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Prakash Industries
Prakash Industries reported its 2QFY2012 results. The company's net sales
grew by 9.0% yoy to `459cr mainly on account of increased product prices.
However, operating expenses increased by 14.8% yoy to `398cr mainly
because of higher raw-material expenses, which grew by 17.8% yoy to `98cr
on the back of increased input costs. Consequently, EBITDA margin slipped by
869bp yoy to 38.7% and EBITDA decreased by 10.9% yoy to `178cr. Financial
expenses grew by 573.0% yoy to `2cr. Hence, net profit decreased by 22.7%
yoy to `55cr in 2QFY2012. We maintain our Buy rating on the stock while we
keep out target price under review.
Relaxo
Relaxo reported a disappointing set of numbers for 2QFY2012. The company’s
top line dipped by 7.2% qoq to `200.5cr; while registered growth of 10% on a yoy
basis. Expenditure on raw-material and employees increased on a yoy basis. OPM
for the quarter contracted by 294bp qoq and 257bp yoy to 8.4%. PAT for the
quarter declined by 52% to `4.3cr as compared to `9cr in 2QFY2011 (declined by
60% qoq). We recommend Neutral on the stock.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Prakash Industries
Prakash Industries reported its 2QFY2012 results. The company's net sales
grew by 9.0% yoy to `459cr mainly on account of increased product prices.
However, operating expenses increased by 14.8% yoy to `398cr mainly
because of higher raw-material expenses, which grew by 17.8% yoy to `98cr
on the back of increased input costs. Consequently, EBITDA margin slipped by
869bp yoy to 38.7% and EBITDA decreased by 10.9% yoy to `178cr. Financial
expenses grew by 573.0% yoy to `2cr. Hence, net profit decreased by 22.7%
yoy to `55cr in 2QFY2012. We maintain our Buy rating on the stock while we
keep out target price under review.
Relaxo
Relaxo reported a disappointing set of numbers for 2QFY2012. The company’s
top line dipped by 7.2% qoq to `200.5cr; while registered growth of 10% on a yoy
basis. Expenditure on raw-material and employees increased on a yoy basis. OPM
for the quarter contracted by 294bp qoq and 257bp yoy to 8.4%. PAT for the
quarter declined by 52% to `4.3cr as compared to `9cr in 2QFY2011 (declined by
60% qoq). We recommend Neutral on the stock.
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