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European shares recorded biggest weekly gain since 2008

admin — Tue, 06 Dec 2011 03:13:05 +0000

The US equity markets were off from days high on Friday, but jumped nearly 7-8% last week – most since March 2009, after 5% decline in earlier week.

CBOE VIX ended up 0.4% at 27.5 – the lowest level in a month. It was down 20% for week while rallied 55% YTD
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European shares recorded biggest weekly gain since 2008: CAC was up 1.12%, DAX up 0.74% and FTSE up 1.15%.

The NASDAQ Composite closed flat at 2,627, after coming off 33 points from day’s high of 2,660. It gained 7.6% for week while lost 1% YTD.
The S&P 500 Index ended flat at 1,244, after slipping 16 points from day’s high of 1,260. It was up 7.4% for week while declined 1% YTD.

US stock index has rebounded more than 13% from its 2011 low on October 3.
The Dow Jones Industrial Average ended flat at 12,019, after slipping 127 from day’s high of 12,146 on Friday. It was up 7% for week and up 3.8% YTD.

Marico first quarter results for financial year

admin — Mon, 08 Aug 2011 14:33:06 +0000

Marico Limited has announced its first quarter results for financial year 2011-2012 (1QFY12).

Marico is one of India’s leading Consumer Products & Services companies in the global beauty and wellness space. From its foundations, Marico has worked outside the box, to bring innovation to its customers through the careful creation of continuous and sustainable change.

Today, 1 out of 4 Indians uses a Marico product. From cooking oil with ‘LoSorb Technology’, to rice that keeps you active, personalised skinscription services and hair oil that comes with a battery-powered head massager, Marico believes that it pays to think differently. At our offices, everyone is a member, not an employee. We have a flat organisational structure, with just five levels between the Managing Director and the shop floor operator. We believe in transforming the lives of all stakeholders be it our suppliers, farmers, distributors or shareholders by helping them maximise their true potential and it truly articulates the true Mariconian spirit – to be more. Every day.

Marico is present in more than 25 countries across Asia and the African continent. The company recorded a turnover of Rs. 31.3 billion (~USD 695 Million) in 2010-11. Our vast portfolio of enduring brands such as Parachute Advansed, Saffola, Hair & Care, Nihar, Mediker, Revive and Manjal are leading household names today.

Sales surged by 33% YoY led by a 21% volume growth in its consumer care business.
Soaring commodity prices, shaved off 150 basis points from the operating (EBITDA) margin during the quarter. The raw material cost to sales ratio increased by 207 basis points YoY to 51.4%.
Net profit grew by a relatively slower 15% YoY due to a steep rise of over 30% YoY in each of the interest, depreciation and tax expenses. The effective tax rate in 1QFY12 rose to 20% from 18% in the year-ago quarter. Backed by two folds jump in other income, net profit margin was down by 126 basis points to 8%.

Siemens third quarter results of financial year 2010-2011

admin — Mon, 08 Aug 2011 14:28:16 +0000

Sales grow by 24.3% YoY in 3QFY11 (September ending fiscal).
Operating margins decline to 9.0% in 3QFY11 on account of rise in overall expenditure as a percentage of sales.
Bottom line declined 0.9% YoY due to higher depreciation expenses and modest operating performance during the quarter. Other income (profit on sale of subsidiaries) supported profitability in 3QFY11.
Adjusting for these exceptional gains, profits declined 2.2% YoY.
As of 30 June 2011, the unexecuted order back log of the company stood at Rs 149.6 bn. During the quarter, the company registered an order inflow of Rs 22.8 bn.

ACC Q2CY11 consolidated net sales

admin — Fri, 05 Aug 2011 03:39:06 +0000

ACC Limited is India’s foremost cement manufacturer with a countrywide network of factories and marketing offices. Established in 1936, ACC has been a pioneer and trend-setter in cement and concrete technology. Among the first companies in India to include commitment to environment protection as a corporate objective, ACC has won accolades for environment friendly measures taken at its plants and mines, and has also been felicitated for its acts of good corporate citizenship. ACC is the most preferred cement brand name in India.

ACC Q2CY11 (YoY) consolidated net sales stood up 17% at Rs 2539 crore vs Rs 2167 crore, EBITDA was flat at Rs 547.5 crore vs Rs 551 crore, EBITDA margins stood at 21.6% vs 25.5% and PAT was down 6% at Rs 328 crore vs Rs 349.5 crore. Total expenditure stood up 23% at Rs 2116 crore vs Rs 1721 crore. Other income was up 2.5x at Rs 46 crore vs Rs 18 crore.

On QoQ basis, its Q2CY11 consolidated net sales were flat at Rs 2539 crore vs Rs 2556 crore, EBITDA was down 2% at Rs 547.5 crore vs Rs 558 crore, EBITDA margins stood at 21.6% vs 22% and PAT was down 6% at Rs 328 crore vs Rs 350 crore.

Steel Authority of India fall in net profits for the quarter ended June 2011

admin — Tue, 02 Aug 2011 16:29:14 +0000

Steel Authority of India Limited (SAIL) is the leading steel-making company in India. It is a fully integrated iron and steel maker, producing both basic and special steels for domestic construction, engineering, power, railway, automotive and defence industries and for sale in export markets. SAIL is also among the five Maharatnas of the country’s Central Public Sector Enterprises.

SAIL’s wide range of long and flat steel products are much in demand in the domestic as well as the international market. This vital responsibility is carried out by SAIL’s own Central Marketing Organisation (CMO) that transacts business through its network of 37 Branch Sales Offices spread across the four regions

Led by strong volumes growth, topline grows by 19.6% YoY during the quarter.
Operating profits decline by 28.8% mainly due to high raw material cost, especially, high coking coal prices.
At the bottomline level, profits for the quarter declined by 28.8% YoY, mainly on account of poor operating performance.

ACC 1st Quarter FY12 Results

admin — Tue, 02 Aug 2011 16:25:31 +0000

ACC Limited is India’s foremost manufacturer of cement and ready mix concrete with a countrywide network of factories and marketing offices.Established in 1936, ACC has been a pioneer and trend-setter in cement and concrete technology. ACC’s brand name is synonymous with cement and enjoys a high level of equity in the Indian market. It is the only cement company that figures in the list of Consumer SuperBrands of India. Among the first companies in India to include commitment to environment protection as a corporate objective, ACC has won several prizes and accolades for environment friendly measures taken at its plants and mines. The company has also been felicitated for its acts of good corporate citizenship.

On a standalone basis, net sales increase by 19% YoY led by higher sales volume.
Rising input costs lead operating profits to decline marginally by 0.5% YoY.
Higher interest and depreciation costs further lead the bottomline to drop by 6% YoY.

Essel Propack 1QFY12 Financial Results

admin — Mon, 01 Aug 2011 14:33:24 +0000

Essel Propack, part of the USD 2.4 billion Essel Group with turnover of over USD 300 million, is the largest specialty packaging company – manufacturing laminated and seamless or extruded plastic tubes. With over 2200 people representing 19 different nationalities, Essel Propack functions through 23 state of the art facilities in twelve countries, selling 4.5 billion tubes and continuing to grow every year.

Holding a market share of 33% in the laminated tubes domain, Essel Propack leads as the world’s largest manufacturer with units operating across countries such as USA, Mexico, Colombia, United Kingdom, Poland, Germany, Egypt, Russia, China, Philippines, Indonesia and India. These facilities cater to diverse packaging needs of consumers and include oral care, cosmetics, personal care, pharmaceutical, food and industrial sectors, by offering customized solutions.

Consolidated revenues for Essel Propack grew by 8.4% YoY during the quarter.
Operating margins declined marginally to 16% as compared to the 16.9% seen during the same period last year. This was due to higher input costs which offset the savings in the employee costs (as a percentage of sales).
Net profit increased by 8.5% YoY during the quarter. This was due to lower forex losses during the quarter.

us stock market | us share markets | us markets today

admin — Wed, 20 Jul 2011 15:46:30 +0000

Global Markets Snapshot: US markets gained after Barack Obama and Timothy Geithner allays fears on US debt rating. European shares ended higher ahead of crucial meeting of political leaders today. Asian stocks rose.

Global markets gained after Barack Obama and Timothy Geithner allays fears on US debt rating. US President Barack Obama indicated a bipartisan group of six Senators (popularly known as gang of six) has agreed to a plan that features tough spending cuts and a revenue component, to tame annual USD 1.4 trillion budget deficits. Barack Obama and Congress face a fast-approaching August 2 deadline for raising the USD 14.3 trillion limit on US borrowing authority.

The Dow Jones Industrial Average ended up 202 points at 12,587. NASDAQ Composite was up 61 points at 2,826 and S&P 500 Index jumped 21 points at 1,327.

US Advancing Sectors: Tech went up 2.7%, Consumer Discretionary rose 2%, Energy gained 1.7%, Consumer Staples rallied 1.5%, Financials gained 1.4% and Materials rose 1.4%.

European shares ended higher ahead of crucial meeting of political leaders today; CAC was up 1.2%, DAX up 1.18% and FTSE up 0.65%.

Asian stocks rose on optimism that US lawmakers will reach an agreement to cut the budget deficit; Nikkei was up 1.3%. Hang Seng and Shanghai were up 0.4%.

Redington block deal

admin — Wed, 20 Jul 2011 15:43:39 +0000

A block deal of 2.5% equity of Redington India took place at Rs 91.15 per share in yesterday’s trade. T Rowe Price sold 97.8 lakh shares while SBI MF bought 1 crore shares. A block deal of 12% equity took place on July 4 at Rs 91.9 per share.

Redington India promoters Chanrai Investment Corp sold 8% stake, strategic investor sold 4% of 27.71%, Standard Chartered PE bought 9.9% stake. Standard Chartered PE stake in the company is now at 12%. ECL Finance bought 2.1% stake.

The promoters were holding 28.89% stake in the company as of March 31st, which should reduce to 20.89%. Company has always been a management-run company and to reiterate this philosophy the two major shareholders have brought down their respective holdings to below 26%.

StanChart holding of close to 12% may result in it getting a board seat. Currently there are 10 members on the board of Redington India.

Crompton Greaves Q1FY12 Results

admin — Wed, 20 Jul 2011 15:40:28 +0000

Crompton Greaves has posted disappointing results in the first quarter of FY12. Its Q1FY12 (YoY) consolidated total income stood up 6% at Rs 2438 crore vs Rs 2302 crore. However, it was below CNBC-TV18 estimate of Rs 2580 crore. PAT stood down 58% at Rs 79 crore vs Rs 191 crore (CNBC-TV18 estimate at Rs 209 crore). Expenditure stood up 13% at Rs 2317 crore vs Rs 2046 crore. EBITDA stood down 39% at Rs 182 crore vs Rs 297 crore (CNBC-TV18 estimate at Rs 312 crore). OPM stood at 7.46% vs 12.91% (CNBC-TV18 estimate at 12.08%).

Consumption of raw material stood up 35% at Rs 1610 crore. Employee costs stood up 7.6% at Rs 322 crore. Depreciation stood up 46% at Rs 61 crore.

Revenues from power systems segment stood up 4% at Rs 1517 crore, however, EBIT was down 74% at Rs 40 crore. Consumer segment revenue stood up 2% at Rs 544 crore, however, EBIT stood down 6% at Rs 75 crore. Industrial segment revenue stood up 18% at Rs 380 crore, however, EBIT stood down 15% at Rs 51 crore.