Documents
Resources
Learning Center
Upload
Plans & pricing Sign in
Sign Out

NRCN

VIEWS: 4 PAGES: 1

									                                                                                             Regd off: 41, Nagarjuna Hills, Punjagutta, Hyderabad - 500 082
NAGARJUNA CONSTRUCTION COMPANY LTD.                                                          E-Mail:    ho.secr@nccltd.com
                                                                                             Web site: www.ncclimited.com
                                                                                             Telephone: (040) 2335 1753 Fax: (040) 2335 0214
CONSTRUCTION                                                     NAGARJUNA GROUP             Tr agent: Sathguru Mgmt. Consultants, 15, Hindi Nagar, Punjagutta, Hyderabad - 34
Chairman: A. V. S. Raju                                                         SEC: M. V. Srinivasa Murthy                             AUD: Deloitte Haskins & Sells
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
 1990   500294            NJCC:IN      2           135.7          -11.0            10.0        17.1         11.8         0.8           31,054.9              341.2         INE868B01028
SHAREHOLDING                                                     FX Transaction (FY09)                              ADJUSTED DAILY SHARE PRICE DATA
Indian Promoters           : 24.4%               Exports (fob)          Rs m         0
                                                                                                     (Rs)
Foreign collaborators      :  0.0%               Imports (cif)          Rs m         0
Indian inst/Mut Fund       : 26.0%               Fx inflow              Rs m         0         400
FIIs/GDR                   : 24.0%               Fx outflow             Rs m       506                                                                         DAILY
Free float                 : 25.7%               Net fx                 Rs m      -506
Shareholders               : 57,571                                                                                                                            100 DMA
                                                                                               300
                           No. of months                  12             12            12
                             Year ending            31/03/07       31/03/08      31/03/09
EQUITY SHARE DATA
                                                                                               200
High                                  Rs                236             373           234
Low                                   Rs                  98            145             34
Sales per share                       Rs              141.4           158.9         209.2
Earnings per share                    Rs                 4.6             7.3           7.9     100
Cash flow per share                   Rs                 6.5           10.0          11.5
Dividends per share                   Rs               0.40            1.30          1.10
Dividend yield (eoy)                  %                  0.2            0.5            0.8
                                                                                                  0
Book value per share                  Rs               48.7            67.7          75.4
Shares outstanding (eoy)              m              208.51         228.84        228.85          Aug-06             Jun-07            Feb-08                 Nov-08             Aug-09
Bonus/Rights/Conversions                            B1:1,PA              PA         ESOP
Price / Sales ratio                   x                  1.2             1.6           0.6                               No. of months                  12            12              12
Avg P/E ratio                         x                36.1            35.4          16.9                                  Year ending            31/03/07      31/03/08        31/03/09
                                                                                              CASH FLOW
P/CF ratio (eoy)                      x                25.9            26.0          11.6
Price / Book Value ratio              x                  3.4             3.8           1.8    From Operations                          Rs   m      -2,411             -1,713      -3,430
Dividend payout                       %                  8.7           17.8          13.9     From Investments                         Rs   m      -5,631             -7,603      -7,210
Avg Mkt Cap                           Rs m           34,821          59,270        30,666     From Financial Activity                  Rs   m       8,164              9,560       9,133
No. of employees                      `000                 3               4             4    Net Cashflow                             Rs   m         122                244      -1,507
Total wages/salary                    Rs m            3,817           4,959         6,799
Avg. sales/employee                   Rs Th         9,086.6        10,042.5      12,288.8                                       INTERIM RESULTS
Avg. wages/employee                   Rs Th         1,176.3         1,369.9       1,745.6                                           2QFY09   3QFY09              4QFY09          1QFY10
Avg. net profit/employee              Rs Th           297.1           462.4         465.5     Net sales                    Rs   m    10,558   10,266              10,981          10,010
                                                                                              Gross profit                 Rs   m     1,085      899                 838           1,037
INCOME DATA                                                                                   Gross profit margin          %           10.3       8.8                 7.6           10.4
Net Sales                             Rs     m        29,486         36,354        47,865     Net profit                   Rs   m       423      362                 382             382
Other income                          Rs     m           166            449           503     Net profit margin            %             4.0      3.5                 3.5             3.8
Total revenues                        Rs     m        29,652         36,803        48,368
Gross profit                          Rs     m         2,761          3,745         4,674                                           KEY DATA
Depreciation                          Rs     m           381            607           823     Parameters                          Unit               FY07              FY08        FY09
Interest                              Rs     m           543          1,034         1,736     Raw material expenses               % of sales          35.7              34.2      33.900
Profit before tax                     Rs     m         2,003          2,553         2,618     Subcontractor charges               % of sales          33.7              34.4      33.100
Minority Interest                     Rs     m              0             -3          -12     Order book                          Rs m              73,021           113,800     121,970
Prior Period Items                    Rs     m          -363            -22              0    Order book to sales                 x                     2.5               3.1         2.5
Extraordinary Inc (Exp)               Rs     m              0              0             0
Tax                                   Rs     m           676            854           793
                                                                                                                                     NOTES
Profit after tax                      Rs     m           964          1,674         1,813
Gross profit margin                   %                   9.4          10.3            9.8    Incorporated in 1978 as a partnership firm, Nagarjuna Construction Company (NCC)
Effective tax rate                    %                 33.7           33.5          30.3     is one of India's largest infrastructure development companies. It has wide
                                                                                              experience in execution of turnkey projects, townships, industrial structures,
Net profit margin                     %                   3.3            4.6           3.8
                                                                                              multistoried/commercial buildings, roads and highways, bridges, water supply
BALANCE SHEET DATA                                                                            schemes and electrical transmission projects. The company recently entered into the
                                                                                              metal, power and oil & gas industry, wherein it will provide civil and structural
Current assets                        Rs m            24,744         37,684        45,617     services. At the end of June 2009, NCC had an order backlog of Rs 139 bn, which
Current liabilities                   Rs m            13,590         20,839        22,957     was nearly 2.9 times its FY09 revenues.
Net working cap to sales              %                 37.8           46.3          47.3
Current ratio                         x                   1.8            1.8           2.0    NCC reported consolidated topline and bottomline growth of 32% YoY and 8% YoY
Inventory Turnover                    Days                 78           102           105     respectively during FY09. Strong growth in revenue was on account of its strong
Debtors Turnover                      Days                75             98            95     order book position. The company recorded an operating margin of 9.8%, lower by
Net fixed assets                      Rs m             7,200         12,936        18,983     0.5% YoY as compared to the previous fiscal. This led to a 25% YoY increase in
Share capital                         Rs m               417            458           458     operating profits. Further, higher interest costs also wore down on the company as
"Free" reserves                       Rs m             9,601         14,924        16,146     they increased to nearly 3.6% of revenues as against 2.8% during FY08. It may be
                                                                                              noted that NCC's borrowings increased by 73% YoY during FY09.
Net worth                             Rs m            10,155         15,483        17,259
Long term debt                        Rs m             3,572          6,596        13,735     NCC was able to bag orders worth Rs 63 bn during FY09, largely contributed by the
Total assets                          Rs m            32,959         52,603        67,922     company's buildings, water and environment and international projects divisions. This
Interest coverage                     x                   4.7            3.5           2.5    has not only strengthened its order book position but also provides good revenue
Debt to equity ratio                  x                   0.4            0.4           0.8    visibility for the next 2 to 3 years. NCC's buildings and housing, transportation and
Sales to assets ratio                 x                   0.9            0.7           0.7    water projects together account for 47% of the total order book, while its international
Return on assets                      %                 11.0           12.3          11.5     division, which contributed to nearly 17% of revenues, has a share of nearly 22%.
Return on equity                      %                   9.5          10.8          10.5     What is heartening is that NCC's new segments, metal, power and oil & gas and
Return on capital                     %                 15.9           16.1          14.0     mining had a share of nearly 18% in the total order book. In fact, the company sees
Exports to sales                      %                   0.0            0.0           0.0    these segments as growth drivers in years to come.
Imports to sales                      %                   0.0            0.0           0.0
                                                                          GET MORE INFO AT WWW.EQUITYMASTER.COM

								
To top