June, 2007 | Dalal Street

IPCL Net Profit Declines

June 30, 20071 min read

Net profit of Indian Petrochemicals Corporation declined 92.77% to Rs 18.00 crore in the quarter ended March 2007 as against Rs 249.00 crore during the previous quarter ended March 2006. Sales rose 30.85% to Rs 3007.00 crore in the quarter ended March 2007 as against Rs 2298.00 crore during the previous quarter ended March 2006.

For the full year, net profit declined 11.34% to Rs 1032.00 crore in the year ended March 2007 as against Rs 1164.00 crore during the previous year ended March 2006. Sales rose 11.05% to Rs 12129.00 crore in the year ended March 2007 as against Rs 10922.00 crore during the previous year ended March 2006. IPCL is managed by RIL Chairman Mukesh Ambani.

Breaking Corporate India Earnings News

Trent + Kalyani Forge

June 30, 20071 min read

Net profit of Trent rose 1.72% to Rs 7.10 crore in the quarter ended March 2007 as against Rs 6.98 crore during the previous quarter ended March 2006. Sales rose 19.79% to Rs 108.57 crore in the quarter ended March 2007 as against Rs 90.63 crore during the previous quarter ended March 2006.

For the full year, net profit rose 32.94% to Rs 32.41 crore in the year ended March 2007 as against Rs 24.38 crore during the previous year ended March 2006. Sales rose 31.56% to Rs 455.78 crore in the year ended March 2007 as against Rs 346.44 crore during the previous ear ended March 2006. Does this mean the slowing down of Retail Sales in India ?

Net profit of Kalyani Forge rose 101.10% to Rs 3.66 crore in the quarter ended March 2007 as against Rs 1.82 crore during the previous quarter ended March 2006. Sales rose 40.48% to Rs 51.05 crore in the quarter ended March 2007 as against Rs 36.34 crore during the previous quarter ended March 2006.

For the full year, net profit rose 6.87% to Rs 11.05 crore in the year ended March 2007 as against Rs 10.34 crore during the previous year ended March 2006. Sales rose 23.40% to Rs 182.72 crore in the year ended March 2007 as against Rs 148.07 crore during the previous year ended March 2006.

Mutual Funds Review

Reliance Equity Advantage Fund – Avoid

June 29, 20071 min read

Retail Value Investors should avoid the NFO of Reliance Equity Advantage Fund. In quest to become the number one fund house in India and encashing on the the ignorance of Indian retail investors, Reliance Mutual Fund is launching a fund every month which is totally unnecessary.

Reliance Equity Advantage Fund is a Index Fund which will invest 80% in Nifty stocks and the balance 20% in other equities which the fund manager deems fit. Avoid the NFO.

Retail value investors should stick to value investing by means of Systematic Investment Plan.

Economy, Markets and Macro Views

Aurobindo Pharma net profit rises 108.13%

June 29, 20071 min read

Net profit of Aurobindo Pharma rose 108.13% to Rs 78.11 crore in the quarter ended March 2007 as against Rs 37.53 crore during the previous quarter ended March 2006. Sales rose 15.06% to Rs 532.76 crore in the quarter ended March 2007 as against Rs 463.04 crore during the previous quarter ended March 2006.

For the full year, net profit rose 230.23% to Rs 229.08 crore in the year ended March 2007 as against Rs 69.37 crore during the previous year ended March 2006. Sales rose 34.47% to Rs 1979.72 crore in the year ended March 2007 as against Rs 1472.20 crore during the previous year ended March 2006.

Breaking Corporate India Earnings News

Unity Infraprojects + Cranes Software + Lumax Auto

June 29, 20072 min read

Net profit of Unity Infraprojects rose 36.03% to Rs 11.25 crore in the quarter ended March 2007 as against Rs 8.27 crore during the previous quarter ended March 2006. Sales rose 68.52% to Rs 179.09 crore in the quarter ended March 2007 as against Rs 106.27 crore during the previous quarter ended March 2006.

For the full year, net profit rose 72.27% to Rs 42.31 crore in the year ended March 2007 as against Rs 24.56 crore during the previous year ended March 2006. Sales rose 65.13% to Rs 542.86 crore in the year ended March 2007 as against Rs 328.74 crore during the previous year ended March 2006.

Net profit of Cranes Software International rose 20.01% to Rs 25.37 crore in the quarter ended March 2007 as against Rs 21.14 crore during the previous quarter ended March 2006.Sales declined 9.08% to Rs 54.75 crore in the quarter ended March 2007 as against Rs 60.22 crore during the previous quarter ended March 2006.

For the full year,net profit rose 46.42% to Rs 92.89 crore in the year ended March 2007 as against Rs 63.44 crore during the previous year ended March 2006.Sales rose 31.82% to Rs 246.53 crore in the year ended March 2007 as against Rs 187.02 crore during the previous year ended March 2006.

Net profit of Lumax Auto Technologies rose 320.00% to Rs 0.63 crore in the quarter ended March 2007 as against Rs 0.15 crore during the previous quarter ended March 2006.Sales rose 235.91% to Rs 51.73 crore in the quarter ended March 2007 as against Rs 15.40 crore during the previous quarter ended March 2006.

For the full year,net profit rose 2.61% to Rs 2.75 crore in the year ended March 2007 as against Rs 2.68 crore during the previous year ended March 2006.Sales rose 70.02% to Rs 160.35 crore in the year ended March 2007 as against Rs 94.31 crore during the previous year ended March 2006.

Equity Research

Buy Tata Steel – Motilal Oswal

June 29, 20071 min read

Motillal Oswal in particularly thorough research report has put a BUY recommendation on Tata Corus Steel with a price target of Rs 739.

They expect consolidated earnings to grow at a CAGR of 26% during FY07-09, driven by overall volume growth and margin expansion in Corus. One year target price of Rs739 is based on EV/EBITDA of 5x FY09E.

Tata Steel is expected to report a fully diluted EPS of Rs 91.9 and Rs 110.9 for FY08 and FY09. You can download the report here.

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