034 |
| Raw Materials | 445895 | 436535 |
| Purchase of traded goods | - | 7765 |
| Employees Cost | 27788 | 13221 |
| Depreciation | 20606 | 14328 |
| Other Expenditure | 100535 | 96990 |
| Total Expenditure | 623770 | 524805 |
| Profit before Other Income, Interest & Exceptional Items | 111257 | 49148 |
| Other Income | 1853 | 1870 |
| Profit before Interest & Exceptional Items | 113110 | 51018 |
| Interest | 20709 | 17663 |
| Profit after Interest but before Exceptional Items | 92401 | 33355 |
| Profit(+)/Loss(-) from Ordinary Activities before tax | 92401 | 33355 |
| Tax Expense | 31359 | 12004 |
| Net Profit(+)/Loss(-) from Ordinary Activities after tax | 61042 | 21351 |
| Net Profit (+) / Loss (-) for the period | 61042 | 21351 |
| Minority Interest | 1 | 1 |
| Consolidated Net Profit (+) / Loss (-) for the period | 61041 | 21350 |
| Dividend (%) | - | - |
| Face Value (in Rs.) | 5 | 5 |
| Paid-up Equity Share Capital | 10216 | 9325 |
| Reserves excluding Revaluation Reserves | 279895 | 146644 |
| Basic EPS before Extraordinary items (in Rs.) | 31.69 | 11.51 |
| Diluted EPS before Extraordinary items (in Rs.) | 28.4 | 11.45 |
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