Year: 2007

Market grapevine indicate that BP may even look at delisting its Indian subsidiary at a ‘much higher price’, in which it holds a majority 70.92% stake. However there was no clarification from the company in this regard

Castrol India advanced 25.43% to Rs 272.50 on 9 May, from Rs 215.65 on 9 April, as buying momentum continued on the back of such rumors.

The company manufactures and markets a range of automotive and industrial lubricants under two brands: Castrol and BP.

It has leadership positions in most of the segments in which it operates including passenger-car engine oils, premium two-stroke and four-stroke oils and multigrade diesel engine oils.

Castrol India posted rose 29.18% rise in net profit to Rs 41.52 crore in the fourth quarter ended March 2007, compared with Rs 32.14 crore in the fourth quarter ended March 2006. Sales rose 17.67% to 442.11 crore (Rs 375.73 crore)

Page Industries posted a 49% jump in its net profit to Rs. 17.02 crore in the year ended March 2007 compared to Rs 11.39 crore in FY 2006. Net sales shot up 34% to Rs 135.94 crore, from Rs 101.18 crore.

Page Industries is an exclusive licensee of the Jockey brand of inner wear for India, Sri Lanka, Nepal, Bangladesh and Maldives. The premium innerwear market is posting double-digit growth and the company intends to increase its market share to around 30%. The top line is expected to grow at a CAGR of 35% on the retail revolution, growing consumer sophistication, higher disposable income and urbanisation.

Page Industries expects to benefit from export opportunities emerging from Jockey International USA and Europe. The Page Industries stock had seen a pre-results rally, advancing from Rs 331.55 on 27 April 2007 to 366.65 by 9 May 2007 in anticipation of robust set of results.

Sterlite Optical Technologies (SOTL), an integrated manufacturer of optical fibres and telecom cables, has enhanced its Sterlite Optical FTTH (fiber-to-the-home) concept in India with the introduction of six new products. The company is banking on the broadband revolution in India, and attempts to offer innovative products.

Sterlite Optical Technologies’ net profit fell 13.70% to Rs 19.32 crore in Q4 March 2007 compared to Rs 22.40 crore in Q4 March 2006. Net sales jumped 192.90% to Rs 386.27 crore (Rs 131.87 crore).

Based on the delivery schedules required by its customers, the company anticipates to complete deliveries within the next 6-8 months.

Voltamp reported a 70.1% growth in net profit to Rs 39.16 crore in FY 2007 (year ended 31 March 2007), from Rs 23.02 crore in FY 2006 (year ended 31 March 2006). Net sales rose 62.7% top Rs 404.89 crore (Rs 248.79 crore).

The current price of Rs 688 discounts its FY 2007 EPS of Rs 38.70 by a PE multiple of 17.7. Recently, the company’s board had approved capital expenditure of up to Rs 15 crore to increase installed capacity at the existing unit.

Voltamp Transformers manufactures transformers. It is a supplier to Reliance Industries, Jindal Steel, Siemens, ABB, Larsen & Toubro and Suzlon Energy. In late August 2006, Voltamp Transformers came out with a public issue comprising offer for sale by some its existing shareholders and there was no fresh issue of equity by the company. The issue was priced at Rs 345 per share, at the upper end of the Rs 295 – Rs 345 price band.

Sundaram Home Finance is a subsidiary of Sundaram Finance. A few months ago, Sundaram Finance had bought out the 25% stake held by multilateral lending agencies, FMO of Netherlands and IFC, Washington, in Sundaram Home Finance for Rs 48.52 crore.

Sundaram Finance’s net profit jumped 54.5% to Rs 22.65 crore in Q3 December 2006, from Rs 14.66 crore in Q3 December 2005. Net sales rose 41.4% to Rs 167.67 crore (Rs 118.54 crore).