PSLH by factica

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									                                                                                             Regd off: Kachigam, Daman, U.T. of Daman & Diu - 396 210
PSL LIMITED                                                                                  E-Mail:    ggehani@gmail.com
                                                                                             Web site: www.psllimited.com
                                                                                             Telephone: (0260) 2244 496 Fax: (0260) 2241 932
CAPITAL GOODS                                                       MISCELLANEOUS            Tr agent: Karvy Computershare, Vithalrao Nagar, Madhapur, Hyderabad - 81
Chairman: Y. P. Punj                                                            SEC: G. Gehani (Director)                              AUD: Suresh C. Mathur & 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
 1987   526801             PSLL:IN     10           159.5          26.3           -49.8         7.2          4.2         3.1           6,812.2              244.5       INE474B01017
SHAREHOLDING                                                      FX Transaction (FY09)                             ADJUSTED DAILY SHARE PRICE DATA
Indian Promoters            : 49.1%               Exports (fob)          Rs m      715                (Rs)
Foreign collaborators       :  0.0%               Imports (cif)          Rs m 21,860
Indian inst/Mut Fund        : 14.4%               Fx inflow              Rs m      715         600
FIIs/GDR                    : 13.5%               Fx outflow             Rs m 21,882                                                                         DAILY
Free float                  : 22.9%               Net fx                 Rs m -21,167
Shareholders                : 15,214                                                                                                                         100 DMA

                           No. of months                   12            12            12      400
                             Year ending             31/03/07      31/03/08      31/03/09
EQUITY SHARE DATA
High                                   Rs                 266            588          400
Low                                    Rs                 190            191            60
Sales per share                        Rs               422.0          485.5        756.4      200
Earnings per share                     Rs                19.1           19.8         22.2
Cash flow per share                    Rs                32.1           32.4         38.3
Dividends per share                    Rs                5.00           5.00         5.00
Dividend yield (eoy)                   %                  2.2            1.3           2.2
                                                                                                 0
Book value per share                   Rs               102.9          129.5        161.7
Shares outstanding (eoy)               m                34.20          42.71        42.71        Aug-06             Jun-07            Feb-08                Nov-08           Aug-09
Bonus/Rights/Conversions                                   PP             BC             -
Price / Sales ratio                    x                   0.5            0.8          0.3                               No. of months                 12            12            12
Avg P/E ratio                          x                 11.9           19.7         10.4                                  Year ending           31/03/07      31/03/08      31/03/09
                                                                                              CASH FLOW
P/CF ratio (eoy)                       x                   7.1          12.0           6.0
Price / Book Value ratio               x                   2.2            3.0          1.4    From Operations                         Rs   m       2,314             1,095      4,340
Dividend payout                        %                 26.2           25.3         22.5     From Investments                        Rs   m      -1,794            -1,749     -7,235
Avg Mkt Cap                            Rs m             7,798         16,636        9,823     From Financial Activity                 Rs   m        -456             3,396      1,023
No. of employees                       `000                NA               3            3    Net Cashflow                            Rs   m          64             2,742     -1,872
Total wages/salary                     Rs m               470            623          706
Avg. sales/employee                    Rs Th               NA        8,293.6     12,922.0                                       INTERIM RESULTS
Avg. wages/employee                    Rs Th               NA          249.2        282.4                                           2QFY09   3QFY09            4QFY09         1QFY10
Avg. net profit/employee               Rs Th               NA          337.6        379.2     Net sales                   Rs    m     6,438    9,753            12,311          6,333
                                                                                              Gross profit                Rs    m       487      664               625            743
INCOME DATA                                                                                   Gross profit margin         %              7.6      6.8               5.1          11.7
Net Sales                              Rs     m        14,433        20,734        32,305     Net profit                  Rs    m       216      247               136            226
Other income                           Rs     m           274           448           890     Net profit margin           %             3.4       2.5               1.1            3.6
Total revenues                         Rs     m        14,707        21,182        33,195
Gross profit                           Rs     m         1,514         1,923         2,210
Depreciation                           Rs     m           445           539           688
Interest                               Rs     m           435           579         1,027
Profit before tax                      Rs     m           908         1,253         1,385
Minority Interest                      Rs     m              0             0             0
Prior Period Items                     Rs     m              0             0             0
Extraordinary Inc (Exp)                Rs     m              0             0             0
Tax                                    Rs     m           255           409           437
Profit after tax                       Rs     m           653           844           948
Gross profit margin                    %                 10.5            9.3           6.8
Effective tax rate                     %                 28.1          32.6          31.6
Net profit margin                      %                   4.5           4.1           2.9

BALANCE SHEET DATA
Current assets                         Rs m            10,859        16,971        47,901
Current liabilities                    Rs m             5,791         8,365        42,463
Net working cap to sales               %                 35.1          41.5          16.8
Current ratio                          x                   1.9           2.0           1.1
Inventory Turnover                     Days               157           131           393
Debtors Turnover                       Days                55            61            61
Net fixed assets                       Rs m             5,131         6,391        12,973
Share capital                          Rs m               341           426           426
"Free" reserves                        Rs m             3,164         5,257         6,466
Net worth                              Rs m             3,519         5,530         6,905
Long term debt                         Rs m             5,061         8,880        11,419
Total assets                           Rs m            16,015        23,405        60,917
Interest coverage                      x                   3.1           3.2           2.3
Debt to equity ratio                   x                   1.4           1.6           1.7
Sales to assets ratio                  x                   0.9           0.9           0.5
Return on assets                       %                 12.7            9.9         10.8
Return on equity                       %                 18.6          15.3          13.7
Return on capital                      %                 15.7          12.7          13.2
Exports to sales                       %                   3.9         26.6            2.2
Imports to sales                       %                 36.2          41.5          67.7
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