IFB Agro Result Review 4QFY2013

IFB Agro reported better than expected results for 4QFY2013. Revenue came in at `86cr as compared to our estimate of `82cr, while on a yoy basis, revenue decline dby 9.3% primarily due to fall in revenue in the alcohol division due to closure of the molasses distillery. However, EBITDA margin expanded by 298bp yoy to 6.8% in 4QFY2013 from 3.8% in 4QFY2012, due to a sharp decline in other expenses during the quarter. This coupled with lower depreciation and higher other income led to a net profit `4cr during the quarter as compared to a net profit of `0.3cr in 4QFY2012. For FY2013, overall revenue growth stood at 4.5% yoy to `462cr from `442cr in FY2012. Decline in revenue growth is attributable to lower contribution from the alcohol division. EBITDA margin contracted by 71bp to 10.3% on account of increase in net raw material cost. This was offset by lower depreciation and higher other income which led to 2.5% yoy growth in net profit to `26cr for FY2013. Going forward we expect the revenue to post a 19.2% CAGR to `657cr over FY2013-15 at the back of new distillery capacity, which is expected to be operational by FY2015E. We expect the net profit to post a CAGR of 32.4% on the back of margin expansion arising from high margin distillery business. At the current market price, the stock is trading at P/B of 0.6x for FY2015E, which we feel is attractive. Source: AngelBroking

Result Review 4QFY2013

DLF 

For 4QFY2013, DLF reported disappointing set of numbers which were below consensus estimate, both on revenue and profitability front. On the top-line front, DLF reported revenue of `2,226 a decline of 15.0% yoy in 4QFY2013; which was below consensus estimate of `2,553cr. EBIDTAM came in at 32.6% in 4QFY2013 which was below street estimate of 38.7%. However, owing to losses of subsidiary and poor sales during the quarter, the company reported a loss of `4cr (consensus estimate was a profit of `156cr) against a profit of `213cr in 4QFY2012. Source: AngelBroking

Cadila Healthcare 

Cadila Healthcare posted better than expected results for the quarter, registering a growth of 15.9% to `1,565cr v/s expected `1,344cr on sales front. On the OPM front, the OPM came in at 15.3% V/s expectation of 19.2% , a dip of 175bps. This came inspite of contraction in the OPM’s, on back of `58.3cr tax write-back. This lead the net profit to come in at `262cr, V/s `171cr during the last period. Source: AngelBroking

Madras Cements 

Madras Cements posted a weak financial performance for 4QFY2013. Top-line rose by 5.5% yoy to `927cr. OPM stood at 15.2%, down 732bp yoy, impacted by decline in realizations and increase in freight costs, employee costs and other expenses. Bottom-line fell by 35% yoy to `64cr. Source: AngelBroking

Aurobindo Pharma

Aurobindo Pharmaceuticals posted numbers, above expectation on the sales front, while net profit came in mostly in line with expectations. On the sales front, the company posted sales of `155cr, a growth of 32.5% yoy. The margins came in at 14.3% V/s10.2% in the corresponding period of last year, which lead the company to post a reported net profit of `108.6cr V/s a net profit of `108.0cr, respectively.  Source: AngelBroking

Page Industries 

For 4QFY2013, Page Industries healthy set of numbers which were in-line with our estimates. The company's top line grew by 35.5% yoy to `209cr, marginally above our estimate of `201cr for the quarter. The EBITDA margin for the quarter expanded by 190bp yoy and came in at 17.6%, mainly because of lower other expense as a percent of net sales, in-line with our estimate of 17.7%. Consequently, the company reported a profit of `24cr, 38.5% higher yoy from `17cr in 3QFY2012, in-line with our estimate. For FY2013, the company’s revenue grew by 26.3% to `863cr with an EBITDA margin of 19.0%. The profit for the year grew by 24.8% to `113cr, in-line with our estimate. The company paid a total dividend of `50 per share for FY2013. Given the huge market size, Page’s predominant position, strong brand recall and capacity expansion plans for next four years to cater to the increasing demand; we remain positive on the company’s growth outlook. At the CMP of `4,265, the stock is trading at a PE of 27.5x FY2015E earning. Source: AngelBroking

Result Review 4QFY2013

Mahindra & Mahindra

Utility vehicle maker Mahindra & Mahindra reported a better-than-expected fourth quarter net profit of Rs 889 crore, up near 2 percent year-on-year, helped by sales growth, which was also ahead of street expectations and exceptional gain from sale of Mahindra Holidays and Resorts shares. The company's net sales in the quarter rose 12 percent from a year ago to Rs 10,353 crore in Jan-March. Analysts on average had expected M&M to report a net profit of Rs 723 crore on revenue of Rs 9,990 crore, according to a CNBC-TV18 poll. Its operating margin cane in at 12.1 percent in Jan-March. The company sold 34 lakh shares of Mahindra Holidays in the quarter, which resulted in an exceptional gain of Rs 91 crore. Its finance costs also declined to Rs 51 crore from Rs 71 crore a year ago. M&M shares surged post the earnings announcement and at 14:50hrs, the stock was up 3.7 percent at Rs 997 on NSE.Source: Moneycontrol

Ipca Laboratories

Drug firm Ipca Laboratories today reported a net profit of Rs 75.43 crore for the fourth quarter ended March 31, 2013, on back of robust sales. It had posted a net profit of Rs 76.61 crore for the corresponding quarter of the previous fiscal, the company said in a statement. "Since the entire effect for amalgamation of Tonira Pharma Ltd with the company was given in the last quarter of the financial year ended March 31 2012, the financial results of quarter ended March 31, 2013 and quarter ended March 31, 2012 are not comparable," Ipca Laboratories said. Total income from operations of the company, however, rose to Rs 671.71 crore for the quarter under consideration from Rs 561.83 crore for the same period year ago. In a separate filing on the BSE, the company said its board of directors has recommended a final dividend of Rs 2 per share for the financial year ended March 31, 2013. Net profit of the company for the financial year ended March 31, 2013 rose to Rs 331.39 crore from Rs 280.17 crore for the previous fiscal. The company's total income from operations stood at Rs 2,778.42 crore for the fiscal year ended March 31, 2013 against Rs 2,330.06 crore in the previous fiscal. The company has a strong thrust on exports. Exports now account for 61 per cent of the income, Ipca Laboratories said. Shares of Ipca Laboratories were trading at Rs 609.55 per scrip in late afternoon, up 3.11 per cent from its previous close on the BSE.Source: Moneycontrol

Lanco Infratech

Diversified group Lanco Infratech  today posted a loss of Rs 31.6 crore in the three months ended March 31, 2013. Lanco had a profit of Rs 72.7 crore in the year-ago period. The company is into power generation and road projects, among others. The reported revenue stood at Rs 3,569.6 crore in the fourth quarter of the last fiscal. The same stood at Rs 3,376.2 crore in the same period a year ago. During the fourth quarter, it incurred a forex loss of Rs 16.7 crore, according to a company statement. For the full year ended March 2013, Lanco recorded a loss of Rs 1,073.3 crore. In the comparable period, the loss was lower at Rs 112 crore. The group's net debt touched Rs 33,593.5 crore at the end of March 2013.Source: Moneycontrol

SAIL

State run Steel Authority of India’s ( SAIL  ’s )  March quarter profit declined 72 percent year-on-year to Rs 477 crore on higher employee cost which went up 36 percent to Rs 2473 crore. Even interest cost almost doulbed to Rs 215 crore from Rs 212 crore YoY. Total Income also de-grew 11 percent YoY to Rs 12330 crore. Other factors that contributed to lower profit include power and fuel cost which climbed 4 percent to Rs 1218 crore. Forex gain was also down 98 percent to Rs 16 crore along with an 7.6 percent rise in other expense. Net sales realisation also declined to Rs 34489/tonne as against 38717/tonne YoY. The company also witnessed flattish growth in saleable steel volume at 11. 1 million tonnes. Earnings before interest, tax, depreciation and amortization (EBITDA) also declined to Rs 924 from Rs 1576 crore YoY. Post earnings announcement, SAIL shares declined marginally to Rs 59.85 despite a dent in earnings.Source: Moneycontrol

GMDC

Gujarat Mineral Development Corporation ( GMDC ) today reported 5.90 per cent decline in net profit at Rs 149.27 crore for the quarter ended March 31, 2013. The company had posted a net profit of Rs 158.64 crore in the corresponding quarter a year ago. The total income of the state-government PSU dipped by 15 per cent in the quarter ended March 31, 2013 at Rs 476.52 crore against Rs 560.61 crore in the corresponding quarter of the previous year.Source: Moneycontrol

MCX

Multi-Commodity Exchange of India Ltd ( MCX ) today said its net profit increased by 16 per cent to Rs 76.62 crore in the fourth quarter ended March 31 from Rs 65.95 crore in the same period of last fiscal. Total income increased by nine per cent to Rs 169.04 crore from Rs 155.18 crore in the quarter ended March 31, 2012, a company statement said here. The leading commodity bourse's EBITDA (earnings before interest, taxes, depreciation and amortisation) rose by seven per cent to Rs 112.03 crore from Rs 105 crore a year ago. In FY13, MCX's total income went up by two per cent to Rs 644.69 crore from Rs 631.03 crore in FY 12, it said. Net profit increased by four per cent to Rs 298.64 crore from Rs 286.19 crore last fiscal. For the year ended March 31, 2013, EBITDA margin was 68 percent and PAT margin 46 per cent. The Board of Directors recommended a final dividend of 120 per cent on the face value of Rs 10 per share for the year ended March 31, 2013. The total dividend for FY13 (subject to the final dividend being approved by shareholders) is 240 per cent - Rs 24 per share on the face value of Rs 10 each. The exchange said its average daily turnover traded for FY13 stood at Rs 48,790 crore as against Rs. 50,313 crore in the previous fiscal. The total number of commodity futures contracts traded on the exchange for FY 13 stood at 375.05 million as against 389.85 million in FY12. "The global commodity markets witnessed a sharp dip in volumes due to low volatility in commodity prices resulting in low demand for risk management instruments. Despite an adverse business environment, MCX has maintained its profitability," MCX Managing Director and CEO Shreekant Javalgekar said. MCX's market share rose to 87.3 per cent from 86 per cent in the previous year and we retained the third position globally, he said. For CY2012, MCX was the world's largest exchange in gold and silver futures, second in copper and natural gas and third largest in crude oil futures, Javalgekar said. Source: Moneycontrol

Result Review 4QFY2013

ONGC 

ONGC reported lower than expected 4QFY2013 profitability performance due to higher operating costs. The company’s top line increased by 13.6% yoy to `21,388cr (above our expectation of `19,938cr). The company’s crude oil production volumes declined 1.8% yoy to 6.47mn tonnes while gas volumes stood at 6.2bcm. The company shared a subsidy burden of `12,310cr in 4QFY2013. The company's EBITDA decreased by 7.3% yoy to `10,731cr. Depreciation expenses grew by 76.9% yoy to `2,387cr which resulted in net profit declining by 39.9% yoy to `3,389cr (below our expectation of `4,172cr). The company has notified two new gas discoveries in KG basin deepwater field. The company estimates a potential gas reserve base of 4.85TCF from these fields. Source: AngelBroking

Tata Motors 

For 4QFY2013, Tata Motors (TTMT) consolidated performance better than our as well as street expectations on all broader fronts, as strong operating performance from JLR offset soft performance at standalone biz and other subsidiaries. The standalone operations posted loss of `312cr, against our expectations of a net loss of ~`490cr, primarily on account of higher discounts and higher operating costs for transport operators impacting demand for MHCV industry. The consolidated top-line registered a strong sequential growth of 21.5% qoq to `56,002cr, which was above our estimate of `50,605cr on account of strong performance from JLR. The JLR top-line grew by ~22% yoy to GBP 5,053mn, led by ramp-up in volumes of the new Range Rover On a sequential basis, consolidated EBITDA margins grew by ~160bp qoq to at 14.9% (~+80bp yoy) vs. our expectations of 12.5%, driven by the robust performance of JLR, which was underlined by the favorable impact of the new Range Rover. JLR margins came in at 16.9% (+230bp yoy, +290bp qoq) benefitting from better geographic/product mix and favorable currency. Depreciation expense in JLR at GBP 213mn (+73% yoy) continues to maintain upward trajectory as new products/platforms got amortized. Adjusted net profit at GBP 466mn was marginally ahead of estimates. Standalone margins stood at 3.6% (-600bp yoy, +140 bps qoq). On consolidated level, adjusted net profit came in at `3,931, beating our estimate of `2,298cr, aided by ~19% qoq lower tax, driven by a tax credit for past income tax losses of GBP 225mn in a UK subsidiary. As of 4QFY2013, on a consolidated level, TTMT has a healthy net auto debt/equity of ~0.24x. While the 4QFY2013 results are on expected lines, management’s commentary did not indicate any major signs of a revival in domestic business soon. In trucks, TTMT has contained inventory and discounts at the cost of market share. Company remains cautiously optimistic on JLR, with the key positive being the JLR model cycle; the company stated that margins on new Range Rover and Range Rover Sport are good.Source: AngelBroking

Cipla 

Cipla posted below expected numbers during the quarter. Cipla posted a growth in net sales by 5.1% to `1,906cr V/s expected `2,057cr. The low growth during the quarter on sales front, was on account of the low growth in domestic formulation, which grew by 5.2% yoy, while exports grew by 4.0%, on account of the 24% dip in the API exports. On the operating front, the OPM (excluding technical know-how fees) came in at 18.3%, down by 80bp over the corresponding period of last year. This along with the 684% rise in the interest expenses aided the net profit to dip by 8.3% yoy to `268cr. Source: AngelBroking

Tata Motors Result Preview

India's largest commercial vehicle maker Tata Motors  will report its fourth quarter results later on Wednesday, amid what has been a continued slump in the domestic business, and no signs yet of any pick up in demand for trucks as well as passenger cars. Its consolidated operating margins, meanwhile, are expected to see a pickup, driven by strong demand for the new Range Rover and good response to Jaguar's XF and XJ models in the global markets. Overall, analysts expect Tata Motors consolidated net profit to decline 52 percent year-on-year to Rs 2,990 crore. Its British luxury Jaguar Land Rover unit had a large one-off tax writeback of GBP 166 million, in the year ago quarter. Revenue is likely to increase 4 percent to Rs 53,000 crore, according to a CNBC-TV18 poll. Consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) is seen up 8 percent to Rs 7,245 crore, while operating profit margin will expand to 13.6 percent from 13.3 percent. JLR is likely to report a net profit of GBP 399 million, with revenue rising 17 percent to GBP 4.87 billion. EBITDA is seen up 21 percent to GBP 735 million, while operating profit margin will expand 60 bps to 15.2 percent, helped by an increase in average selling price. However, some analysts feel JLR could also surprise negatively if there is a higher of lower margin products like the Evoque, Freelander and higher fixed costs for new Jaguar launches and new Range Rover assembly line at Solihull.

STANDALONE EARNINGS

Despite strong sales growth at JLR, its the standalone business, that has been a worry for several quarters now and things are unlikely to have improved in the fourth quarter, sales for both CVs and PVs remain sluggish. On an average, analysts expect Tata Motors' primarily domestic operations to report a loss of Rs 514 crore, versus a profit of Rs 565 crore, a year ago. Revenue likely tumbled 35 percent to Rs 10,640 crore. CV sales, especially medium and heavy trucks, declined 43 percent year-on-year, despite record high discounts and inventory levels are still at 6-7 weeks. Passenger car sales are down 67 percent year-on-year.

STOCK WATCH

Ahead of results, Tata Motors shares were up 1.1 percent at 163.60 on NSE in morning trade. The stock is down near 7 percent since Dec-end, underperforming the wider Nifty, which is up 3.5 percent over the same period. Outlook on domestic demand, especially, CVs, JLR demand trends and FY14 sale outlook, especially in China and the US markets, new Range Rover order book, update on Range Rover Sport and other launches, will be key factors to watch, said HDFC Securities. Many brokerages are still bullish on Tata Motors; Credit Suisse expect it to "outperform" and Goldman Sachs advises a "buy." "We believe JLR's performance will continue to drive Tata Motors' stock, as it contributes 75 percent of company's revenue and 90 percent of its profit," Brics Securities, said, putting a "add" rating to the stock.

Result Review 4QFY2013

Godrej Industries

Godrej Industries today reported consolidated net profit of Rs 93.67 crore for the fourth quarter ended on March 31. It had posted a net profit of Rs 42.72 crore in the same period in 2011-12 fiscal, the company said in a BSE filing. The total income of the company during the quarter stood at Rs 1,457.54 crore. It was Rs 1,430.95 crore in same period in 2011-12 fiscal. The company's expenses during the quarter under review declined Rs 1,368.47 crore of 2012-13 fiscal from Rs 1,405.08 crore in year-ago period. For 2012-13, net profit stood at Rs 391.18 crore. It was Rs 291.61 crore in the  previous financial year. Total income of the company in the last fiscal was at Rs 6,964.32 crore in 2012-13 while it was Rs 5,612.09 crore in 2011-12 fiscal. The results were not comparable with the previous fiscal due to changes in its shareholding in some of the  subsidiaries and joint ventures, the company said. "The company has sold part of it's holding in its subsidiary viz Godrej Agrovet Limited, entire holding in M'Modal Inc and its joint venture company viz Godrej Hershey Limited," the filing added. Commenting on the results, Godrej Industries Chairman AB Godrej said: "Our agri businesses recorded encouraging growth in a challenging enviorment and despite a highly irregular monsoon." He added that Godrej Properties witnessed a year of strong growth and continued momentum with revnues. "For our chemical business, it has been a tough year on account of volatility in the global macro economic environment and raw material price fluctuations," Godrej said. The company's board has recommended a dividend of Rs 1.75 per share of face value of Re 1 per share. Shares of the company today fell by 1.40 per cent to settle at Rs 296.80 apiece on the BSE. Source: Moneycontrol

Power Grid

Power Grid Corporation on Tuesday posted consolidated net profit of nearly 31 per cent to Rs 4,312.61 crore for the  2012-13 fiscal. The transmission utility had consolidated net profit of Rs 3,302.99 crore in 2011-12, it said in a regulatory filing. In 2012-13, the company's total income increased to Rs 13,727.12 crore, from Rs 11,073.58 crore in the previous fiscal. On a standalone basis, Power Grid reported net profit of Rs 4,234.50 crore in the last financial year. This is 30 percent higher than Rs 3,254.95 crore in 2011-12. Total income rose to Rs 13,328.74 crore in 2012-13, from Rs 10,785.01 crore in 2011-12. Power Grid will pay a final dividend of Rs 1.14 per share, which would be in addition to the interim dividend of Rs 1.61 per scrip paid in March this year. The company scrip rose marginally to close at Rs 112.50 on the BSE.  Source: Moneycontrol

Trent 

Tata group's retail venture Trent Ltd today reported a marginal decline in standalone net profit for the fourth quarter ended March 31, 2013 at Rs 19.5 crore. The company had posted a standalone net profit of Rs 19.52 crore in the same period of 2011-12 fiscal, Trent Ltd said in a filing to the BSE. Total income from operations during the quarter under review stood at Rs 229.59 crore as against Rs 198.93 crore in the year-ago period, the company added. Total expense during the fourth quarter of 2012-13 stood at Rs 224.72 crore, up from Rs 217.51 crore in the same quarter in the previous fiscal. The board of directors of the company has recommended dividend of Rs 7 per equity share, aggregating Rs 27.22 crore for the year ended March 31, 2013, it said. For the full year 2012-13, consolidated net loss was at Rs 26.83 crore, an improvement from net loss of Rs 37.76 crore in the previous fiscal. Net income from operations during FY13 stood at Rs 2,132.02 crore, up from Rs 1,844.86 crore in FY12, the filing added. Consolidated revenue from retailing for the full year 2012013 was at Rs 2,115.12 crore, up from 1,811.27 crore in the previous fiscal, it said. Shares of Trent Ltd were trading at Rs 1,065 per share in the afternoon trade, down 1.50 percent from the previous close on the BSE. Source: Moneycontrol

HDIL

Mumbai-based real estate developer Housing Development and Infrastructure ( HDIL ) disappointed the street with its fourth quarter net loss at Rs 280 crore as against profit of Rs 315 crore reported in a year ago period, impacted by consolidated exceptional loss of Rs 442 crore during the quarter. Revenue dropped more than 77 percent to Rs 143 crore during January-March quarter from Rs 625 crore in corresponding quarter of last fiscal. The real estate developer said Mumbai International Airport (MIAL) served termination notice for slum rehabilitation project. "We have initiated legal remedies against MIAL's termination notice and have written off unrealised cost of Rs 442 crore on MIAL project," vice chairman & MD, Sarang Wadhawan said. He said, however, no current project would be affected by MIAL termination. "We will monetise balance TDR of 1 m sq ft of airport project," he added. "We expect to book revenue from 3 projects in first quarter of FY14." He said standalone debt has reduced from Rs 3,740 crore to Rs 3,143 crore while consolidated debt fell by Rs 100 crore to Rs 4,018 crore. "Debt reduction continues to be primary focus of the company," he added. Shares fell 10 percent to Rs 46.15 on Bombay Stock Exchange. Source: Moneycontrol

Essar Shipping 

Essar Shipping 's consolidated net profit plunged 99.91 per cent to Rs 5 lakh during the fourth quarter ended March 31, hit hard by dismal performances of its shipping and logistics businesses as well as rising costs. The Essar group company had reported a net profit of Rs 54.98 crore in the January-March quarter of 2011-12. Its total income from operations was down 11.78 per cent at Rs 729.08 crore during the quarter due to decline in revenues from two major business segments -- fleet operations and logistics services, it said in a filing to the BSE today. In Q4 of FY'12, it was Rs 826.41 crore. While Essar's gross revenues from fleet operations or shipping business was down nearly 4 per cent to Rs 370.28 crore in Q4, logistics business reported decline of over 25 per cent at Rs 222.94 crore. The oilfield services business posted a meagre growth of 1 per cent at Rs 151.82 crore during the quarter. Moreover, the company's operating costs increased in Q4 as its total expenditure, at Rs 678.55 crore, amounted to 92.55 per cent of its total income. In the Q4 of FY'12, its expenditure was nearly 84 per cent of its total income. "The shipping business has faced challenges due to the depressed markets and freight levels globally. The robust performance of the oilfields services business has enabled the  company to maintain its consolidated profitability in line with the previous year," Essar said in a separate statement. For the full 2012-13 fiscal, the company's consolidated net profit declined marginally by 2.80 per cent at Rs 35.80 crore vis-a-vis Rs 36.83 crore of FY'12. Its total income in the last fiscal rose by 14.55 per cent at Rs 3,209.19 crore. "The  company is now fully focused on  managing operating costs effectively. Together with specific measures for interest cost reduction being pursued, these  measures will strengthen the performance of the company in the coming months and help increase profitability," Essar's  Director and CEO (Sea Transportation Business) Captain Anoop Sharma said. He added that during the year, Essar has taken delivery of its all six mini cape dry bulk carriers built at STX Shipyard. Meanwhile, in a separate announcement, the company said that Anshuman Ruia, its promoter and non-executive director has stepped down from its Board with immediate effect, though it did not specified the reasons for Ruia's resignation. Essar Shipping scrip rose by 7.16 per cent to close at Rs 22.45 on the BSE. Source: Moneycontrol

Result Review 4QFY2013

GAIL

State-run GAIL India  's March quarter profit more than halved to Rs 618 crore quarter-on-quarter on higher employee cost and depreciation cost. While employee cost went up around 28 percent to Rs 237 crore, depreciation cost also expanded 12 percent QoQ.to Rs 272.56. Sales also declined marginally to Rs 12408 crore. The company's subsidy share to oil companies also declined to Rs 587 crore from 1397 crore YoY. The firm along with other upstream firms have to partly compensate oil retaillers for selling petroleum products at subsidised rates. Source: MoneyControl

PVR

Multiplex chain PVR turned profitable in the fourth quarter. Its reported a consolidated net profit of Rs 11.7 crore against loss of Rs 13.2 crore in same quarter of previous financial year. Its consolidated net sales grew by 103 percent to Rs 242 crore during January-March quarter from Rs 119.4 crore in a year ago period. The company reported a tax writeback of Rs 29.4 crore during the fourth quarter. Revenues from its movie exhibition business doubled to Rs 214.72 crore from Rs 106.27 crore while movie production and distribution business' sales rose to Rs 17.93 crore from Rs 7.31 crore year-on-year. Revenues from bowling and gaming centre jumped to Rs 13.81 crore during March quarter from Rs 6.75 crore in a year ago period. The stock rallied 4.36 percent to close at Rs 342.05 amid hefty volumes on Bombay Stock Exchange.Source: MoneyControl

TATA GLOBAL

Tata Global Beverages today reported 76.64 percent increase in its consolidated net profit for the fourth quarter ended March 31, 2013 at Rs 95.76 crore on the back of robust performance in both tea and coffee segments. The company had posted a net profit of Rs 54.21 crore in the same period during the previous fiscal, Tata Global Beverages said in a filing to the BSE. Total income from operations stood at Rs 1,849.5 crore as compared to Rs 1,738.62 crore in the year-ago period, it added. The tea segment posted a revenue of Rs 1,366.56 crore, up from Rs 1,278.19 crore in the same quarter of previous fiscal. Coffee and other produce had sales of Rs 459.52 crore in the period under review as compared to Rs 434.38 crore in the fourth quarter previous fiscal, it said. "Both the tea and coffee segments have done well for us during the quarter and also the full year. In the tea segment, India has done exceedingly well while we also had good performance in markets like US and Australia," Tata Global Beverages CFO L Krishnakumar told PTI. Besides, cost efficiency measure undertaken by the company had also helped in better bottomline, he added. For the fiscal 2012-13, the company's consolidated net profit stood at Rs 372.75 crore as against Rs 356.14 crore in the previous fiscal. Net income from operations during FY13 stood at Rs 7,350.98 crore as against Rs 6,640.04 crore in the previous fiscal, the company said. Krishnakumar said in the coffee segment, Tata Global Beverages' joint venture with Starbucks Coffee Co is on track to open the stated 50 outlets of the US coffee chain in India within the first year. Tata Starbucks now has 13 stores in India across Mumbai and Delhi. He, however, declined to share revenues from the JV citing confidentiality clause. The company said its Board of Directors have recommended a dividend of Rs 2.15 per equity share of Re 1 each, fully paid, for the financial year 2012-13. Shares of Tata Global Beverages were trading at Rs 147.20 per scrip, during the afternoon trade, up 2.54 percent from the previous close on the BSE.Source: MoneyControl

HAVELLS INDIA

Havells India  ' fourth quarter profit jumped by 20 percent to Rs 109.8 crore from Rs 91.52 crore a year ago. Total income also surged by 11.7 percent from 1048.8 crore to Rs 1172.9 crore. The toplie growth was weak but the company did fare well on the operation front. Interest cost has also come off sharply to Rs 2.7 crore from Rs 20 crore, a year ago. The earnings before interest, tax, depreciation and amortization was up 16.4 percent at Rs 146 crore against Rs 125 crore in the previous quarter last fiscal. The company’s core operating profit margins have also improved by 50 basis points to 12.5 percent.

Segmentwise break-up

Switchgears form 25 percent of the company's revenues. Margins were under pressure in this segment. Revenues were up 31.2 percent at Rs 312 crore compared to Rs 238 crore. Earnings before interest, tax (EBIT) margins were down by 330 basis points to 31.3 percent. Cables and Wires comprises 40 percent of the total revenues. Sales in this segment were down 3.1 percent at Rs 462 crore. EBIT margins were also down 290 bps at 6.0 percent against 8.9 percent.Source: MoneyControl