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Thursday, October 23, 2008

Quarterly Results Analysis - Titan - Texmaco - Uniphos

Many companies are reporting disappointing results in the September quarter. Most of the Companies are announcing dent in net profit despite increase in sales. Companies are finding it difficult to find funding sources. Still some Companies are announcing very good results and as an investor, you should concentrate on them.

Indian stock markets will see another bear market rally in this week. Book profits on every rally. Accumulate great Companies who can face upcoming drastic slow down in consumption. Banking sector is looking good if NPAs will not rise.

Quarterly results analysis:

1. Titan Industries: Wonderful results. Company reported 88% rise in net profit while sales grew by 53%. Accumulate this Rakesh Jhunjhunwala favourite.

CMP: 849.


2. Sanghvi Movers: Bumper results. This crane company announced 67% increase in sales while net profit rose by 72%.

CMP: 126.

3. Texmaco: Sales rose by 24% while profits increased by 59%. Positive surprise.

4. United Phosphorus: Good results. Company net profit of Rs 68.80 in this quarter Vs net loss of Rs 4.25 crore. Sales increased by 75%. Keep it up but valuations are concern.

CMP: 189; P/E: 32

5. Cera Sanitary ware: Sales increased by 40% while net profit rose by 76%. But Hindustan Sanitary ware announced poor results.

6. IL&FS Investment Managers: Positive surprise. Company announced 44% increase in net profit.

7. Idea Cellular, KPIT Cummins and Rolta India announced disappointing results. Rolta suffered due to increase in staff costs.

8. MIC Electronics: Negative surprise. Stagnant sales. Serious concern. 138% increase in net profit is not due to sales but due to decrease in expenditure.

9. Decent results: Ingersoll-Rand (India), KRBL, Mind Tree, Provogue India, Shree Cement, Granules India, EMCO, Kale Consultants, MM Forgings, Canara Bank, GS Auto International, Geometric Software and Voltamp Transformers.

10. Poor results: Indian hotels, Petronet LNG, GIC Housing Finance, Upper Ganges Sugar, Sterlite Technologies, TRF, Mangalam Cement, Patel Engineering, Kewal Kiran Clothing, Aarti Drugs and KCP Cement.

11. Worst results: MRO-TEK, Grind well Norton, Alembic, HT Media, Subros, KJ Lakshmi Cement, Nucleus Software, Aztec Soft and Shree Digvijay Cement.

Recession news:

1. China: China GDP growth rate fell to 9.9% for the first 9 months and it is 2.3% lower than the last year. This is the third successive growth fall in China but still very high on global standards.

2. Korea: LG Electronics reported 92.7% drop in net profit despite 27% rise in sales due to weak South Korean currency.

3. Japan: Economy has deteriorated and could worsen further because of growing pressure from the global credit crisis and slowing exports- Japan Government.

4. England: Public borrowings are at highest level since records began in1946 while mortgage lending in U.K fell by 46%. Public finances slumped to record deficit of 38 billion pounds. Business confidence fell to record lows in Britain.

5. USA: Yahoo is planning to cut around 2,000 jobs to improve efficiency and trim costs.

6. Recession will have serious implications- Amartya Sen.

7. India: Tata Motors lay off 6% of temporary employees due to economic slowdown. TCS announced free on promotions. Tata Motors rights issue failed to attract interest.

Must read:

1. Can our leaders have the ability to escape us from 1930s like depression?

Source: Stock Market Guide

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