ADANI ENTERPRISES
FY 09 VS FY 10
REVIEW OF CONSOLIDATED FIGURES
ADANI ENTERPRISES has produced mixed results for FY 10 compared to FY 09. The consolidated, non-consolidated and quarterly figures comparison is furnished below :
Net Sales on consolidated basis has decreased from Rs. 26181.81 Crores to Rs.25873.89 Cr YOY.
However, Total Expenditure has also decreased by a huge margin from Rs. 25338.46 Cr to Rs.24352.28 Cr YOY. The main decrease is under the item “purchase of traded goods”
Consolidated Net Profit has therefore increased from Rs. 504.65 Cr to Rs. 919.30 Cr YOY.
Since there is an increase from Rs.24.66 Cr in Paid-up Equity to Rs.49.80 Cr, the Basic EPS has come down from 20.46 to 18.55 YOY.
At current market price of Rs.595, the consolidated EPS yields a P/E ratio of 32.08.
Looking at the quarterly performance, we find erratic movements of both sales and profits.
Adani, based at Ahmedabad has interests in power, coal mining, oil and gas, real estate, city gas distribution etc. It has declared a dividend of Re 1 per share (FV :Rs.10).
The company said, it wants to raise Rs 4000 crore through issue of securities in global or domestic markets.The company closed its rights issue last month. The promoter family led by Gautam Adani, pouring a total of Rs 1,252 crore into the company through the rights issue. The equity base is enlarging faster than the sales and profits.
However, Looking at the confidence being shown by the promoters, it would be interesting to watch the further progress of the company.
INCLUDED IN MSCI :
The New York based MSCI, whose stock market indices are used as benchmarks globally, has included Rural Electrification Company (REC), Piramal Healthcare and Adani Enterprises in the MSCI India Index. Effective from May,26.
The changes, are expected to lead to an increase in liquidity in these stocks as portfolios of several global funds mirror the index.
REVIEW OF NON-CONSOLIDATED FIGURES
Net Sales is almost static. It was Rs. 11503.23 Cr in FY 09 and Rs. 11569.10 Cr in FY 10.
Total Expenditure has increased from Rs. 10995.67 Cr from Rs.11021.89 Cr in FY 10.
Consolidated Net Profit has decreased from Rs. 326.42 Cr to Rs.254.41 Cr.
13.24 Basic EPS has therefore decreased from Rs.13.24 to Rs. 5.13
REVEIW OF QUARTERLY FIGURES
The quarterly figures show an erratic trend in sales and profit both.
Basic EPS for q/e Mar10 was 1.15 :: For q/e 12/09 ,EPS was 0.61 :: For q/e 09/09, it was 3.54 :: For q/e 06/09, EPS was 3.19 :: For q/e 03/09, EPS was 5.54.
FY 09(in lakhs) :: Description :: FY 10(in lakhs)
2618181 :: Net Sales :: 2587389
7647 :: Other Operating Income :: 1598
-170192 :: Increase/Decrease in SIT & WIP:: -679
2589773 :: Purchase of traded goods :: 2297039
11463 :: Employees Cost :: 12052
8218 :: Depreciation :: 15146
94584 :: Other Expenditure :: 111670
2533846 :: Total Expenditure :: 2435228
1464 :: Other Income :: 3349
34882 :: Interest :: 50786
172 :: Exceptional items :: -430
58392 :: P B T :: 106752
7848 :: Tax Expense :: 9448
50544 :: P A T :: 97304
50544 Net Profit (+) :: 97304
79 :: Minority Interest :: 5374
50465 :: Consolidated Net Profit :: 91930
- Dividend (%) -
1 Face Value (in Rs.) 1
2466 :: Paid-up Equity :: 4980
299401 :: Reserves :: -
20.46 :: Basic EPS (in Rs.) :: 18.55
19.16 :: Diluted EPS (in Rs.) :: 18.22
Non-Consolidated Figures
For FY 09 and FY 10
FY 09(in lakhs) :: Description :: FY 10( in lakhs)
1150323 :: Net Sales :: 1156910
7182 :: Other Operating Income :: 1568
55713 :: Increase/Decrease in SIT &WIP :: 7288
- :: Raw Materials :: 1038930
990752 :: Purchase of traded goods :: -
6273 ::Employees Cost :: 3843
1208 :: Depreciation :: 1276
45621 :: Other Expenditure :: 50852
1099567 :: Total Expenditure :: 1102189
1284 :: Other Income :: 3010
21443 :: Interest :: 31005
319 :: Exceptional items :: -481
37460 :: P B T :: 28775
4818 :: Tax Expense :: 3334
32642 :: Consolidated Net Profit :: 25441
- :: Dividend (%) :: 100
1 :: Face Value (in Rs.) :: 1
2466 :: Paid-up Equity :: 4980
161844 :: Reserves :: -
13.24 Basic EPS :: (in Rs.):: 5.13
12.39 Diluted EPS :: (in Rs.):: 5.59
QUARTERLY FIGURES
Q/E ::31-Mar-10 :: 31-Dec-09 :: 30-Sep-09 :: 30-Jun-09 :: 31-Mar-09
Net Sales:: 298210 ::280046:: 307280::271374:: 287333
Total Exp ::290258 :: 271570 :: 292889 :: 256895 :: 276418
Net Profit :: 5730 :: 3049 :: 8789 :: 7873 :: 13671
Dividend (%):: 100 :: - - - :: 100
Face Value (In Rs 1 : 1: 1: 1: 1
Paid Up Equity :: 4980 :: 4960 :: 2473 :: 2466:: 2466
Basic EPS :: 1.15 :: 0.61 :: 3.54 :: 3.19 :: 5.54
Diluted EPS :: 1.86 :: 0.58 :: 3.31 :: 2.99 :: 5.16
ANNOUNCEMENTS TO THE EXCHANGE
14-05-2010 Adani Enterprises Limited has informed the Exchange that the Board of Directors of the Company has re-appointed Mr. Rajesh S. Adani as Managing Director of the Company for a further period of 5 (five) years w.e.f. June 10, 2010, subject to approval of members.
14-05-2010 Adani Enterprises Limited has informed the Exchange regarding the standalone Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 298210 lacs for quarter ending on 31-MAR-2010 against Rs. 287333 lacs for the quarter ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 5730 lacs for the quarter ending on 31-MAR-2010 against Rs. 13671 lacs for the quarter ending on 31-MAR-2009.
14-05-2010 Adani Enterprises Limited has informed the Exchange regarding the standalone Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 1156910 lacs for year ending on 31-MAR-2010 against Rs. 1150323 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 25441 lacs for the year ending on 31-MAR-2010 against Rs. 32642 lacs for the year ending on 31-MAR-2009.
14-05-2010 Adani Enterprises Limited has informed the Exchange regarding the consolidated Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 2587389 lacs for year ending on 31-MAR-2010 against Rs. 2618181 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 91930 lacs for the year ending on 31-MAR-2010 against Rs. 50465 lacs for the year ending on 31-MAR-2009.
14-05-2010 Adani Enterprises Limited has informed the Exchange that the Board of Directors in its Meeting held on May 14, 2010 has recommended the dividend at Re. 1 per share i.e. 100% (Previous year Re. 1/- per share - 100%) on fully paid up Equity Shares of Re. 1/- each of the Company.
14-05-2010 Adani Enterprises Limited has informed the Exchange regarding the consolidated Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 782447 lacs for quarter ending on 31-MAR-2010 against Rs. 865405 lacs for the quarter ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 33980 lacs for the quarter ending on 31-MAR-2010 against Rs. 16605 lacs for the quarter ending on 31-MAR-2009.
04-05-2010 Adani Enterprises Limited has informed the Exchange that the company will be publishing Audited Results of the Company for the year 2009-10, within 60 day (i.e by May 30, 2010) from the end of the financial year 2009-10. Hence, the company will not be publishing the unaudited results for the last quarter of the financial year 2009-10.
04-05-2010 Adani Enterprises Limited has informed the Exchange that the Board at its meeting held on May 04, 2010 decided to create, offer, issue and allot, from time to time in either one or more international offerings, in one or more foreign markets, in one or more tranches and/or in the course of one or more domestic offering(s) in India, such number of equity
any bonus issue expected
ReplyDelete