Zuari Industries Limited
FY 09 vs FY 10
Zuari Industries ‘s results for FY 10 present a mixed picture compared with FY 09.
From Rs.6090.60 crores in FY 09, Net Sales has come down to Rs.4277.55 Cr in FY 10, a fall of Rs.1813 Cr, which is very steep.
Consumption of raw materil has however also come down from Rs.3183.56 cr in FY 09 to Rs.1951.03 Cr in FY 10.
This has resulted in a smart rise of net profit from Rs. 93.28 Cr in FY 09 to Rs.156.96 Cr, thus enhancing the EPS from 31.69 to 53.31 YOY.
At the current MARKET PRICE of Rs. 640, the P/ E RATIO works out to Rs. 12.01.
However, the steep fall in sales is a matter for concern and needs to be addressed by the company.
The company has gone in for amalgamation with Gobind Sugar Mills Limited as can be seen from the announcements below. The benefit of amalgamation may accrue in due course.
Whether the lesser sales and lesser raw material cost are due to shift from other sources to GAS and if so, how much benefit is being passed on to customers is not yet clear.
Whether the lesser sales and lesser raw material cost are due to shift from other sources to GAS and if so, how much benefit is being passed on to customers is not yet clear.
RESULTS IN NUMBERS
FY 09 (Rs. in lakhs)::Description FY 10 (Rs. in lakhs)
609060 Net Sales/Income :: 427755
3116 Other Operating Income :: 4618
-13316 Increase/Decrease in SIT & WIP :: 15533
318356 Consumption of Raw Materials :: 195103
235504 Purchase of traded goods :: 137536
5546 Employees Cost :: 7586
1775 Depreciation :: 1951
52051 Other Expenditure :: 56632
599916 Total Expenditure :: 414341
12260 Profit from Operations :: 18032
6348 Other Income :: 5653
18608 Profit before Interest :: 23685
6066 Interest :: 1721
12542 Profit after Interest :: 21964
12542 Profit(+) before tax :: 21964
3214 Tax Expense :: 6268
9328 Net Profit(+) after tax :: 15696
9328 Net Profit (+) :: 15696
30 Dividend (%) :: 45
10 Face Value (in Rs.) :: 10
2944 Paid-up Equity Share Capital :: 2944
89796 Reserves :: 103942
31.69 Basic EPS::(in Rs.) 53.31
MARKET PRICE : 640
P / E RATIO : 12.01
ANNOUNCEMENTS TO THE EXCHANGE
10-05-2010 Zuari Industries Limited has informed the Exchange that the Board of Directors of the Company at their meeting held on May 08, 2010 has recommended an equity dividend of 45% - Rs.4.50 per share. -
03-05-2010 Zuari Industries Limited has submitted to the Exchange a copy of the proceedings of the Court convened Meeting of the equity shareholders of the Company held on April 26, 2010. Click Here
03-05-2010 Zuari Industries Limited has informed the Exchange that the Court Convened Meeting of the Equity Shareholders of the Company was held on April 26, 2010. Whereat the shareholders have approved with requisite majority, the Scheme of Arrangement and Amalgamation under section 391 to 394 of the Companies Act, 1956, between Gobind Sugar Mills Limited and Zuari Industries Limited.
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