Aurobindo Pharma net profit rises 108.13%

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.

Unity Infraprojects + Cranes Software + Lumax Auto

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.

Buy Tata Steel – Motilal Oswal

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.

Citi puts a BUY on United Phosphorous

Citigroup has put a BUY on United Phosphorous Limited [UPL] with a target price of Rs 380. UPL’s acquisition of 2 brands from Dupont is another step to augment its product basket by inorganic means.

UPL is the only Indian play on the global crop protection market, with around 80% of
revenue coming from global markets. Citi forecast FY07-10E revenue and net profit CAGRs of 21% and 35%, respectively. Citi believes that P/E vs. earnings CAGR or EV/EBIDTA vs. EBIDTA CAGR is the correct metrics to value companies such as UPL.

Citi expects UPL to report an EPS of Rs 19.31 and 28.77 for for 2008 and 2009. Target price of Rs380 is based of average of FY08Eand FY09E FD EPS estimates.

Gitanjali Gems + Fortis Healthcare + Himatsingka Seide

Net profit of Gitanjali Gems rose 24.16% to Rs 13.72 crore in the quarter ended March 2007 as against Rs 11.05 crore during the previous quarter ended March 2006. Sales rose 40.97% to Rs 673.04 crore in the quarter ended March 2007 as against Rs 477.42 crore during the previous quarter ended March 2006.

For the full year, net profit rose 71.34% to Rs 81.90 crore in the year ended March 2007 as against Rs 47.80 crore during the previous year ended March 2006. Sales rose 36.89% to Rs 2219.26 crore in the year ended March 2007 as against Rs 1621.24 crore during the previous year ended March 2006.

Fortis Healthcare reported net loss of Rs 48.69 crore in the year ended March 2007 as against net loss of Rs 27.95 crore during the prevous year ended March 2006. Sales rose 25.88% to Rs 123.02 crore in the year ended March 2007 as against Rs 97.73 crore duriing the previous year ended March 2006.

Net profit of Himatsingka Seide declined 24.77% to Rs 8.90 crore in the quarter ended March 2007 as against Rs 11.83 crore during the previous quarter ended March 2006. Sales rose 13.97% to Rs 43.17 crore in the quarter ended March 2007 as against Rs 37.88 crore during the previous quarter ended March 2006.

For the full year, net profit rose 13.04% to Rs 54.61 crore in the year ended March 2007 as against Rs 48.31 crore during the previous year ended March 2006. Sales rose 15.83% to Rs 174.16 crore in the year ended March 2007 as against Rs 150.36 crore during the previous year ended March 2006.