KIFS Result update of Sesa Goa-3IINFO-KPIT-Rallis-CCI

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KIFS Result update of:

SESA GOA

OVERVIEW

Sesa Goa is engaged in iron ore mining and has diversified into manufacture of pig iron and metallurgical coke. The company exported 89% of its production in FY11; of this, exports to China were 77%. In 2010, iron ore imports by China declined by 1.5% y‐o‐y due to a 21.7% y‐o‐y increase in Chinese iron ore production. Any decline in iron ore imports or steel production in China could adversely impact SESA’s exports. The company has initiated work for widening the mine to jetty routes in Goa, railway siding in Karnataka and setting up of dedicated road corridors for movement of iron ore traffic. This is likely to support the expanded mining capacity.

Key highlights:

· Total income fell by 11% Y-o-Y to Rs. 1698 cr. v/s Rs. 1917 cr in June-10

· Operating Profit fell by 13% Y-o-Y to Rs. 1047 cr.  v/s Rs. 1204 cr in June-10

· OPM fell by 173 bps Y-o-Y to 61.08%  v/s 62.8% in June-10

· Net profit fell by 34% Y-o-Y to Rs. 673 cr.  v/s Rs. 1026 cr in June-10

· NPM fell by 1424 bps Y-o-Y to 39.25%  v/s 53.49% in June-10

· Interest cost grew by 263% to Rs 49 cr. v/s Rs 14 cr. In June-10.

 3I INFOTECH

OVERVIEW

3i Infotech provides IT solutions  to various market segments such as banking, insurance, manufacturing, contracting, retail and distribution and government. The company is promoted by ICICI Bank, which is India’s largest private sector bank. The company is hoping that the Government, along with its main stay BFSI sector, will pull it out of its difficult times and reduce the debt-to-equity ratio to 1.1 by March 31, 2012. The company is also hoping 40-50% of its revenue will come from Government spending in FY12.

Key highlights:

· Total income grew by 32% Y-o-Y to Rs. 170 cr. v/s Rs. 128 cr in June-10

· Operating Profit grew by 3% Y-o-Y to Rs. 68 cr.  v/s Rs. 66 cr in June-10

· OPM fell by 1137 bps Y-o-Y to 39.7% v/s 51.1% in June-10

· Net profit grew by 20% Y-o-Y to Rs. 25 cr.  v/s Rs. 21 cr in June-10

· NPM fell by 153 bps Y-o-Y to 14.7%  v/s 16.3% in June-10

· Interest grew 47% Y-o-Y to Rs. 39 cr.  v/s Rs. 27 cr in June-10

KPIT CUMMINS

OVERVIEW

KPIT Cummins is focused on co-innovating domain intensive technology solutions for manufacturing corporations and Diversified Financial Services to help its customers become more efficient, integrated and innovative enterprises. KPIT Cummins Infosystems (KPIT) has acquired 50% stake in Systime Global Solutions (Systime), the world’s largest JD Edwards (JDE) solution provider, for a consideration of Rs 103cr (all cash deal). The company has vertical mix in which revenue come from manufacturing and BFSI industry constitute almost 92% but with the help of this deal the company will expand its vertical mix to health care, energy and CPG.

Key highlights:

· Total income  grew by 42% Y-o-Y to Rs. 150 cr. v/s Rs. 106 cr in June-10

· Operating Profit grew by 99% Y-o-Y to Rs. 33 cr.  v/s Rs. 17 cr in June-10

· OPM grew by 635 bps Y-o-Y to 22.06%  v/s 15.71% in June-10

· Net profit grew by 198% Y-o-Y to Rs. 19 cr.  v/s Rs. 6 cr in June-10

· NPM grew by 669 bps Y-o-Y to 12.78%  v/s 6.09% in June-10

RALLIS INDIA

OVERVIEW

Rallis India mainly deals in Agri Business and has emerged as one of the leaders in the Indian Agrochemical Industry. The company is also in the Institutional business providing technical and bulk of various molecules to leading companies like Bayer, Syngenta etc. Apart from this the company is having significant presence in International Business and Contract Manufacturing. Rallis had acquired Metahelix, an agro-biotech company focusing on developing technologies for crop improvement, in December last year.

Key highlights:

· Total income  grew by 16% Y-o-Y to Rs. 1796 cr. v/s Rs. 1553 cr in June-10

· Operating Profit grew by 28% Y-o-Y to Rs. 269 cr.  v/s Rs. 210 cr in June-10

· OPM grew by 144 bps Y-o-Y to 14.9 %  v/s 13.5% in June-10

· Net profit grew by 31% Y-o-Y to Rs. 159 cr.  v/s Rs. 121 cr in June-10

· NPM grew by 105 bps Y-o-Y to 8.87%  v/s 7.82 % in June-10

CONTAINER CORPORATION OF INDIA

OVERVIEW

Container Corporation of India popularly known as CONCOR, is engaged in the business of transportation through containerization. The company is the market leader that has the largest network of 58 ICDs/CFSs in India. CONCOR also provides services such as cover management of Ports, air cargo complexes and establishing cold-chain and for International & Domestic containerization and trade in India the company has built-up multimodal logistics support.

Key highlights:

· Total income grew by 4% Y-o-Y to Rs. 949 cr  v/s Rs. 916 cr in June-10

· Operating Profit grew by 13% Y-o-Y to Rs. 319 cr. v/s Rs. 283 cr. in    Jun-10

· OPM grew by 268 bps   Y-o-Y to 35.56 % v/s 30.88 % in June-10

· Net profit grew by 21% Y-o-Y to Rs. 234 cr.  v/s Rs. 194 cr. in June-10

· NPM grew by 354 bps   Y-o-Y to 24.67 %  v/s 21.13 % in June-10