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Future Enterprises standalone net profit rises 615.37% in the June 2016 quarter

Future Enterprises standalone net profit rises 615.37% in the June 2016 quarter

Sep 14,2016

Net profit of Future Enterprises rose 615.37% to Rs 315.48 crore in the quarter ended June 2016 as against Rs 44.10 crore during the previous quarter ended June 2015. Sales declined 67.64% to Rs 921.19 crore in the quarter ended June 2016 as against Rs 2846.84 crore during the previous quarter ended June 2015.

ParticularsQuarter Ended
n++Jun. 2016Jun. 2015% Var.
Sales921.192846.84-68
OPM %24.969.91-
PBDT295.07184.1360
PBT142.3249.92185
NP315.4844.10615

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Sasken Technologies consolidated net profit declines 79.63% in the March 2017 quarter
Apr 20,2017

Net profit of Sasken Technologies declined 79.63% to Rs 35.57 crore in the quarter ended March 2017 as against Rs 174.63 crore during the previous quarter ended March 2016. Sales declined 1.80% to Rs 117.66 crore in the quarter ended March 2017 as against Rs 119.82 crore during the previous quarter ended March 2016.

For the full year,net profit declined 64.28% to Rs 73.69 crore in the year ended March 2017 as against Rs 206.29 crore during the previous year ended March 2016. Sales declined 2.95% to Rs 468.94 crore in the year ended March 2017 as against Rs 483.17 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales117.66119.82 -2 468.94483.17 -3 OPM %9.997.96 -9.209.76 - PBDT15.1213.01 16 68.5463.19 8 PBT13.6011.32 20 62.0456.59 10 NP35.57174.63 -80 73.69206.29 -64

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Sasken Technologies standalone net profit declines 82.77% in the March 2017 quarter
Apr 20,2017

Net profit of Sasken Technologies declined 82.77% to Rs 30.77 crore in the quarter ended March 2017 as against Rs 178.56 crore during the previous quarter ended March 2016. Sales declined 1.97% to Rs 99.13 crore in the quarter ended March 2017 as against Rs 101.12 crore during the previous quarter ended March 2016.

For the full year,net profit declined 68.41% to Rs 66.00 crore in the year ended March 2017 as against Rs 208.94 crore during the previous year ended March 2016. Sales declined 2.85% to Rs 390.46 crore in the year ended March 2017 as against Rs 401.92 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales99.13101.12 -2 390.46401.92 -3 OPM %6.016.78 -7.347.64 - PBDT9.4415.97 -41 58.2362.02 -6 PBT8.0714.47 -44 52.3256.16 -7 NP30.77178.56 -83 66.00208.94 -68

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Jay Bharat Maruti standalone net profit rises 72.06% in the March 2017 quarter
Apr 20,2017

Net profit of Jay Bharat Maruti rose 72.06% to Rs 20.75 crore in the quarter ended March 2017 as against Rs 12.06 crore during the previous quarter ended March 2016. Sales rose 42.55% to Rs 483.67 crore in the quarter ended March 2017 as against Rs 339.29 crore during the previous quarter ended March 2016.

For the full year,net profit rose 35.07% to Rs 53.77 crore in the year ended March 2017 as against Rs 39.81 crore during the previous year ended March 2016. Sales rose 17.26% to Rs 1526.63 crore in the year ended March 2017 as against Rs 1301.92 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales483.67339.29 43 1526.631301.92 17 OPM %8.679.48 -8.728.99 - PBDT37.2328.13 32 116.2298.73 18 PBT25.0118.12 38 74.7959.71 25 NP20.7512.06 72 53.7739.81 35

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CRISIL standalone net profit declines 1.40% in the March 2017 quarter
Apr 20,2017

Net profit of CRISIL declined 1.40% to Rs 63.38 crore in the quarter ended March 2017 as against Rs 64.28 crore during the previous quarter ended March 2016. Sales rose 16.08% to Rs 300.59 crore in the quarter ended March 2017 as against Rs 258.95 crore during the previous quarter ended March 2016.

ParticularsQuarter Endedn++Mar. 2017Mar. 2016% Var. Sales300.59258.95 16 OPM %29.6635.23 - PBDT99.76101.87 -2 PBT92.8195.59 -3 NP63.3864.28 -1

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Yes Bank standalone net profit rises 30.20% in the March 2017 quarter
Apr 20,2017

Net profit of Yes Bank rose 30.20% to Rs 914.12 crore in the quarter ended March 2017 as against Rs 702.11 crore during the previous quarter ended March 2016. Total Operating Income rose 23.26% to Rs 4348.99 crore in the quarter ended March 2017 as against Rs 3528.30 crore during the previous quarter ended March 2016.

For the full year,net profit rose 31.13% to Rs 3330.09 crore in the year ended March 2017 as against Rs 2539.45 crore during the previous year ended March 2016. Total Operating Income rose 21.36% to Rs 16424.64 crore in the year ended March 2017 as against Rs 13533.44 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Total Operating Income4348.993528.30 23 16424.6413533.44 21 OPM %65.1571.51 -70.1174.04 - PBDT1381.251039.01 33 5044.113766.20 34 PBT1381.251039.01 33 5044.113766.20 34 NP914.12702.11 30 3330.092539.45 31

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Strong Rupee and Weak Global Trade to Dent Margins of Textile and Apparel Exporters
Apr 20,2017

Textile & Apparel (T&A) exporters earnings and EBITDA margins will be impacted in the near term due to the Indian rupees (INR) 5% appreciation against the dollar in 2017 ytd and weak apparel imports from traditional markets such as US and UK, says India Ratings and Research (Ind-Ra). The on-going strength of the INR vs USD as reflected in the 3-month USDINR futures trading at around 65.19, constrains the price competitiveness of the Indian textile exporters. However Ind-Ra believes that apparel exporters value-added garments mix, partially hedged forex exposure, debt-light structure and reasonable liquidity to support the overall business and financial risk profile. Furthermore strong domestic foothold of large spinners and weavers will mitigate any major impact on their business and credit risk profile.

Unabated strengthening of INR vis a vis USD in the current calendar year has added to the challenges of the T&A industry. Ind-Ra had highlighted in the report Stable Input Prices, Fiscal Incentives to Support Textile and Cotton in FY18 the muted performance in 3QFY17 due to high cotton prices (17% higher prices yoy), demonetization and slow global trade. The easing of liquidity over February - March 2017 propelled a recovery in production output and export volumes; however Ind-Ra believes export realisations will get dented due to the strong rupee.

More than 70% of Indian T&A exports are dollar denominated. Strong INR vs USD is likely to have an adverse impact on the export trade volumes and earnings, since fresh export orders will have reduced competitiveness. As on date, INR has strengthened by more than 5% in 2017, while there has been negligible or a favourable movement of 1%, 0.5% and -1% for major competing nations namely China, Bangladesh and Vietnam respectively. Ind-Ra estimates that INR realisations will shrink by 3%-5% in the near term and hence would impact the profitability of the companies across the textile value chain. Ind-Ra believes that this may offset some of the gains which will accrue from the government of Indias export stimulus package, GST implementation and USAs exit from the Trans Pacific Partnership.

Ind-Ra believes that export-oriented apparel manufacturers with unhedged receivable positions will be the hurt the most, due to their geographically concentrated (US and Europe) earnings profile, low market share and restricted bargaining power with their global clients. Ind-Ra expects EBITDA margin erosion of around 150bp yoy in 4QFY17.

Earnings and EBITDA margins of Ind-Ra rated large spinners and weavers will be relatively less impacted due to their diverse earnings profile, coupled with cost and quality leadership of their products. While domestic demand has recovered from the negative impact of demonetisation, however strong cotton prices coupled with increased price competitiveness of imported yarn and fabric will pressurise margins. Thus balance sheet deleveraging over FY17-FY18 may not be met fully, due to the likely shortfall in operating profits.

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Board of Inditalia Refcon approves appointment of director
Apr 20,2017

The Board of Directors of Inditalia Refcon at its meeting held on 20 April 2017 have approved appointment of Mahesh Sawant as Director of the Company.

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Board of Lancer Container Lines approves conversion of warrants
Apr 20,2017

Lancer Container Lines announced that Board of Directors of the Company at its meeting held on 20 April 2017 has approved allotment of 2 lakh equity shares pursuant to the conversion of 2 lakh warrants of Rs 30.50 each fully paid.

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Cyient appoints director
Apr 20,2017

Cyient announced that Vinai Thummalapally has been appointed as Additional Director by the Board of Directors at their meeting held on 20 April 2017.

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Exide hits record high on brokerage rating
Apr 20,2017

Meanwhile, the S&P BSE Sensex was up 74.18 points or 0.25% at 29,410.75.

On the BSE, 3.32 lakh shares were traded on the counter so far as against the average daily volumes of 2.15 lakh shares in the past one quarter. The stock had hit a high of Rs 240.55 so far during the day, which is a record high. The stock hit a low of Rs 235.10 so far during the day.

The stock had hit a 52-week low of Rs 134.65 on 20 April 2016. It had outperformed the market over the past one month till 19 April 2017, advancing 6.79% compared with the Sensexs 1.05% fall. The scrip had also outperformed the market over the past one quarter, gaining 20.64% as against the Sensexs 7.43% rise.

The large-cap company has equity capital of Rs 85 crore. Face value per share is Rs 1.

Exide Industries net profit rose 9.4% to Rs 151.49 crore on 12.6% growth in net sales to Rs 1725.26 crore in Q3 December 2016 over Q3 December 2015.

Exide Industries manufactures batteries for automobiles, industrial use and for submarines.

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Ind-Ra:Softened Interest Rates Likely to Brighten Solar Sector
Apr 20,2017

India Ratings and Research (Ind-Ra) estimates that INR560 billion out of total debt of INR1,730 billion could be refinanced at a lower borrowing cost across various infrastructure sub-sectors in its portfolio till FY19. Also, there could be a shift in the type of instruments issued for the purpose of raising capital in the sector largely to the capital market instruments, namely bonds, from the conventional term loans.

Ind-Ra estimates that for each 1% reduction in interest rate, the incremental surplus as a % of cash flow available for debt service would be highest in toll roads, followed by solar and wind energy. This could mainly be because the interest burden on these sectors is high as most of these projects are in the ramp-up stage.

Solar energy projects owing to their stable revenue profiles and better counterparties and toll road projects with reasonable track records and stronger sponsors and longer tail period, than other sub-sectors, appear to be the ideal candidates for refinancing. Though Ind-Ra expects a replacement of banks loans by bonds, traction will be witnessed through infrastructure investment trusts.

Also, Ind-Ra observes that the benefit of interest rate reduction will be the least for the annuity sector, followed by the thermal power sector, because refinancing risk has already been factored in at the time of initial funding for the former and due to minimal improvement in persistent issues in the latter.

An estimated INR45 million/project/year is projected to be the surplus for FY18, based on the average interest rate reduction of around 65bp witnessed for Ind-Ra rated entities across various infra sectors. The debt service coverage ratio is likely to improve 0.04x in FY18 across infra sectors.

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Aviation stocks take off
Apr 20,2017

SpiceJet (up 9.53%), Jet Airways (India) (up 5.66%) and InterGlobe Aviation (up 4.96%), edged higher.

Meanwhile, the S&P BSE Sensex was up 50.35 points, or 0.17% at 29,386.92.

Domestic airlines carried 272.79 lakh passengers in January-March 2017 quarter, a growth of 18.59% compared with 230.03 lakh passengers carried in January-March 2016 quarter.

Domestic airlines carried 90.45 lakh passengers in March 2017, a growth of 14.91% compared with 78.72 lakh passengers carried in March 2016.

InterGlobe Aviation dominated other aviation companies in terms of market share at 39.90% in March 2017, followed by Jet Airways (17.90%), SpiceJet (13.20%) and Air India (13%).

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New order boosts Indian Hume Pipe
Apr 20,2017

The announcement was made during market hours today, 20 April 2017.

Meanwhile, the S&P BSE Sensex was up 65.20 points or 0.22% at 29,401.77. The S&P BSE Small-Cap index was up 153.42 points or 1.03% at 15,110.72.

On the BSE, 10,000 shares were traded on the counter so far as against the average daily volumes of 5,696 shares in the past one quarter. The stock had hit a high of Rs 427.95 and a low of Rs 419.60 so far during the day.

The stock had hit a record high of Rs 459 on 9 February 2017 and a 52-week low of Rs 160.50 on 25 May 2016. It had outperformed the market over the past one month till 19 April 2017, advancing 8.41% compared with the Sensexs 1.05% fall. The scrip had also outperformed the market over the past one quarter, gaining 10.9% as against the Sensexs 7.43% rise.

The small-cap company has equity capital of Rs 9.69 crore. Face value per share is Rs 2.

Indian Hume Pipe Company has secured work order of Rs 122.86 crore from Madhya Pradesh Jal Nigam Maryadit, Bhopal for Bankpura Multi Village Rural Water Supply Scheme for 120 villages of Rajgarh district in Madhya Pradesh.

The project is to be completed within 24 months from the date of issue of letter of acceptance. The agreement will be signed in due course.

Indian Hume Pipe Companys net profit rose 182.1% to Rs 17.80 crore on 105.30% rise in net sales to Rs 406.50 crore in Q3 December 2016 over Q3 December 2015.

Indian Hume Pipe Company is engaged in the business of providing integrated water supply schemes including manufacturing, laying and jointing of pipelines of various pipe materials which provide infrastructure facility for development of water supply and irrigation projects.

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Board of Yes Bank recommends final dividend
Apr 20,2017

Yes Bank announced that the Board of Directors of the Company at its meeting held on 19 April 2017, inter alia, have recommended the final dividend of Rs 12 per equity Share (i.e. 120%) , subject to the approval of the shareholders.

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Indiabulls Housing Finance allots NCDs aggregating Rs 1500 crore
Apr 20,2017

Indiabulls Housing Finance has allotted its eighteenth tranche of Secured, Redeemable, Non-Convertible Debentures of face value Rs. 10 lakh each (NCDs) aggregating to Rs.1500 crore on 20 April 2017.

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