MADRAS CEMENTS LIMITED
Q1 FY 2011 RESULTS
COMPARISON
NON CONSOLIDATED FIGURES
Madras Cements has reported fall in sales and profits both in the Q1 FY2011 compared to the corresponding quarter of q1 FY2010 – and also proportionately (Q1 FY2011 x 4) compared to FY2010.
Net Sales is Rs.697 Cr – DOWN by 9.3% compared to corresponding Qtr of Q1 FY10 (Rs.768 Cr) – and proportionately down by 0.4% compared to FY 2010.(Rs.2801 Cr).
Profit from Operations is Rs.142 Cr – DOWN by 42.2% from Q1 FY2010 (Rs.246 Cr) – and proportionately down by 15.7% from FY2010 (Rs.674 Cr).
Net Profit is Rs.73 Cr – DOWN by a huge 47.6% from Q1 FY2010 (Rs.138 Cr) - and proportionately down by 17.9% from FY2010 (Rs.354 Cr). This , as we can see from the figures below, is due to (i) Fall in Net Sales income and (ii) a sizeable increase in Expenditure.
Basic EPS is Rs.3 against Rs.6 in Q1 FY2010 and Rs.15 in the whole of FY2010. The face value is Rs.1. Whether Madras cements can achieve last year’s EPS of Rs.15 is to be seen. At present rate, annual EPS can be around Rs.12.
MARKET PRICE : The market price is around Rs.100. In view of the lower results, the further price movements need to be watched.
EXPANDING CEMENT CAPACITIES : Most cement companies are expanding their Plants and new companies are seriously thinking of joining the Fray by starting new plants. Thus the growth in demand is being more than neutralized by supply. Hence, whether sales of all cement companies will register fall in coming quarters is to be seen. Also, whether this may lead to pricing pressures is a factor to be considered. The cement Industry needs to consider these factors seriously. While infrastructure Industry expansion will no doubt add to demand – the possibility for supply to outstrip demand cannot be overlooked. Madras cements is of course, one of the more efficient and highly profitable Units.
RESULTS IN FIGURES :
Jun-10 | Jun-09 | Dif%1 | Dif%2 | ||
Net Sales | 69724 | 76836 | -9.3 | 280089 | -0.4 |
Other Otg Income | 317 | 124 | 155.6 | 1291 | -1.8 |
SIT & WIP | -1822 | 279 | -753 | -400 | 1722 |
Raw Materials | 27616 | 25342 | 9 | 99868 | 10.6 |
Employees Cost | 3939 | 3273 | 20.3 | 13733 | 14.7 |
Depreciation | 5373 | 4506 | 19.2 | 19609 | 9.6 |
Other Exp | 20744 | 19001 | 9.2 | 81195 | 2.2 |
Total Exp | 55850 | 52401 | 6.6 | 214005 | 4.4 |
Profit.Operations | 14191 | 24559 | -42.2 | 67375 | -15.7 |
Other Income | 179 | 158 | 13.3 | 746 | -4 |
P B I&EI | 14370 | 24717 | -41.9 | 68121 | -15.6 |
Interest | 3500 | 3750 | -6.7 | 15088 | -7.2 |
P A I B B EI | 10870 | 20967 | -48.2 | 53033 | -18 |
PBT | 10870 | 20967 | -48.2 | 53033 | -18 |
Tax expense | 3610 | 7125 | -49.3 | 17676 | -18.3 |
PAT | 7260 | 13842 | -47.6 | 35357 | -17.9 |
Net Profit | 7260 | 13842 | -47.6 | 35368 | -17.9 |
Dividend (%) | - | - | 200 | ||
Face Value | 1 | 1 | 0 | 1 | |
Paid Up Equity | 2380 | 2380 | 0 | 2380 | |
Reserves | - | - | 153435 | ||
Basic EPS | 3 | 6 | -50 | 15 | -20 |
Public holding (%) | 58 | 58 | 0 | 58 |
ANNOUNCEMENTS
TO THE EXCHANGE
02-08-2010 Madras Cements Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-JUN-2010 as follows: Net Sales of Rs. 69724 lacs for quarter ending on 30-JUN-2010 against Rs. 76836 lacs for the quarter ending on 30-JUN-2009. Net Profit / (Loss) of Rs. 7260 lacs for the quarter ending on 30-JUN-2010 against Rs. 13842 lacs for the quarter ending on 30-JUN-2009. -
24-05-2010 Madras Cements Limited has informed the Exchange that the company has announced the book closure from July 27, 2010 to August 02, 2010 (Both days inclusive) for the purpose of payment of final dividend of Rs. 0.50/- per share of Rs. 1/- each. Further, the Annual General Meeting is scheduled to be held on August 02, 2010. -
24-05-2010 Madras Cements Limited has informed the Exchange that the Board of Directors at its Meeting held on May 24, 2010 has approved payment of final dividend of Rs. 0.50 per share for the year 2009-10. Together with the interim dividend of Rs. 1.50 per share paid already, the total dividend for the year 2009-10 is Rs. 2.00 per share.
24-05-2010 Madras Cements Limited has informed the Exchange regarding the standalone Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 280089 lacs for year ending on 31-MAR-2010 against Rs. 253040 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 35368 lacs for the year ending on 31-MAR-2010 against Rs. 36352 lacs for the year ending on 31-MAR-2009.
28-01-2010 Madras Cements Ltd. has informed the Exchange regarding the standalone Results for the quarter ended on 31-DEC-2009 as follows: Net Sales of Rs. 60710 lacs for quarter ending on 31-DEC-2009 against Rs. 60916 lacs for the quarter ending on 31-DEC-2008. Net Profit / (Loss) of Rs. 1601 lacs for the quarter ending on 31-DEC-2009 against Rs. 6273 lacs for the quarter ending on 31-DEC-2008.
31-10-2009 Madras Cements Ltd. has informed the Exchange that the Board of Directors of the Company at their meeting held on October 27, 2009, have decided to divest the shares in a wholly owned subsidiary, viz. MADRAS SUGARS LIMITED, which was incorporated for the purpose of carrying out sugar business. The paid-up capital of Madras Sugars Limited in Rs. 10 lakhs.
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