Analysis of all results reported on 14th Aug 2020

Analysis of all results reported on 14th Aug 2020

Analysis of all results reported on 14th Aug 2020

PS: Data for education purpose only, use ur own discretion. Views on results may wary as per individual analysis

PATAKA
NA

V STRONG
Polyplex Corp
Sales up 4% at 1160 cr (could have been better)
Ebidta surged to 312 cr vs 223 cr
Margins at 26.9% vs 20%
Pat at 179 cr vs 81 cr

Trigyn Techno.
Sales at 249 cr vs 236 cr qoq
Ebidta at 25 cr vs 11 cr qoq
Margins at 10.2% vs 4.9% qoq
Pat at 18 cr vs 3 cr
Issue remains no interest on cash lying overseas for this co for a long time

GOOD RESULTS
IIFL Wealth
Sales at 349 cr vs 361 cr
PAT at 82 cr vs 62 cr
MTM gains of ₹400m (est of ₹200m) on investments and beat on opex (₹1.3b vs est of ₹1.4b).
Opex at Rs148.6 cr, down 11.6%YOY & 46.2%QOQ

NESCO
Sales down 11%, ebidta up 2%, pat up 35%
Good performance in a v tough quarter
15x ttm p/e

Alkyl Amines
Sales down 8% at 245 cr
EBIDTA up 31%, PAT up 50%
Entire benefit due to cost cutting

WPIL
Sales up 2.7%, EBIDTA at 20 cr vs 7 cr yoy, but 55 cr qoq
PAT at 7 cr vs 3 cr yoy, but 25 cr qoq
7x ttm p/e

ADF Foods
Sales up 12.3%, EBIDTA up 24%, PAT down 5%
18x ttm p/e

WEAK
Finolex cables
Sales down 53%, EBIDTA down 67%, PAT down 54%
12.5x ttm p/e

Elgi Equipments
Sales down 38%, ebidta down 79%, net loss 9 cr vs profit at 17 cr
92x ttm p/e, 5x p/b

KSB
Sales down 27%, ebidta down 57%, pat down 68%
20x ttm p/e

Volt.Transform.
Sales down 61%, ebidta down 86%
Margins at 4% vs 11%
12x ttm p/e

Clariant Chem
Sales down 38%, ebidta down 42%, pat down 66%
Margins at 8.4% vs 9%
19x ttm p/e
Stock still down 35% from 52-week high
10% roce

Vidhi Specialty (commonly compared with Dynemic Products)
Sales down 22%, ebidta down 19%, pat down 12%

Insecticides India
Sales up 14%, ebidta down 22%, pat down 33%
Margins at 12% vs 17.6% yoy, vs -1% qoq
11x ttm p/e

NEW segment: GOOD NUMBERS BUT BE CAREFUL
Xelpmoc Design
M-cap 167 cr
VVVV tiny sales 4 cr vs 1 cr
BUT ROCE: -16.79 %
March 2017 sales at 1.88 cr, March TTM sales at 10.4 cr
Negative ebidta between 2015-2020

Best Agrolife
M-cap 642 cr
Stock moved from 175 in March 2020 to 805
Sales up 82% at 363 cr, ebidta 10 cr vs 3 cr yoy, vs 21 cr qoq
PAT at 16 cr vs 5 cr yoy, vs 15 cr qoq
Trading co: Sahyog Multibase Limited trades in plastic granules, plastic raw materials, PVC resins, etc.
Roce 1.25%
Promoter holding: 5.10 % till march 2020, June went to 38.1%
Debtors days > 200
No sales from March 2010 to March 2016
2 out of last 4 years ebidta margins negative & otherwise 1-2%

PHUUUUS
Bodal Chemicals
Sales down 68%, ebidta loss at 21 cr vs profit at 49 cr
Net loss 20 cr

Thirumalai Chem.
Sales down 55%, ebidta loss at 2 cr vs profit at 29cr
Net loss 20 cr vs profit at 12 cr

Punjab Alkalies
Sales down 60%,ebidta loss at 1 cr vs profit at 18 cr
Don’t mistake all alkalies cos as same – same like chemicals

Fortis
EBIDTA loss at 103 cr vs profit at 142 cr
Net loss at 179 cr vs profit at 68 cr
EBITDA Loss At 103.3 Cr Vs Profits Of142.3 Cr (Edel estimates – Rs.29cr loss)

Varroc Engineer
Sales down 65% at 213 cr vs 2870 cr, ebidta loss at 8 cr vs profit at 269 cr
Net loss at 308 cr

Majesco
Sales at 2 cr vs 277 cr qoq
Ebidta at 1 cr vs 37 cr qoq

La Opala RG
Sales down 83%, ebidta loss at 3 cr vs profit at 25 cr

VRL Logistics
Sales 160 cr vs 540 cr
Ebidta loss at 34 cr vs profit at 89 cr
Net loss 63 cr vs profit of 27 cr

Greenply Industr
Sales down 65%, ebidta loss 6 cr vs profit at 41 cr
16x ttm p/e
Stock still down 55% from 52-week high

Olectra Greentec
Ebidta loss at 6 cr
All electric vehicle story gone away

Kaya Ltd
Sales at 5 cr vs 101 cr, ebidta loss 12 cr vs 13 cr
Net loss 32 cr
Last 5 quarters net loss at 86 cr

Sukhjit Starch
Sales down 34%, ebidta down 70%, net loss1 cr vs profit 9 cr

Varinder Bansal

Managing Partner, Pantomath Asset Management. Ex-Corporate Editor & Head of Research, CNBC-TV18

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