ESPK

Document Sample
ESPK Powered By Docstoc
					                                                                                            Regd off: P.O. Vasind, Taluka Shahapur, Dist. Thane, Maharashtra - 421 604
ESSEL PROPACK LIMITED                                                                       E-Mail:    aashay.khandwala@ep.esselgroup.com
                                                                                            Web site: www.esselpropack.com
                                                                                            Telephone: (022) 2481 9000 Fax: (022) 2496 3137
PACKAGING                                                          MISCELLANEOUS            Tr agent: Sharepro Services, 912, Raheja Centre, FPJ Road, Mumbai - 400 021
Chairman: Subhash Chandra                                                      SEC: A. S. Khandwala                                   AUD: MGB & 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
 1982   500135            ESEL:IN      2            30.9          7.1            22.2         NM        20.4            1.0          4,831.1              149.9       INE255A01020
SHAREHOLDING                                                     FX Transaction (CY08)                             ADJUSTED DAILY SHARE PRICE DATA
Indian Promoters           : 37.0%               Exports (fob)           Rs m      357              (Rs)
Foreign collaborators      : 21.9%               Imports (cif)           Rs m    1,310
Indian inst/Mut Fund       :  9.0%               Fx inflow               Rs m      891        100
FIIs/GDR                   :  3.2%               Fx outflow              Rs m    1,398                                                                     DAILY
Free float                 : 28.9%               Net fx                  Rs m     -507
Shareholders               : 31,851
                                                                                               80                                                          100 DMA

                           No. of months                  12            12            12
                             Year ending            31/12/06      31/12/07      31/12/08       60
EQUITY SHARE DATA
High                                  Rs                  97              89           81
Low                                   Rs                  61              46           11      40
Sales per share                       Rs                64.5           76.2         82.4
Earnings per share                    Rs                 6.3             3.9         -5.6
Cash flow per share                   Rs                11.8             8.1          1.5
                                                                                               20
Dividends per share                   Rs                2.00           1.20         0.30
Dividend yield (eoy)                  %                  2.5            1.8           0.7
                                                                                                0
Book value per share                  Rs                48.7           52.0         44.3
Shares outstanding (eoy)              m              156.60         156.60       156.60         Aug-06             Jun-07            Feb-08           Nov-08               Aug-09
Bonus/Rights/Conversions                                FV2                -            -
Price / Sales ratio                   x                   1.2            0.9          0.6                               No. of months                12            12            12
Avg P/E ratio                         x                 12.6           17.4          -8.2                                 Year ending          31/12/06      31/12/07      31/12/08
                                                                                             CASH FLOW
P/CF ratio (eoy)                      x                   6.7            8.3        30.4
Price / Book Value ratio              x                   1.6            1.3          1.0    From Operations                         Rs   m      1,582               845       -605
Dividend payout                       %                 31.8           30.9          -5.3    From Investments                        Rs   m     -1,483            -1,741     -1,523
Avg Mkt Cap                           Rs m            12,371         10,571        7,204     From Financial Activity                 Rs   m       -170             1,000      2,394
No. of employees                      `000                  2              3            1    Net Cashflow                            Rs   m        -72               104        266
Total wages/salary                    Rs m             1,956          2,270        2,535
Avg. sales/employee                   Rs Th          5,120.8        4,421.5     18,875.7                                       INTERIM RESULTS
Avg. wages/employee                   Rs Th            992.4          840.7      3,706.1                                          3QCY08 4QCY08              1QCY09         2QCY09
Avg. net profit/employee              Rs Th            499.7          225.2     -1,290.9     Net sales                   Rs    m     3,365   3,604             3,234          3,337
                                                                                             Gross profit                Rs    m       228      575              529            583
INCOME DATA                                                                                  Gross profit margin         %              6.8    16.0             16.4           17.5
Net Sales                             Rs     m        10,093        11,938        12,911     Net profit                  Rs    m      -225      -99                 3             11
Other income                          Rs     m           307           249           258     Net profit margin           %             -6.7    -2.7               0.1            0.3
Total revenues                        Rs     m        10,400        12,187        13,169
Gross profit                          Rs     m         2,179         1,935         1,212                                           KEY DATA
Depreciation                          Rs     m           865           667         1,120     Parameters                          Unit             CY06             CY07       CY08
Interest                              Rs     m           357           674           839     India share                         % of sales        28.0             26.1       26.0
Profit before tax                     Rs     m         1,264           843          -489     America & Europe                    % of sales        47.5             46.0       44.6
Minority Interest                     Rs     m           -34           -43            -60    East Asia Pacific                   % of sales        25.9             23.3       16.6
Prior Period Items                    Rs     m             26          -15             -6    Selling expenses                    % of sales         1.9              2.7        3.5
Extraordinary Inc (Exp)               Rs     m            36            13             12    Gross margins                       %                 21.6             16.2       22.9
Tax                                   Rs     m           307           190           340
                                                                                                                                    NOTES
Profit after tax                      Rs     m           985           608          -883
Gross profit margin                   %                 21.6          16.2          22.9    Essel Propack Limited (EPL), promoted by Essel group is the world's largest
Effective tax rate                    %                 24.3          22.5         -69.5    packaging company in laminated tubes. The company's operations span 13 countries
                                                                                            with 25 plants. The company's global sales stand at around 4.55 bn tubes, which is
Net profit margin                     %                   9.8           5.1          -6.8
                                                                                            32% of the global laminated tubes market. The company caters to the oral care,
BALANCE SHEET DATA                                                                          cosmetics, personal care, pharmaceutical, food and industrial sectors. Over the
                                                                                            years, the company has acquired the tubing business of the Propack group, UK
Current assets                        Rs m             4,923         5,754         7,590    based Arista Tubes and Telecon Packaging and Packaging India. EPL also acquired
Current liabilities                   Rs m             2,409         2,551         2,205    85% equity stake in the medical devices companies Tacpro Inc USA and Avalon
Net working cap to sales              %                 24.9          26.8          41.7    Medical Services Pte Ltd, Singapore (both under the same management) in April
Current ratio                         x                   2.0           2.3           3.4   2006.
Inventory Turnover                    Days                58            58             59
Debtors Turnover                      Days                55            47             57   On a consolidated basis, the company reported an 11% YoY rise in the topline in
Net fixed assets                      Rs m             6,149         7,677         7,253    1HCY09. The domestic markets grew by 4% YoY, while the international business
Share capital                         Rs m               313           313           313    reported a 9% YoY growth. On a consolidated basis, the company reported profits
"Free" reserves                       Rs m             6,932         7,238         6,228    during the quarter 2QCY09 as compared to a net loss of Rs 52 m in 2QCY08. Higher
                                                                                            operating margins led to the turnaround. Further, turnaround in the European
Net worth                             Rs m             7,630         8,137         6,940
                                                                                            business was another key factor that helped in recovery.
Long term debt                        Rs m             4,490         4,739         5,736
Total assets                          Rs m            15,556        17,940        19,685    After witnessing tough quarters over the year, the company has taken restructuring
Interest coverage                     x                   4.5           2.3           0.4   activities, which led to a better 2QCY09. The management is hopeful of the scenario
Debt to equity ratio                  x                   0.6           0.6           0.8   getting better and the company enjoying margins in the range of 20% in the next few
Sales to assets ratio                 x                   0.6           0.7           0.7   quarters. However, the lack of bargaining power and any rise in crude price can affect
Return on assets                      %                 11.1          10.0           -0.3   its performance.
Return on equity                      %                 12.9            7.5        -12.7
Return on capital                     %                 13.6          11.4            2.3
Exports to sales                      %                   2.8           2.2           2.8
Imports to sales                      %                 10.0            6.8         10.1
                                                                        GET MORE INFO AT WWW.EQUITYMASTER.COM

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:244
posted:11/6/2010
language:English
pages:1