ABAN by factica

VIEWS: 30 PAGES: 1

									                                                                                              Regd off: Janpriya Crest, 113, Pantheon Road, Egmore, Chennai - 600 008
ABAN OFFSHORE LIMITED                                                                         E-Mail:    ir@aban.com
                                                                                              Web site: www.abanoffshore.com
                                                                                              Telephone: (044) 2819 5555 Fax: (044) 2819 5527
SHIPPING                                                             MISCELLANEOUS            Tr agent: Cameo Corp. Sevices, Subramaniam Bldg., 1 Club Hse Rd., Chennai - 2
Chairman: V. S. Rao                                                              SEC: C. P. Gopalkrishan                                  AUD: Ford, Rhodes, Parks & Co.
Yr of Inc   B. Code       BL. Code     F.V.         Price         % ch 1-m       % ch 12-m      P/E       P/CF           Yield          Mkt cap               Vol.             ISIN
 1970   523204            ABAN:IN       2          1,630.0          68.8           -22.1        11.4          5.4         0.2           61,614.0          1,535.9          INE421A01028
SHAREHOLDING                                                       FX Transaction (FY09)                             ADJUSTED DAILY SHARE PRICE DATA
Indian Promoters           : 38.8%                Exports (fob)           Rs m         0               (Rs)
Foreign collaborators      : 22.0%                Imports (cif)           Rs m       867
Indian inst/Mut Fund       :   4.6%               Fx inflow               Rs m 10,276           6000
FIIs/GDR                   :   4.6%               Fx outflow              Rs m     1,860                                                                       DAILY
Free float                 : 30.0%                Net fx                  Rs m     8,416
Shareholders               : 117,913                                                                                                                           100 DMA

                           No. of months                   12             12            12      4000
                             Year ending             31/03/07       31/03/08      31/03/09
EQUITY SHARE DATA
High                                   Rs               2,074           5,555        4,292
Low                                    Rs                  644          1,935          224
Sales per share                        Rs               194.6           541.5        806.9      2000
Earnings per share                     Rs                 -3.8           32.5        143.0
Cash flow per share                    Rs                 30.5          115.6        302.1
Dividends per share                    Rs                 3.00           3.60         3.60
Dividend yield (eoy)                   %                   0.2            0.1           0.2
                                                                                                      0
Book value per share                   Rs                 60.9          133.8        375.1
Shares outstanding (eoy)               m                36.94           37.80        37.80            Aug-06           Jun-07            Feb-08               Nov-08           Aug-09
Bonus/Rights/Conversions                                ESOP               BC             -
Price / Sales ratio                    x                    7.0            6.9          2.8                                No. of months                 12           12             12
Avg P/E ratio                          x               -358.6           115.1         15.8                                   Year ending           31/03/07     31/03/08       31/03/09
                                                                                               CASH FLOW
P/CF ratio (eoy)                       x                  44.6           32.4           7.5
Price / Book Value ratio               x                  22.3           28.0           6.0    From Operations                          Rs   m       3,190             8,341     21,077
Dividend payout                        %                 -79.2           11.1           2.5    From Investments                         Rs   m     -87,734           -32,566    -48,183
Avg Mkt Cap                            Rs m            50,201         141,561       85,352     From Financial Activity                  Rs   m      97,676            17,414     26,599
No. of employees                       `000                   1              1            1    Net Cashflow                             Rs   m      13,131            -6,812       -507
Total wages/salary                     Rs m                564          2,003        3,442
Avg. sales/employee                    Rs Th          8,659.0        29,242.9     56,378.9                                       INTERIM RESULTS
Avg. wages/employee                    Rs Th            679.5         2,861.4      6,362.3                                           2QFY09  3QFY09              4QFY09         1QFY10
Avg. net profit/employee               Rs Th           -168.7         1,757.1      9,992.6     Net sales                    Rs   m     2,826   2,619               2,653          2,899
                                                                                               Gross profit                 Rs   m     1,803   1,558               1,448          1,744
INCOME DATA                                                                                    Gross profit margin          %           63.8     59.5               54.6           60.2
Net Sales                              Rs     m         7,187         20,470        30,501     Net profit                   Rs   m       813      558                469            795
Other income                           Rs     m           881            880         4,043     Net profit margin            %           28.8     21.3               17.7           27.4
Total revenues                         Rs     m         8,068         21,350        34,544
Gross profit                           Rs     m         3,683         11,578        18,443                                       KEY DATA
Depreciation                           Rs     m         1,266          3,140         6,015     Parameters                       Unit                  FY07             FY08       FY09
Interest                               Rs     m         2,686          6,658         8,553     Drilling and Production services % of sales             97.9             95.9       88.3
Profit before tax                      Rs     m           612          2,660         7,918     Wind power generation            % of sales              2.1              4.1       11.7
Minority Interest                      Rs     m              0              0           -4     Stores and spares                % of sales              7.4              4.5        5.0
Prior Period Items                     Rs     m              0              0            0     Drilling ser. and mangement fees % of sales              2.2              2.9        2.9
Extraordinary Inc (Exp)                Rs     m             -5              0            0
Tax                                    Rs     m           747          1,430         2,508
                                                                                                                                       NOTES
Profit after tax                       Rs     m          -140          1,230         5,406
Gross profit margin                    %                 51.2           56.6          60.5     Aban Offshore (AOL), the flagship company of the Aban group was established in
Effective tax rate                     %                122.1           53.8          31.7     1986. AOL is a leading offshore drilling services provider in the area of shallow to
                                                                                               deep water offshore exploration and production of oil and gas worldwide. AOL, which
Net profit margin                      %                  -1.9            6.0         17.7
                                                                                               operates in 9 countries, had launched its first contract drilling service to ONGC in
BALANCE SHEET DATA                                                                             1987 with two modern jack-up drilling rigs acquired from USA. Currently it possesses
                                                                                               20 offshore drilling and production units and enjoys a prestigious position among the
Current assets                         Rs m           19,190          14,090        17,054     top ten offshore drilling asset owners in the world. Apart from ONGC, the list of its
Current liabilities                    Rs m            6,949           7,517        14,090     clients include Reliance Industries, Cairn Energy, Shell Brunei, Shell Malaysia.
Net working cap to sales               %               170.3            32.1            9.7
Current ratio                          x                  2.8             1.9           1.2    In FY09, on a consolidated basis, AOL reported nearly 62% YoY growth in revenues
Inventory Turnover                     Days                52             29             27    on the back of a 49% YoY growth in its drilling and production services. Operating
Debtors Turnover                       Days              103              84            69     margins expanded by 3.9% to 60.5% in FY09 as operating costs grew at a slower
Net fixed assets                       Rs m           97,648         126,247       175,604     pace as compared to sales. At the net level, AOL reported a 4-fold growth, mainly led
Share capital                          Rs m                74             76             76    by good show at the operating level and less than proportionate growth in corporate
"Free" reserves                        Rs m            2,174           4,983        10,445     expenses.
Net worth                              Rs m            2,248           5,059        14,180     The sharp decline in oil prices during FY09 and the global economic downturn has
Long term debt                         Rs m           88,947         123,008       166,148     completely altered the industry scenario, which is now marked by a decline in asset
Total assets                           Rs m          121,520         146,728       198,408     utilisation and rig hire rates. The medium term outlook for the oil and rig market
Interest coverage                      x                  1.2             1.4           1.9    remains challenging. However, with an improvement in economic activity a revival in
Debt to equity ratio                   x                39.6            24.3          11.7     demand for oil, which is a core global resource, is expected. Corresponding with that,
Sales to assets ratio                  x                  0.1             0.1           0.2    rig demand and realizations are also expected to witness a revival. AOL's global
Return on assets                       %                  2.8             6.2           7.7    footprint, strong client base, asset quality and decent financial position is expected to
Return on equity                       %                 -6.2           24.3          38.1     enable it to withstand a downturn and enhance its bottomline. Also, the 4 new rig
Return on capital                      %                  3.6             7.3           9.1    contracts worth US$ 695 m in its fold enhance the revenue visibility for the company.
Exports to sales                       %                  0.0             0.0           0.0
Imports to sales                       %                  5.4             3.5           2.8
                                                                           GET MORE INFO AT WWW.EQUITYMASTER.COM

								
To top