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Wednesday, October 29, 2008

Results Analysis - Nitin Fire Protection - Kaveri Seed - UTV Software Com - Pratibha industries - Ankur Drugs - TV Today - NMDC - GLENMARK Pharma - ICICI Bank

Q2 results analysis:
1. Nitin Fire Protection: Bumper results. This niche company announced 157% increase in sales and 98% rise in net profit. Nitin Fire is a must have stock in every "growth portfolio".

CMP: 130; P/E: 15.7; Book value: 75.

2. Kaveri Seed Company: Believe in agriculture. Hybrid Seed Company reported 32% rise in sales and 71% increase in net profit. Other seed companies are also announcing good results.

3. UTV Software Communications:

Bumper results and a turnaround story. Company announced 81% increase in sales and a net profit of 4 crore Vs a loss of 2.8 crore. Very high valuations are a big concern.

4. Pratibha Industries: Positive surprise. Company reported 171% increase in sales and 57% rise in net profit. Keep a close eye on this scrip.

5. Ankur Drugs: Excellent results. More than 140% increase in both sales and net profit.

6. TV Today Network: Excellent performance from this media house. It outperformed other media houses with a sterling performance. Company announced 40% rise in both net profit and sales.

7. NMDC: Good Results. Mining PSU announced 46% rise in both sales and net profit. Cash rich Sesa Goa outperformed but high Government stake is a NMDC advantage.

8. Creative Eye: Television software and mythological serial maker announced excellent results. Company reported 187% increase in sales while net profit rose by 195%.

9. Glenmark Pharma: Unbelievable negative surprise. This Pharma Company which is growing on steroids suddenly reported negative growth in sales. Glenmark will make new lows until next quarter.

10. ICICI Bank: Next 2 quarters are very crucial for this bank which will face increase in NPAs along with decrease in credit growth.

11. Solar Explosives:

Good results. This niche company announced 183% rise in sales and 24% increase in net profit. High valuations are a concern.

CMP: 322; P/E: 26

Decent results:

FDC, MSK Projects, Indraprastha Gas, Timken, Nagarjuna Construction, Allied Digital Services, Kajaria Ceramics, Bhushan Steel, Genus Power, Eveready Industries, Gitanjali Gems and Electrotherm.

Poor results:

Karuturi Global, Videocon, Valecha Engineering, Godrej Industries, RSWM, Indus Fila, Tata Communications, Bhagyanagar India, Mahindra Forgings, D-Link (India), Savita Chemicals, Rico Auto, Nerolac Paints, Tata Tele Services, MRPL, Tayo Rolls, Blue Star, Radha Madhav Corporation, JK Cement, Amtek India, Global Vectra, Nelcast, Apar Industries, NRB Bearings, R Systems International, Amtek Auto, Cinemax India, Lumax Automotives and Mahindra and Mahindra Financial Services.

"Can we enter/exit a Company just by basing on one quarter results?"

Answer: One quarter results will never give a complete idea about future performance of a Company. But they will give some idea about creeping problems in the Company and relative performance with peers. Just compare Larsen, BHEL, Punj Lloyd and Crompton Greeves. Current Q2 results give some idea on how Companies are performing high interest rates atmosphere. But some sectors like IT, Real Estate and some commodity stocks will underperform in the next 2 quarters. As we don't know much about how Companies will perform in Q3, it is better to depend on Q2 results and guidance. Stock investments depend on sector, results, growth plans, valuations and cash-debt position.

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