East India Hotels (EIH) Ltd Growing Strategically

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "East India Hotels (EIH) Ltd Growing Strategically"

Transcription

1 East India Hotels (EIH) Ltd Growing Strategically BSE Code NSE Code EIHOTEL Bloomberg Code Face Value 10 CMP Rs 224 Market Cap Rs 11.7bn (as on August 27th 2004) Share Holding Pattern Others 17% Indian public 16% Financial Institutions 18% Shareholding Pattern Share Price Chart Mutual funds 7% Promoters 42% Company background M.S. Oberoi established East Indian Hotels (EIH) in 1949 and is the flagship company of Oberoi group. It owns the second largest chain of hotels in India. The company is in luxury hotels, restaurant, management contracts and travel and tours business. Industry scenario The industry has endured the repercussions of numerous of global events, in the last few years. Weak global economies, depressed capital markets, September 11 attacks, wars in Afghanistan and Iraq and tension on the Indian border had an impact on the industry. In FY04, tourism sector improved in India with the Government aggressively promoting brand Incredible India and improvement in relation with Pakistan also helped the industry. According to World Travel and Tourism Council [WTTC], India s travel and tourism demand is expected to grow at an annual rate of 8.8% to US$ 90.4bn in the next ten years. According to WTTC, India s travel and tourism industry could witness a growth of 9.1% in its contribution to the country s GDP in the year Company s growth initiatives Managing new property In January 2004, the company started to manage new property, ie Trident Hilton in Gurgaon. This property is a business hotel with resort ambience. With its proximity to national and international airport and New Delhi being the capital of our country, it has received a good response. Strategic alliance In March 2004, the company signed an agreement with Hilton International to cobrand its Trident hotels in India. According to the agreement, the company would continue to manage and operate all Trident Hilton hotels. While Hilton would undertake international marketing, promotion and reservations through their network, this alliance would bring international brand, expertise and marketing resources of Hilton Group to it s Indian counterpart. August 30,

2 Re-branding hotels The management had decided to rename Vilas hotels as The Oberoi Rajvilas, The Oberoi Amarvilas, The Oberoi Udaivilas, etc. Re-naming was done in order to remove the misconception from mind of customers that the Vilas hotels were separate from the Oberoi brand. This re-branding would strengthen the reach of the Oberoi brand in the world market. International marketing The company is strengthening its marketing efforts across the globe. To optimize brand recall, the company has retained specialized public relations companies in United States and Europe. The group has strategic relations with the leading hotels and small luxury hotels of the world, to help them in marketing and assist them in distribution. Highlights Gross revenues improved FY02 and FY03 were challenging years for the hotel and tourism industry and the company was no exception to it as their gross revenues were under pressure. In FY04, the company s gross revenue grew by 16% to Rs5bn.In FY04, company s room revenue grew by 18.7% to Rs2.2 bn, food and beverages revenue grew by 12.7% to Rs1.8bn and other services grew by 21.4% to Rs385mn. Gross Revenue Rs in mn Revenue Break -up in FY04 Other Services 9% Food & Beverage 41% Room 50% Source: Company Annual Reports August 30,

3 Profits up In FY04, the company s profit increased by 82% to 282mn. Profits grew due increasing occupancy levels and improving OPM. During the year, occupancy levels increased to 61% against 55% in FY03.OPM increased from 21.3% in FY03 to 26.6% in FY04. In FY04, the company declared dividend per equity share [DPS] of Rs3 and its earning per share EPS stood at Rs Rs EPS DPS Source: Company Annual Reports Debt equity ratio The company s debt to equity ratio increased from 0.76 in FY03 to 0.91 in FY04. Loanable funds of the company increased from Rs6bn in FY03 to Rs7.4bn in FY04.As a result, interest cost increased from Rs188mn in FY03 to Rs348mn in FY04. Working capital management EIH s net working capital increased from Rs1.2bn in FY03 to Rs1.4bn in FY04, primarily due to increase in loans and advances from Rs1.4bn in FY03 to Rs1.7bn in FY04. The company increased loans to its subsidiaries Mumtaz resorts by 136% to Rs126mn and Mashobra resort by 165% to Rs209mn Debtor s days increased marginally from 37.4 days to 39.2 days. Creditor days increased marginally from 50.5 to 51.3 days. Inventory turnover improved from 30.1 days to 25.9 days. August 30,

4 Income Statement Period to FY02 FY03 FY04 (Rs in mn) (12) (12) (12) Net Sales 3,747 3,823 4,450 Operating expenses (3,311) (3,537) (3,860) Operating profit Other income PBIDT ,185 Interest (186) (188) (348) Depreciation (288) (346) (389) Amortization (1) (7) (34) Profit before tax (PBT) Tax (131) (120) (133) Profit after tax (PAT) Balance Sheet Period FY02 FY03 FY04 (Rs mn) (12) (12) (12) Sources of Funds Share Capital 1,524 1,524 1,224 Reserves 8,869 8,721 8,645 Net Worth 10,393 10,245 9,869 Loan Funds 4,648 6,018 7,435 Def Tax (liability) 0 1,102 1,185 Total 15,041 17,365 18,489 Uses of Funds Gross Block 11,922 13,961 14,270 Accd Depreciation (2,253) (2,564) (2,940) Net Block 9,669 11,396 11,330 Capital WIP 2,741 1,808 2,069 Total Fixed Assets 12,410 13,205 13,399 Investments 2,801 2,850 3,399 Total Current Assets 2,300 2,643 2,998 Total Current Liabilities (1,521) (1,433) (1,584) Net Working Capital 779 1,210 1,414 Miscellaneous expenditure Def Tax (assets) (979) 0 0 Total 15,041 17,365 18,489 August 30,

5 Cash Flow Statement Period to FY03 FY04 (Rs mn) Net profit before tax and extraordinary items Depreciation Interest expense Interest income (69) (73) Dividend income (1) (1) Operating profit before working capital changes 738 1,078 Add: changes in working capital (Inc)/Dec in (Inc)/dec in sundry debtors (24) (86) (Inc)/Dec in interst accured (1) 2 (Inc)/dec in inventories (25) (0) (inc)/dec in other current assets (126) (351) Inc/(dec) in sundry creditors Inc/(dec) in other current liabilities (117) 54 Net change in working capital (264) (284) Cash from operating activities Less: Income tax (120) (133) Inc/(Dec) in Def Tax liability 1, (Inc)/Dec in Def Tax asset (979) 0 Cash flow before extraordinary item Misc expenses (72) (176) Net cash from operating activities Cash flows from investing activities (Inc)/Dec in fixed assets (1,141) (583) (Inc)/Dec in Investments (49) (549) Interest received Dividends received 1 1 Net cash from investing activities (1,119) (1,058) Cash flows from financing activities Inc/(Dec) in debt 1,370 1,417 Inc/(Dec) in equity/premium 0 (300) Direct add/(red) to reserves (34) (92) Interest expense (188) (348) Dividends (268) (266) Net cash used in financing activities Net increase in cash and cash equivalents 167 (80) Cash at start of the year Cash at end of the year August 30,

6 Ratios Period FY02 FY03 FY04 (12) (12) (12) Per share ratios EPS (Rs) Div per share Book value per share Valuation ratios P/E P/BV EV/sales EV/ PBIT EV/PBIDT Profitability ratios OPM (%) PAT % ROCE RONW Liquidity ratios Current ratio Debtors days Inventory days Creditors days Leverage ratios Debt / Total equity Component ratios Raw material Staff cost Upkeep and services cost Other expenditure Payout ratios Dividend Payout Ratio Dividend (Rs in mn) Total dividend (inc div tax) (in mn) No. of equity shares (in mn) CMP (Rs) Market capitalisation (Rs in mn) 11,736 11,736 11,736 Enterprise value (Rs in mn) 16,027 17,230 18,727 Enterprise value per share (Rs/share) Published in August India Infoline Ltd India Infoline Ltd. All rights reserved.regd. Off: 24, Nirlon Complex, Off W E Highway, Goregaon(E) Mumbai Tel.: +(91 22) Fax: This report is for information purposes only and does not construe to be any investment, legal or taxation advice. It is not intended as an offer or solicitation for the purchase and sale of any financial instrument. Any action taken by you on the basis of the information contained herein is your responsibility alone and India Infoline Ltd (hereinafter referred as IIL) and its subsidiaries or its employees or directors, associates will not be liable in any manner for the consequences of such action taken by you. We have exercised due diligence in checking the correctness and authenticity of the information contained herein, but do not represent that it is accurate or complete. IIL or any of its subsidiaries or associates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this publication. The recipients of this report should rely on their own investigations. IIL and/or its subsidiaries and/or directors, employees or associates may have interests or positions, financial or otherwise in the securities mentioned in this report. August 30,

Mangalam Cement Weak volumes marred performance

Mangalam Cement Weak volumes marred performance CMP* (Rs) 206 Market Cap. (Rs bn) 5.5 Free Float (%) 72 Shares O/S (mn) 26.7 Mangalam Cement Weak volumes marred performance Mangalam Cement (MCL) delivered a weak performance in 2Q but was marginally

More information

BUY RSWM LTD SYNOPSIS. CMP 292.20 Target Price 336.00. SEPTEMBER 1 st 2015. Result Update(PARENT BASIS): Q1 FY16

BUY RSWM LTD SYNOPSIS. CMP 292.20 Target Price 336.00. SEPTEMBER 1 st 2015. Result Update(PARENT BASIS): Q1 FY16 BUY CMP 292.20 Target Price 336.00 RSWM LTD Result Update(PARENT BASIS): Q1 FY16 SEPTEMBER 1 st 2015 ISIN: INE611A01016 Index Details Stock Data Sector Textiles BSE Code 500350 Face Value 10.00 52wk. High

More information

BUY. KELLTON TECH SOLUTIONS LTD Result Update (CONSOLIDATED): Q1 FY16. CMP 226.50 Target Price 260.00. JANUARY 9 th 2015 SYNOPSIS ISIN: INE164B01022

BUY. KELLTON TECH SOLUTIONS LTD Result Update (CONSOLIDATED): Q1 FY16. CMP 226.50 Target Price 260.00. JANUARY 9 th 2015 SYNOPSIS ISIN: INE164B01022 BUY CMP 226.50 Target Price 260.00 KELLTON TECH SOLUTIONS LTD Result Update (CONSOLIDATED): Q1 FY16 JANUARY 9 th 2015 ISIN: INE164B01022 Index Details Stock Data Sector IT Software Products BSE Code 519602

More information

PEER GROUPS CMP MARKET CAP EPS P/E (X) P/BV(X) DIVIDEND Company Name (Rs.) Rs. in mn. (Rs.) Ratio Ratio (%)

PEER GROUPS CMP MARKET CAP EPS P/E (X) P/BV(X) DIVIDEND Company Name (Rs.) Rs. in mn. (Rs.) Ratio Ratio (%) BUY CMP 196.40 Target Price 225.00 STYLAM INDUSTRIES LIMITED Result Update (PARENT BASIS): Q2 FY16 DECEMBER 16 th. 2015 ISIN: INE239C01012 12 th h, 2013 Index Details Stock Data Sector Plastic Products

More information

Sun Pharmaceutical Industries

Sun Pharmaceutical Industries 2QFY15 Result Update Institutional Equities Sun Pharmaceutical Industries Reuters: SUN.BO; Bloomberg: SUNP IN 14 November 2014 In-line Earnings Despite Strong Taro Performance Despite strong numbers posted

More information

Ratio Analysis 0.75. Fixed Assets Fixed Assets + Net Working Capital =0.75 Fixed Assets

Ratio Analysis 0.75. Fixed Assets Fixed Assets + Net Working Capital =0.75 Fixed Assets Ratio Analysis CA Past Years Exam Answer Answer to Q.1: (Nov, 009) Fixed assets ` 18,00,000 Proprietor s funds ` 4,00,000 Note: 1 Ratio of fixed assets to proprietor s funds 0.75 Properietors Fund 0.75

More information

Ratio Analysis. A) Liquidity Ratio : - 1) Current ratio = Current asset Current Liability

Ratio Analysis. A) Liquidity Ratio : - 1) Current ratio = Current asset Current Liability A) Liquidity Ratio : - Ratio Analysis 1) Current ratio = Current asset Current Liability 2) Quick ratio or Acid Test ratio = Quick Asset Quick liability Quick Asset = Current Asset Stock Quick Liability

More information

BUY. ECLERX SERVICES LIMITED (CONSOLIDATED) Result Update: Q1 FY16. CMP 1677.00 Target Price 1880.00. SEPTEMBER 2 nd, 2015 SYNOPSIS ISIN: INE738I01010

BUY. ECLERX SERVICES LIMITED (CONSOLIDATED) Result Update: Q1 FY16. CMP 1677.00 Target Price 1880.00. SEPTEMBER 2 nd, 2015 SYNOPSIS ISIN: INE738I01010 BUY CMP 1677.00 Target Price 1880.00 ECLERX SERVICES LIMITED (CONSOLIDATED) Result Update: Q1 FY16 SEPTEMBER 2 nd, 2015 ISIN: INE738I01010 Index Details Stock Data Sector IT & ITes BSE Code 532927 Face

More information

Techno Electric & Engineering Limited

Techno Electric & Engineering Limited Engineering & Capital Goods Event Update Techno Electric & Engineering Limited Buy Wind business spin off will lead to value unlocking. Institutional Research CMP (`) 404 Target (`) 504 Nifty: 8,224 Sensex:

More information

PEER GROUPS CMP MARKET CAP EPS P/E (X) P/BV(X) DIVIDEND Company Name (Rs.) Rs. in mn. (Rs.) Ratio Ratio (%)

PEER GROUPS CMP MARKET CAP EPS P/E (X) P/BV(X) DIVIDEND Company Name (Rs.) Rs. in mn. (Rs.) Ratio Ratio (%) BUY CMP 170.30 Target Price 196.00 GEOMETRIC LTD Result Update (CONSOLIDATED): Q2 FY16 DECEMBER 17 th 2015 ISIN: INE797A01021 12 th h, 2013 Index Details Stock Data Sector IT Consulting & Software BSE

More information

Intermediate (IPC)Course Paper 3 Part 2 Financial Management Chapter 3 CA. N Raja Natarajan, B.Com, PGDBA, ACA

Intermediate (IPC)Course Paper 3 Part 2 Financial Management Chapter 3 CA. N Raja Natarajan, B.Com, PGDBA, ACA Intermediate (IPC)Course Paper 3 Part 2 Financial Management Chapter 3 CA. N Raja Natarajan, B.Com, PGDBA, ACA Classification of Ratios Liquidity Ratios Capital Structure / Leverage Ratios Activity Ratios

More information

Tree House Education & Accessories

Tree House Education & Accessories 2QFY2016 Result Update Educational Services November 10, 2015 Tree House Education & Accessories Performance Highlights Y/E March (` cr) 2QFY16 2QFY15 % chg (qoq) 1QFY16 % chg (yoy) Net sales 57 50 15.1

More information

Company Overview. Financial Performance

Company Overview. Financial Performance Jan/15 Feb/15 Mar/15 Apr/15 May/15 Jun/15 Jul/15 Aug/15 Sep/15 Oct/15 Nov/15 Dec/15 SPS Finquest Ltd CMP: 84.60 January 13, 2015 Stock Details BSE code 538402 BSE ID SPS Face value ( ) 10 No of shares

More information

Guidance on Accounting Elements

Guidance on Accounting Elements Guidance on Accounting Elements OCR GCE in Business Studies August 2012 The following guidance has been prepared in order to assist centres in the preparation of their candidates for the accounting elements

More information

Simplex Infrastructures

Simplex Infrastructures 2QFY216 Result Update Infrastructure November 17, 215 Simplex Infrastructures Performance Highlights Quarterly highlights - Standalone Y/E March (` cr) 2QFY16 1QFY16 2QFY15 % chg (yoy) % chg (qoq) Net

More information

Flexituff International Ltd. (FIL)

Flexituff International Ltd. (FIL) s $CompanyN ame$ Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 (Wholly owned subsidiary of Bank of Baroda) Q2FY16 Result Review BUY Flexituff International Ltd. (FIL)

More information

RATIO ANALYSIS FORMULAS + THEORIES

RATIO ANALYSIS FORMULAS + THEORIES A) Cash Position Ratio : - 1) Absolute Cash Ratio = Cash Reservoir Current Liabilities 2) Cash Position to Total asset Ratio = Cash Reservoir * 100 (Measure liquid layer of assets) Total Assets 3) Interval

More information

Coal India Ltd. Subdued e-auction realization impacted profitability BUY. Nov. 17, 2015

Coal India Ltd. Subdued e-auction realization impacted profitability BUY. Nov. 17, 2015 17-Nov-14 17-Dec-14 17-Jan-15 17-Feb-15 17-Mar-15 17-Apr-15 17-May-15 17-Jun-15 17-Jul-15 17-Aug-15 17-Sep-15 17-Oct-15 Coal India Ltd. Subdued e-auction realization impacted profitability Coal India Ltd.

More information

HOLD. Q4 earnings beat but order backlog flat ABB. Target Price: Rs 1,213. Key drivers

HOLD. Q4 earnings beat but order backlog flat ABB. Target Price: Rs 1,213. Key drivers 05 FEB 2016 Quarterly Update HOLD Target Price: Rs 1,213 Q4 earnings beat but order backlog flat s Q4CY15revenue at Rs24bnwasin line withour expectation of Rs24bn. EBITDA margin improved 290 bps YoYand

More information

JSW Energy Ltd. Interest expenses dragged the bottom-line BUY. Jan. 25, 2016

JSW Energy Ltd. Interest expenses dragged the bottom-line BUY. Jan. 25, 2016 JSW Energy Ltd. Interest expenses dragged the bottom-line JSW Energy Ltd. (JSWEL) reported a mixed set of numbers for Q3 FY16 quarter. The company reported a consolidated total operating income of Rs.

More information

SOHO China (410) Buy Nov 20, 2009. Company update. 4 Acquisitions within 6 Months. Samson Man, CFA (852)-2532-1539 samson.man@firstshanghai.com.

SOHO China (410) Buy Nov 20, 2009. Company update. 4 Acquisitions within 6 Months. Samson Man, CFA (852)-2532-1539 samson.man@firstshanghai.com. SOHO China (410) Company update Buy Nov 20, 2009 4 Acquisitions within 6 Months Purchase Nexus Centre in Beijing. SOHO China announced to acquire Nexus Centre in Beijing. Total GFA is 103,340 sqm. Total

More information

Salzer Electronics. 2QFY16 Result Review BUY. Steady performance continued; maintain BUY. Sector: Electric Equipment

Salzer Electronics. 2QFY16 Result Review BUY. Steady performance continued; maintain BUY. Sector: Electric Equipment $CompanyN ame$ Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 2QFY16 Result Review (Wholly owned subsidiary of Bank of Baroda) BUY Salzer Electronics Ltd. Steady

More information

BUY. Muted Q3; Brands & Retail story to unfold ARVIND. Target Price: Rs 344. Segmental highlights

BUY. Muted Q3; Brands & Retail story to unfold ARVIND. Target Price: Rs 344. Segmental highlights 05 FEB 2016 Quarterly Update BUY Target Price: Rs 344 Muted Q3; Brands & Retail story to unfold Arvind s Q3 consolidated revenue at Rs 21.6 bn (Rs 20.7 bn in Q3FY15) was marginally below our estimate of

More information

PI Industries. 2QFY16 Result Review HOLD. Custom synthesis restricted 2Q revenue growth ; maintain HOLD. Sector: AGRI

PI Industries. 2QFY16 Result Review HOLD. Custom synthesis restricted 2Q revenue growth ; maintain HOLD. Sector: AGRI $Com panyname$ Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 2QFY16 Result Review (Wholly owned subsidiary of Bank of Baroda) HOLD PI Industries Ltd. Custom synthesis

More information

Accumulate. Exide Industries Ltd(EIL) Automobile Ancillaries RETAIL EQUITY RESEARCH

Accumulate. Exide Industries Ltd(EIL) Automobile Ancillaries RETAIL EQUITY RESEARCH Q3FY16 RESULT UPDATE GEOJIT BNP PARIBAS Research RETAIL EQUITY RESEARCH Exide Industries Ltd(EIL) Automobile Ancillaries BSE CODE: 500086 NSE CODE: EXIDEIND Bloomberg CODE: EXID IN SENSEX: 23,759 Accumulate

More information

CMP: 1152.10 JUNE 2016 SWARAJ ENGINES LTD

CMP: 1152.10 JUNE 2016 SWARAJ ENGINES LTD Index Details SWARAJ ENGINES LTD Result Update (PARENT BASIS): Q4 FY16 Stock Data Sector Auto Parts & Equipment BSE Code 500407 Face Value 10.00 52wk. High / Low (Rs.) 1207.90/762.00 Volume (2wk. Avg.)

More information

Shriram Transport Finance Subsidiaries witness sharp increase in NPA

Shriram Transport Finance Subsidiaries witness sharp increase in NPA Shriram Transport Finance Subsidiaries witness sharp increase in NPA Shriram Transport Finance s (STFC) standalone performance was broadly in-line with our expectation but grossly disappointed on asset

More information

SUPREME INDUSTRIES LTD Plastic Products HOLD RETAIL EQUITY RESEARCH

SUPREME INDUSTRIES LTD Plastic Products HOLD RETAIL EQUITY RESEARCH Q2FY16 RESULT UPDATE GEOJIT BNP PARIBAS Research RETAIL EQUITY RESEARCH SUPREME INDUSTRIES LTD Plastic Products BSE CODE:509930 NSE CODE: SUPREMEIND Bloomberg CODE: SIL IN SENSEX: 24,470 HOLD CMP Rs725

More information

PEER GROUPS CMP MARKET CAP EPS P/E (X) P/BV(X) DIVIDEND Company Name (Rs.) Rs. in mn. (Rs.) Ratio Ratio (%)

PEER GROUPS CMP MARKET CAP EPS P/E (X) P/BV(X) DIVIDEND Company Name (Rs.) Rs. in mn. (Rs.) Ratio Ratio (%) BUY CMP 514.75 Target Price 590.00 DOC CODE: FOTL_090220164_3 IGARASHI MOTORS INDIA LTD Result Update (PARENT BASIS): Q3 FY16 FEBRUARY 9 th 2016 ISIN: INE188B01013 12 th h, 2013 Index Details Stock Data

More information

Indian Overseas Bank Limited

Indian Overseas Bank Limited Vol. 03/09-10 June 27, 2009 Analyst: Abhishek Gupta abhishekg@bajajcapital.com Reviewed by: Alok Agarwala aloka@bajajcapital.com B U Y CMP (26.06.09) : Rs. 85.90 Target : Rs. 125.00 Upside Potential :

More information

Sun Pharmaceutical Industries

Sun Pharmaceutical Industries 1QFY15 Result Update Institutional Equities Sun Pharmaceutical Industries Reuters: SUN.BO; Bloomberg: SUNP IN 14 August 2014 Performance In Line Despite Taro Missing Estimates Sun Pharmaceutical Industries

More information

Strong operational performance

Strong operational performance ABB India Equity Research Engineering & Capital Goods February 8, 2016 Result Update Emkay Your success is our success Strong operational performance CMP Target Price Rs1,134 Rs1,407 ( ) Rating Upside

More information

Polaris BUY. Virtusa acquires majority in Polaris. Institutional Equity Research. November 05, 2015. Target Price Rs220. IT India.

Polaris BUY. Virtusa acquires majority in Polaris. Institutional Equity Research. November 05, 2015. Target Price Rs220. IT India. CMP* (Rs) 204 Market Cap. (Rs bn) 20 Free Float (%) 71 Shares O/S (mn) 100 Polaris Virtusa acquires majority in Polaris Virtusa Corp has purchased promoter and Citi s stake in Polaris of 53% for Rs220

More information

HOLD. The case of missing sales growth ZYDUS WELLNESS. Target Price: Rs 780. Q3highlights

HOLD. The case of missing sales growth ZYDUS WELLNESS. Target Price: Rs 780. Q3highlights The case of missing sales growth Zydus Q3 net sales at Rs1.1 bn was up 3% on a like-to-like basis (Q3 15 had Rs 223 mn additional excise duty credit from prior periods), below our estimate of 6%. The company

More information

East India Hotels (EIH) 114

East India Hotels (EIH) 114 Result Update Rating matrix Rating : Hold Target : 124 Target Period : 12-15 months Potential Upside : 8% What s Changed? Target Changed from 133 to 124 EPS FY16E Unchanged EPS FY17E Changed from 2.8 to

More information

BUY GUJARAT STATE PETRONET. Operationally in line; other income surprises. Target Price: Rs 160. Valuations comfortable. Visible triggers ahead

BUY GUJARAT STATE PETRONET. Operationally in line; other income surprises. Target Price: Rs 160. Valuations comfortable. Visible triggers ahead 05 FEB 2016 Quarterly Update BUY Target Price: Rs 160 Operationally in line; other income surprises GSPL s Q3FY16PAT at Rs 1.2bn was higher than our estimate (Rs 1.1bn) due to higher other income at Rs

More information

Bata India Ltd. (BIL)

Bata India Ltd. (BIL) Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Q2FY16 Result Review (Wholly owned subsidiary of Bank of Baroda) BUY Bata India Ltd. (BIL) Cloudy quarter sunshine ahead;

More information

East India Hotels (EIH) 109

East India Hotels (EIH) 109 Result Update Rating matrix Rating : Hold Target : 1 Target Period : 12-15 months Potential Upside : -8% What s Changed? Target Changed from 124 to 1 EPS FY17E Changed from 2.3 to 2. EPS FY18E Introduced

More information

Sphere Global Services Limited

Sphere Global Services Limited Sphere Global Services Limited Date: 13 th January, 216 Stock Performance Details Shareholding Details September 215 Current Price : ` 3.95^ Face Value : ` 1 per share 52 wk High / Low : ` 9.35 / 31.1

More information

HOLD HEXAWARE TECHNOLOGIES. Q4 lackluster; CY16 holds promise. Target Price: Rs 252. Q4earnings concall highlights

HOLD HEXAWARE TECHNOLOGIES. Q4 lackluster; CY16 holds promise. Target Price: Rs 252. Q4earnings concall highlights 05 FEB 2016 Quarterly Update HOLD Target Price: Rs 252 Q4 lackluster; CY16 holds promise Hexaware s Q4CY15 performance was lower than our estimates. Revenue growth and margin were largely impacted due

More information

Share gains with healthy margin uptick; Retain Buy

Share gains with healthy margin uptick; Retain Buy Colgate-Palmolive India Equity Research Consumers January 23, 2015 Result Update Emkay Your success is our success Share gains with healthy margin uptick; Retain Buy CMP Target Price Rs1,913 Rs1,940 (

More information

CD Equisearch Pvt Ltd

CD Equisearch Pvt Ltd Dec 10, 2015 Mayur Uniquoters Ltd. No. of shares (m) 46.3 Mkt cap (Rs crs/$m) 1943/291 Current price (Rs/$) 420/6.3 Price target (Rs/$) 475/7.1 52 week H/L (Rs.) 518/378 Book Value (Rs/$) 67.8/1.0 P/BV

More information

BUY. JYOTHY LABORATORIES LTD Result Update (CONSOLIDATED BASIS): Q2 FY16. CMP 298.00 Target Price 340.00. DECEMBER 29 th 2015.

BUY. JYOTHY LABORATORIES LTD Result Update (CONSOLIDATED BASIS): Q2 FY16. CMP 298.00 Target Price 340.00. DECEMBER 29 th 2015. BUY CMP 298.00 Target Price 340.00 JYOTHY LABORATORIES LTD Result Update (CONSOLIDATED BASIS): Q2 FY16 DECEMBER 29 th 2015 ISIN: INE668F01031 12 th h, 2013 Index Details Stock Data Sector Household Products

More information

Actuarial Society of India

Actuarial Society of India Actuarial Society of India EXAMINATIONS November 2004 SUBJECT - 108: Finance and Financial Reporting Indicative Solution S-108 Page 1 of 7 1 D 2 C 3 B 4 D 5 D 6 A 7 B 8 C 9 B 10 D 11 Trade credit is short-term

More information

BUY. Key Risks. Technology - Technology Services - Information Services. Nov 19, 2015. CRISIL Ltd. Recommendation (Rs.)

BUY. Key Risks. Technology - Technology Services - Information Services. Nov 19, 2015. CRISIL Ltd. Recommendation (Rs.) Technology - Technology Services - Information Services India Research - Stock Broking Economic recovery to boost revenues across business segments: The rating revenues witnessed 8% growth in 214 compared

More information

Piramal Glass. Investment Idea. Turnaround story. Investment Rationale. Company Description. Horizon 12-18 months. CMP:106 Target:146 View: Buy

Piramal Glass. Investment Idea. Turnaround story. Investment Rationale. Company Description. Horizon 12-18 months. CMP:106 Target:146 View: Buy Piramal Glass Price (Rs.) Market Cap (Rs.Crs.) 52 High / Low (Rs.) Mcap/Sales TTM Book Value (Rs.) TTM PE TTM EPS P/BV FV BSE NSE 106 785 142/79.15 0.77 28 10.9 8.9 3.5 10 532949 PIRGLASS Shareholding

More information

HOLD ASTRAL POLYTECHNIK. Q3 muted; recovery ahead. Target Price: Rs 377. Key highlights. Key drivers

HOLD ASTRAL POLYTECHNIK. Q3 muted; recovery ahead. Target Price: Rs 377. Key highlights. Key drivers 11 FEB 2016 Quarterly Update HOLD Target Price: Rs 377 Q3 muted; recovery ahead Astral sq3fy16 results were impacted due to: (1) adverse raw-material prices in pipe division (~Rs 80 mn), (2) closure of

More information

3 Financial Analysis and Planning

3 Financial Analysis and Planning 3 Financial Analysis and Planning BASIC CONCEPTS AND FORMULAE 1. Financial Analysis and Planning Financial Analysis and Planning is carried out for the purpose of obtaining material and relevant information

More information

Reliance Communication

Reliance Communication 3QFY214 Result Update Telecom February 11, 214 Reliance Communication Performance highlights (` cr) 3QFY14 2QFY14 % chg (qoq) 3QFY13 % chg (yoy) Net sales 5,43 5,394.2 5,31 1.9 EBITDA 1,845 1,887 (2.2)

More information

The Interpretation of Financial Statements. Why use ratio analysis. Limitations. Chapter 16

The Interpretation of Financial Statements. Why use ratio analysis. Limitations. Chapter 16 The Interpretation of Financial Statements Chapter 16 1 Luby & O Donoghue (2005) Why use ratio analysis Provides framework Comparison to previous years Trends identified Identify areas of concern Targets

More information

HCC BUY. Infrastructure January 29, 2016

HCC BUY. Infrastructure January 29, 2016 Jan-15 Mar-15 Apr-15 May-15 Jul-15 Aug-15 Sep-15 Nov-15 Dec-15 Jan-16 India Research Infrastructure January 29, 2016 QUARTERLY REVIEW Bloomberg: IN Reuters: HCNS.BO BUY Better margins drive earnings s

More information

www.pvpglobal.com SECTOR: REALTY REPORTING DATE: 31 ST MAY, 2016 PVP Ventures Ltd

www.pvpglobal.com SECTOR: REALTY REPORTING DATE: 31 ST MAY, 2016 PVP Ventures Ltd 31 st May, 2016 TABLE 1 MARKET DATA (STANDALONE) (As on 31 st May, 2016) NSE Code PVP NSE Market Price ( ) 4.50 NSE Market Cap. ( Cr.) 118.85 Sector Realty Face Value ( ) 10.00 Equity ( Cr.) 245.05 52

More information

Using Accounts to Interpret Performance

Using Accounts to Interpret Performance Using s to Interpret Performance ing information is used by stakeholders to judge the performance and efficiency of a business Different stakeholders will look for different things: STAKEHOLDER Shareholders

More information

FSA Note: Summary of Financial Ratio Calculations

FSA Note: Summary of Financial Ratio Calculations FSA Note: Summary of Financial Ratio Calculations This note contains a summary of the more common financial statement ratios. A few points should be noted: Calculations vary in practice; consistency and

More information

Company Overview. Industry Overview. Financial Performance

Company Overview. Industry Overview. Financial Performance Jan/15 Feb/15 Mar/15 Apr/15 May/15 Jun/15 Jul/15 Aug/15 Sep/15 Oct/15 Nov/15 Dec/15 Trident Limited CMP: 52.70 January 13, 2016 Stock Details BSE code 521064 BSE ID TRIDENT Face value ( ) 10 No of shares

More information

JLR Nov-15 wholesale up 24% YoY to 51,021 units

JLR Nov-15 wholesale up 24% YoY to 51,021 units BSE Sensex S&P CNX 25,036 7,613 9 December 2015 Update Sector: Automobiles Tata Motors CMP: INR394 TP: INR471 (+20%) Buy Stock Info Bloomberg TTMT IN Equity Shares (m) 3,395.9 M.Cap. (INR b)/(usd b) 1,338/20

More information

Unit II. Module III. Ratio Analysis. Practical Problems (With Solutions)

Unit II. Module III. Ratio Analysis. Practical Problems (With Solutions) Unit II Module III Ratio Analysis Practical Problems (With Solutions) Problem 1 The following Trading and Profit and Loss Account of Fantasy Ltd. for the year 31 3 2000 is given below: Particular Rs. Particular

More information

Zicom Electronic Security Systems 06 Jan., 09 112 531404 D 10 95 145 92

Zicom Electronic Security Systems 06 Jan., 09 112 531404 D 10 95 145 92 Stock Review of Techno Funda Research Product Early Signals Buy Early Signals Call Information Data Reco. Dt. Reco. Price Scrip Code Grade Face Value CMP Target Stop Loss Zicom Electronic Security Systems

More information

TYPES OF FINANCIAL RATIOS

TYPES OF FINANCIAL RATIOS TYPES OF FINANCIAL RATIOS In the previous articles we discussed how to invest in the stock market and unit trusts. When investing in the stock market an investor should have a clear understanding about

More information

Bharat Electronics (BHAELE)

Bharat Electronics (BHAELE) Company Update Rating Matrix Rating Matrix Rating : Buy Target : 1560 Target Period : 12-15 months Potential Upside : 24% What s changed? Target Unchanged at 1560 EPS FY17E Unchanged at 57.8 EPS FY18E

More information

Bharat Petroleum Corporation Ltd

Bharat Petroleum Corporation Ltd Bharat Petroleum Corporation Ltd Sector: Refineries/Petro-Products/PSU BSE/NSE: 500547/BPCL - EQ Index: BSE 100/Nifty 50 Meeting Type: Postal Ballot Announcement Date: 19 December 2011 Proxy Deadline:19

More information

Consolidated balance sheet

Consolidated balance sheet Consolidated balance sheet Non current assets 31/12/2009 31/12/2008 (*) 01/01/2008 (*) Property, plant and equipment 1,352 1,350 1,144 Investment property 7 11 11 Fixed assets held under concessions 13,089

More information

GAIL (India) Ltd. INR 346

GAIL (India) Ltd. INR 346 Feb-15 Apr-15 Jun-15 Aug-15 Oct-15 Dec-15 Feb-16 India Equity Institutional Research Oil & Gas RESULT UPDATE GAIL (India) Ltd. INR 346 Good performance; Near term outlook looks stable BUY GAIL reported

More information

MAITHAN ALLOYS LTD Result Update (PARENT BASIS): Q4 FY16

MAITHAN ALLOYS LTD Result Update (PARENT BASIS): Q4 FY16 Index Details MAITHAN ALLOYS LTD Result Update (PARENT BASIS): Q4 FY16 Stock Data Sector Iron & Steel/Interm. Products BSE Code 590078 Face Value 10.00 52wk. High / Low (Rs.) 313.80/72.25 Volume (2wk.

More information

EQLine Research and Services Pvt Ltd. yoy (%) 2QFY16 (27.0) 70,901 41.3 16.7 8,045 30.8. 531bp 7,290. 736bp 11.3 6,720 38.

EQLine Research and Services Pvt Ltd. yoy (%) 2QFY16 (27.0) 70,901 41.3 16.7 8,045 30.8. 531bp 7,290. 736bp 11.3 6,720 38. 3QFY216 Result Update Oil & Gas Reliance Industries ACCUMULATE Performance highlights CMP Target Price Consolidated (Rs cr) 3QFY16 3QFY15 yoy (%) 2QFY16 qoq% Net revenue 68,261 93,528 (27.) 7,91 (3.7)

More information

Results impacted by subdued demand

Results impacted by subdued demand India Equity Research Agri Input & Chemicals January 25, 2016 Result Update Coromandel International Results impacted by subdued demand Emkay Your success is our success CMP Target Price Rs165 Rs225 (

More information

Bharat Earth Movers (BEML)

Bharat Earth Movers (BEML) 2QFY2016 Result Update Capital Goods November 13, 2015 Bharat Earth Movers (BEML) Performance Highlights Quarterly highlights - Standalone Y/E March (` cr) 2QFY16 1QFY16 2QFY15 % chg (yoy) % chg (qoq)

More information

Financial/Accounting Analysis Ratios Excel Calculator

Financial/Accounting Analysis Ratios Excel Calculator User Guide Financial/Accounting Analysis Ratios Excel Calculator Dec 2008 Version 2 copyright 2008 Business Tools Templates Financial/Accounting Analysis Ratios Excel Calculator Financial Analysis Ratios

More information

CHAPTER 6. P.6.17 The following are the ratios relating to the activities of National Traders Ltd:

CHAPTER 6. P.6.17 The following are the ratios relating to the activities of National Traders Ltd: CHAPTER 6 Solved Problems P.6.17 The following are the ratios relating to the activities of National Traders Ltd: Debtors velocity (months) 3 Stock velocity (months) 8 Creditors velocity (months) 2 Gross

More information

Chapter-3 C FINANCIAL RATIO ANALYSIS. BSNL, India For Internal Circulation Only 1

Chapter-3 C FINANCIAL RATIO ANALYSIS. BSNL, India For Internal Circulation Only 1 Chapter-3 C FINANCIAL RATIO ANALYSIS BSNL, India For Internal Circulation Only 1 RATIO ANALYSIS FINANCIAL ANALYSIS is the process of identifying the financial strengths and weakness of the firm by properly

More information

Maruti Suzuki. Source: Company Data; PL Research

Maruti Suzuki. Source: Company Data; PL Research Q3 results subdued, Outlook remains good; BUY January 28, 2016 Rohan Korde rohankorde@plindia.com +91 22 66322235 Rating BUY Price Rs4,103 Target Price Rs4,844 Implied Upside 18.1% Sensex 24,470 Nifty

More information

Smruthi Organics Limited BSE Scrip Code: 590046

Smruthi Organics Limited BSE Scrip Code: 590046 Smruthi Organics Limited BSE Scrip Code: 590046 Pharmaceuticals September 21, 2012 Equity Statistics Current Market Price Rs. 218.1 52 Week High / Low Rs. 273.9 / 155 Market Capitalisation Rs. crores 83.2

More information

Reliance Industries. (CMP/TP: `732/1,006) (Buying Range: `732 to `747)

Reliance Industries. (CMP/TP: `732/1,006) (Buying Range: `732 to `747) (CMP/TP: `732/1,006) (Buying Range: `732 to `747) Core business margins to stabilise: RIL reported robust refining margins of US$10.2/bbl in 1HFY2012. However, during 3QFY2012, Singapore gross refining

More information

HCL Technologies BUY. Performance Highlights CMP. `857 Target Price `1,132. 1QFY2016 Result Update IT. 3-year price chart

HCL Technologies BUY. Performance Highlights CMP. `857 Target Price `1,132. 1QFY2016 Result Update IT. 3-year price chart 1QFY2016 Result Update IT October 21, 2015 HCL Technologies Performance Highlights (` cr) Consl. 1QFY16 4QFY15 % chg (qoq) 1QFY15 % chg (yoy) Net revenue 10,097 9,777 3.3 8,735 15.6 EBIT 1,979 1,976 0.2

More information

Navin Fluorine International

Navin Fluorine International RESULTS REVIEW 2QFY16 29 OCT 2015 Navin Fluorine International INDUSTRY CHEMICALS CMP (as on 29 Oct 2015) Rs 1,579 Target Price Rs 1,800 Nifty 8,112 Sensex 26,838 KEY STOCK DATA Bloomberg NFIL IN No. of

More information

Axis Bank. Strong core performance. Source: Company Data; PL Research

Axis Bank. Strong core performance. Source: Company Data; PL Research Strong core performance January 17, 2011 Abhijit Majumder abhijitmajumder@plindia.com +91 22 66322236 Umang Shah umangshah@plindia.com +91 22 66322242 Rating BUY Price Rs1,230 Target Price Rs1,600 Implied

More information

Reliance Industries. Refining business under pressure: RIL s GRM declined sharply. 31% YoY and 45% QoQ to Rs17bn.

Reliance Industries. Refining business under pressure: RIL s GRM declined sharply. 31% YoY and 45% QoQ to Rs17bn. Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Reliance Industries 21 January 2012 Reliance Industries Result Review Rating: Hold Current Price: Rs793 Target

More information

Chapter 17: Financial Statement Analysis

Chapter 17: Financial Statement Analysis FIN 301 Class Notes Chapter 17: Financial Statement Analysis INTRODUCTION Financial ratio: is a relationship between different accounting items that tells something about the firm s activities. Purpose

More information

Larsen & Toubro. Source: Company Data; PL Research

Larsen & Toubro. Source: Company Data; PL Research Order inflow surprise, challenges on profitability continues! January 29, 2016 Kunal Sheth kunalsheth@plindia.com +91 22 66322257 Samir Bendre samirbendre@plindia.com +91 22 66322256 Rating BUY Price Rs1,102

More information

www.3i infotech.com SECTOR: IT SOFTWARE REPORTING DATE: 31 ST MAY, 2016 3i Infotech Ltd.

www.3i infotech.com SECTOR: IT SOFTWARE REPORTING DATE: 31 ST MAY, 2016 3i Infotech Ltd. 3i Infotech Ltd. 31 st May, 2016 TABLE 1 MARKET DATA (STANDALONE) (As on 31 st May, 2016) NSE Code 3IINFOTECH NSE Market Price ( ) 3.85 NSE Market Cap. ( Cr.) 255.04 Sector IT Software Face Value ( ) 10.00

More information

DATRON AG. Investor day supports our positive view. Buy (Buy) 12.50 EUR (12.50 EUR ) BANKHAUS LAMPE // 1 17/09/2015

DATRON AG. Investor day supports our positive view. Buy (Buy) 12.50 EUR (12.50 EUR ) BANKHAUS LAMPE // 1 17/09/2015 BANKHAUS LAMPE // 1 DATRON AG Investor day supports our positive view 17/09/2015 Buy (Buy) 12.50 EUR (12.50 EUR ) Close 15/09/2015 9.75 EUR Bloomberg: DAR GY WKN: A0V9LA Sector Engineering Share price

More information

FY08 FY09 FY10 FY11E FY12E FY13E FY14E FY15E

FY08 FY09 FY10 FY11E FY12E FY13E FY14E FY15E XYZ Company Limited Date Valuation Report: DUMMY Executive Summary INDUSTRY: XX XYZ Company Limited (hereinafter referred to as XYZ or the company ) is a XX manufacturing company and markets its products

More information

UltraTech Cement Ltd.

UltraTech Cement Ltd. Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 October 31, 212 COMPANY RESULTS REPORT REVIEW UltraTech Cement Ltd. Rich valuation overlooks strong performance

More information

HOW TO READ FINANCIAL STATEMENTS IN FINLAND

HOW TO READ FINANCIAL STATEMENTS IN FINLAND HOW TO READ FINANCIAL STATEMENTS IN PROFIT AND LOSS ACCOUNT NET TURNOVER Variation in stocks of finished goods and work in progress Work performed by the undertaking for its own purpose and capitalised

More information

IFRS Financial Ratios.

IFRS Financial Ratios. 100 IFRS Financial Ratios Author s preface Dear readers, in order to make solid investments, investors compare companies within their peer group. For this purpose, key ratios such as EBIT, working capital

More information

Managerial Accounting Prof. Dr. Varadraj Bapat Department of School of Management Indian Institute of Technology, Bombay

Managerial Accounting Prof. Dr. Varadraj Bapat Department of School of Management Indian Institute of Technology, Bombay Managerial Accounting Prof. Dr. Varadraj Bapat Department of School of Management Indian Institute of Technology, Bombay Lecture - 18 Financial Statements Analysis Dabur India Case Dear students, in last

More information

ACCOUNTING FOR NON-ACCOUNTANTS

ACCOUNTING FOR NON-ACCOUNTANTS Deutsch and Chikarovski's ACCOUNTING FOR NON-ACCOUNTANTS A Question and Answer Handbook Robert Deutsch and Kris Chikarovski THE FEDERATION PRESS 2012 Preface - x Who is this book for? x What is in this

More information

Infotech Enterprises BUY

Infotech Enterprises BUY BUY Steady momentum Sector: Information Technology Sensex: 15,883 CMP (Rs): 116 Target price (Rs): 155 Upside (%): 33.6 52 Week h/l (Rs): 176 / 1 Market cap (Rscr) : 1,297 6m Avg vol ( Nos): 54 No of o/s

More information

Income Measurement and Profitability Analysis

Income Measurement and Profitability Analysis PROFITABILITY ANALYSIS The following financial statements for Spencer Company will be used to demonstrate the calculation of the various ratios in profitability analysis. Spencer Company Comparative Balance

More information

Butterfly Gandhimathi (GANAP) 188

Butterfly Gandhimathi (GANAP) 188 Result Update Rating matrix Rating : Buy Target : 240 Target Period : 12 months Potential Upside : 27% What s changed? Target EPS FY16E EPS FY17E Rating Quarterly performance Unchanged Unchanged Unchanged

More information

BUY. Lower realization impacts earnings CAIRN INDIA. Target Price: Rs 155. Analyst call highlights

BUY. Lower realization impacts earnings CAIRN INDIA. Target Price: Rs 155. Analyst call highlights 25 JAN 2016 Quarterly Update BUY Target Price: Rs 155 Lower realization impacts earnings Despite flat QoQ oil and gas production, Cairn s Q3FY16 PAT slumped to Rs 87mn (vs. Rs 6,727 bn in Q2FY16) due to

More information

FORM OF THE BALANCE SHEET

FORM OF THE BALANCE SHEET FORM OF THE BALANCE SHEET Balance sheet is prepared in one of two basic forms: horizontal or vertical. The vertical format is more popular now days.. The order of asset and liability may also vary. However,

More information

Software Testing Market India

Software Testing Market India Software Testing Market India July 2014 Executive Summary Market Software Testing market in India was valued at ~ INR xx bn in 20-- and is projected to grow at a CAGR of ~ x1% between 20--- and 20-- Over

More information

Dangote Flour Plc. Company Coverage Thursday, April 14, Target Price: NGN Investment Case. Company Description. Recommendation: BUY

Dangote Flour Plc. Company Coverage Thursday, April 14, Target Price: NGN Investment Case. Company Description. Recommendation: BUY Dangote Flour Plc Company Coverage Thursday, April 14, 2011 Investment Case We initiate coverage on Dangote Flour Plc and place a BUY recommendation for a time frame of 12 months. Our 12 month target price

More information

Financial ratios can be classified according to the information they provide. The following types of ratios frequently are used:

Financial ratios can be classified according to the information they provide. The following types of ratios frequently are used: Financial Ratios Financial ratios are useful indicators of a firm's performance and financial situation. Most ratios can be calculated from information provided by the financial statements. Financial ratios

More information

IFGL REFRACTORIES LTD. RESULT UPDATE PRESENTATION, February 2016

IFGL REFRACTORIES LTD. RESULT UPDATE PRESENTATION, February 2016 IFGL REFRACTORIES LTD RESULT UPDATE PRESENTATION, February 2016 Safe Harbor This presentation and the accompanying slides (the Presentation ), has been prepared by IFGL Refractories Limited (the Company

More information

Just Dial Ltd Bloomberg Code: JUST IN

Just Dial Ltd Bloomberg Code: JUST IN Communications - Internet Media Oct 14, 215 Bloomberg Code: JUST IN India Research - Stock Broking India s local search engine, warming up with add-on services Just Dial is now into a platform where people

More information

Discussion Board Articles Ratio Analysis

Discussion Board Articles Ratio Analysis Excellence in Financial Management Discussion Board Articles Ratio Analysis Written by: Matt H. Evans, CPA, CMA, CFM All articles can be viewed on the internet at www.exinfm.com/board Ratio Analysis Cash

More information

Bharat Petroleum Corporation Ltd. (BPCL)

Bharat Petroleum Corporation Ltd. (BPCL) Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 COMPANY RESULTS REPORT REVIEW Nifty: 8,296; Sensex: 26,819 November 15, 2016 Bharat Petroleum

More information

Orchid Chemicals NEUTRAL. Performance Highlights. Target Price - 1QFY2011 Result Update Pharmaceutical. Investment Period -

Orchid Chemicals NEUTRAL. Performance Highlights. Target Price - 1QFY2011 Result Update Pharmaceutical. Investment Period - 1QFY211 Result Update Pharmaceutical July 21, 21 Orchid Chemicals Performance Highlights Y/E March (Rs cr) 1QFY211 4QFY21 %chg (qoq) 1QFY21 %chg (yoy) Net Sales 34 286 6.3 36 (.7) Other Operating Income

More information