WHIRLPOOL INDIA - PERFORMANCE IN FY 10 - Q4 GOOD - PE SEEMS HIGH

Whirlpool of India Limited

NSE Symbol WHIRLPOOL

01-APR-2009 to 31-MAR-2010 (Annual)

Audited, Cumulative, Non-Consolidated

The annual Non-consolidated results for FY 10 of whirlpool of India are analyzed below:

Net Sales are Rs.2137 Crores, out of which. Q4 share is Rs.556 Crores.

Total expenditure is Rs.2013 Crores, Q4 share being 514 crores.

Net Profit for the year is Rs.145 Crores (Q4 = 58 Cr).

Basic EPS for the year on a Face Value of Rs.10 is 10.03, out of which Q4 contribution is 4.2.

A significant contributor to the company’s performance during the year and quarter 4 was the overall growth it saw in categories such as air conditioners, refrigerators and washing machines. 

At market price of Rs.262, the PE Ratio is 26.2 which appears to be high for this level of performance.

ANNUAL FY 10- IN LAKHS

Net Sales		213748
Other Operating Income		8175
CHANGE IN SIT & WIP		-11353
Raw Materials		107607
Purchase of traded goods		39788
Employees Cost		16036
Depreciation		3968
Other Expenditure		45291
Total Expenditure		201337
O P T		20586
Other Income		1902
Interest		827
Exceptional items		940
P B T		20721
Tax Expense		6219
P A T		14502
Net Profit		14502
Dividend (%)		-
Face Value (in Rs.)		10
Paid-up Equity		12687
Reserves		7284
Basic EPS		10.03

QUARTERLY FIGURES FOR Q 4

Q 4 FY 10	Q4 AMT(lakhs)
Net Sales	55629
Raw Materials	30786
Purchase of traded goods	18911
Other Expenditure	11625
Total Expenditure	51382
O P T	6372
Other Income	953
P B T	6970
Tax Expense	1198
P A T	5772
Net Profit	5772
Dividend (%)	-
Face Value (in Rs.)	10
Paid-up Equity	12687
BasicEPS( Rs.)	4.2

ANNOUNCEMENT TO THE EXCHANGE

17-05-2010 Whirlpool Of India Limited has informed the Exchange that the Board of Directors at its meeting held on May 17, 2010 inter alia transacted following major business in the meeting: (1) The Dividend declared on Preference Shares is Rs.1 Per share for financial year 2008-09 & 2009-10 against Nil in the previous year. Interim dividend on preference shares was paid for financial years 2005-06, 2006-07 & 2007-08 during the financial year 2009-10 as against Nil in the previous year. (2) The Dividend proposed on Equity Shares is Nil as against Nil in the previous year. (3)Appointed Mr. Syed Shahzad Akhtar as Whole time Director w.e.f. May 17, 2010 (4) Resignation of Mr. Vikas Singhal as Whole Time Director w.e.f. March 31, 2010 was noted. (5) Approved part redemption of 4,34,92,500 10% Redeemable Non-Convertible Cumulative Preference Shares of Rs. 10 each at par amounting to Rs. 43,49,25,000 and the date of redemption shall be announced in due course.

HT MEDIA LIMITED IMPROVES WELL IN Q4 OF FY10

HT Media Limited

FY 09 VS FY 10

RESULTS COMPARISON

ANNUAL RESULTS REVIEW  (NON-CONSOLIDATED)

Net Sales has come down from Rs.1323.04 Cr to Rs.1263.11 Cr YOY.

However,  raw material consumption has drastically come down from  Rs.540.20 Cr to Rs. 410.32 Cr YOY. Consequently total expenditure has come down from  Rs. 1192.75 Cr to Rs.1057.56 Cr YOY.

Net Profit has gone up from Rs. 85.23 Cr to Rs. 124.77 Cr YOY. Basic EPS has been boosted from 3.64 to 5.32 YOY on a face value of Rs.2. The company has increased dividend from 15% to 18% YOY.

At the current Market price of rs.153.65, the PE ratio comes to 28.88.

However, the 4^th Qtr EPS has been 1.81. If this is annualized, the next annual EPS (forward earnings) may be around 7.24, on which current MP yields a PE ratio of 20.38.

QUARTERLY RESULT REVIEW (NON CONSOLIDATED)

For Last 5 Qtrs :

Q/E : 03/10:: 12/09::09/09::06/09::03/09

Net Sales/Income  :: 26530::32271::34705::32805::33382

Total Expenditure :: 20666 :: 26857 :: 29992 :: 28239 :: 30916

Net Profit ::  4257 :: 1842 :: 3141 :: 3240 :: 2343

Basic EPS :: 1.81 ::0.78 :: 1.34 :: 1.38 :: 1

ANNUAL RESULTS IN NUMBERS

FY 09  VS FY 10

(AUDITED,CUMULATIVE,NON-CONSOLIDATED)

FY09(Rs. in lakhs):: Description :: FY09(Rs. in lakhs)

132304  Net Sales ::         126311

1296       Other Operating Income :: 1984

-10          Increase/Decrease in SIT & WIP :: -49

54020    Consumption of Raw Materials :: 41032

20358    Employees Cost   :: 20818

5501       Depreciation ::  6379

39406    Other Expenditure :: 37576

119275  Total Expenditure :: 105756

14325    Profit from Operations ::  22539

2177       Other Income    :: 1617

16502    P.B.I.&EI :: 24156

3169       Interest                :: 2573

13333    P.A.I.(but before Exceptional Items):: 21583

1882       Exceptional items :: 3587

11451    P B T  ::  17996

2928       Tax Expense :: 5519

8523       P A T  :: 12477

8523       Net Profit :: 12477

15           Dividend (%) ::  18

2             Face Value (in Rs.) :: 2

4685       Paid-up Equity  ::  4700

85461    Reserves ::  96186

3.64        Basic EPS :: (in Rs.)  ::      5.31

3.64        Diluted EPS ::  (in Rs.) :: 5.31

QUARTERLY RESULTS IN NUMBERS

 (UNAUDITED,NON-CUMULATIVE, NON-CONSOLIDATED)

Q4 FY10,Q3, Q2. Q1. Q4 FY 09 

Net Sales  ::26530::32271::34705::32805::33382

Raw Materials::6706::9759::12278::12289::12825

Employees Cost  :: 4477 :: 5122 :: 5488 :: 5730 :: 5942

Total Exp:: 20666 :: 26857 :: 29992 :: 28239 :: 30916

Net Profit ::  4257 :: 1842 :: 3141 :: 3240 :: 2343

Dividend (%)     18 ::  - ::  - :: -  :: 15

Face Value (In Rs::2  :: 2 :: 2  :: 2 :: 2

Paid Up Equity :: 4700 :: 4700 :: 4700 :: 4700 :: 4685

Basic EPS :: 1.81 ::0.78 :: 1.34 :: 1.38 :: 1

ANNOUNCEMENTS BY COMPANY TO THE EXCHANGE

10-05-2010          Ht Media Limited has informed the Exchange that the Board of Directors at its meeting held on May 10, 2010, have recommended a Dividend on Equity Shares of Rs. 2/- each @ Re. 0.36 per Equity Share (18%) for the year, amounting to Rs. 846.08 lacs (excluding Dividend Distribution Tax of Rs. 140.52 lacs) for approval of the shareholders.                  -

05-03-2010          Ht Media Limited has informed the Exchange that "Hindustan Media Ventures Limited, a subsidiary of our Company, has filed a Draft Red Herring Prospectus dated 5th March, 2010 with SEBI, with respect to its proposed initial public offering of Equity Shares of Rs.10/- each for cash at a price including share premium, aggregating up to Rs.3000 million".

OTHER NEWS : Advertising and circulation revenues are improving well from the 4th Quarter.

We re-launched Hindustan Times as a young brand and also expanded the reach of Hindi Hindustan and Mint (the business paper), which is a strategy that has worked for us, said the company.

For the year ahead, we would invest about Rs 68-70 crore for further expanding the HT, Hindustan and Mint brand as well as for maintenance of our capital assets, said the company

For the year ahead, the company said, "We will continue to outperform competitors. There is buoyancy in terms of advertisements and the market should grow."

"Our online business, with DesiMartini.Com and Shine.Com has seen tremendous response from the market even when amid the slowdown. We are keenly studying the opportunities in the digital space around education and entertainment," the company said.