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Three Charts on One of the Quickest Bull Markets in History podcast

Jul 3, 2020

How to come out stronger on the other side of this quick bull market.

Thermax: Buoyant environment but...

Dec 3, 2004

Pune based engineering major, Thermax India, has had a good run on the stock markets over the past couple of months (up 34% since August 2004). On the back of a good performance of both its business segments - energy and environment, the topline of the company recorded a significant 56% growth during the first half of FY05. However, pressure on the operating margins, as well as a decline in other income has seen the company's profits declining by over 22% during 1HFY05.

Siemens: FY05 performance review

Dec 2, 2004

Engineering major, Siemens reported buoyant results during its year ended September 2004 (FY05), reporting nearly 23% topline growth. However, bottomline growth was a sedate 8.6%. The company's expenses rose at a faster clip, as compared to revenues, thereby putting a downward pressure on operating margins. On a consolidated basis (including Siemens Ltd. and Siemens Information Systems Ltd.), the company finished with nearly 28% topline and a none too enthusing 2% bottomline growth during FY05.

BHEL: Power potential

Dec 24, 2003

India’s largest engineering company, BHEL, has again registered a robust increase in the orderbook in the third quarter. Till date, the company has received orders worth more than Rs 45 bn in the period between October-December 2003.

ABB: Will the price sustain?

Sep 17, 2003

The stock price of automation major, ABB has gained significantly in the last few months. The stock has moved up by around 60% in last 8 months. Lets have a look at the reasons for the run in stock price and find how much growth is fundamental.

Cummins: Vital stats...

Aug 28, 2003

The stock price of Cummins India has been consistently on the rise since last 6 months. After having gained around 65%, the question in one’s mind is whether the pace will sustain. To answer this, let’s take a look at Cummins’ business profile and future growth prospects.

Siemens: Performance appraisal

Aug 25, 2003

Engineering majors have done well in the last financial year. Their orderbook sizes have increased significantly. Going forward economic prospects are looking good and the IIP is expected to grow by more than 6%. In this article we take a look at engineering major, Siemens India, its business profile and future prospects.

Cummins: Merger bonanza

Aug 13, 2003

Cummins India Ltd. reported good results for June quarter, showing a healthy growth of about 92% in bottomline on the back of 45% growth in topline and a huge increase in other income. The net profit margin was up 250 basis points. However, operating margins were lower by 300 basis points as compared to same quarter last year.

Siemens: Extraordinary income fillip

May 12, 2003

Engineering major, Siemens declared its first half FY04 results recently. The company reported a healthy 13% growth in operating income and finished the first half with a 54% net profit growth. On first glance, the performance does look very encouraging, but let's take a deeper look to find out more.

Bhel: Signs of healthy FY04

May 2, 2003

Engineering major, Bharat Heavy Electricals Limited's (Bhel) March quarter numbers show a 2% topline and 3% bottomline growth. The performance may look lacklustre, but the fourth quarter, as usual has contributed a bulk of the company's overall FY03 performance. Over 45% of Bhel's FY03 sales and nearly 73% of profits have been contributed by the 4QFY03 numbers. In effect, Bhel's March quarter magic continues.

ABB: Order strength continues…

Apr 10, 2003

T&D equipment major, ABB Ltd.'s growth story continues. The company has reported a 41% growth in March quarter (1QFY04) net profits, backed by an encouraging 18% growth in topline. However, at the operating level, margins dipped to 3.9% indicating competitive environment.

Engineering: Looking at strong FY04

Apr 7, 2003

While most sectors finished FY03 on a glum note, Engineering companies had a whale of a time. Almost all engineering companies finished FY03 with gains in performance and consequently, in stock price.

ABB: Product focus

Mar 10, 2003

ABB India has had a good run, both in terms of financial and consequently, stock performance in FY03. This T&D equipment major finished 2002 with a 13% topline and a 25% bottomline growth (excluding extraordinary gains from sale of air handling equipment business). The ABB India stock has gained around 40% in the last one year.

Bhel: A review

Dec 17, 2002

When we reported on Bharat Heavy Electricals Limited (Bhel) September quarter performance, the headline read 'Orderbook at Rs 135 bn'. The headline indicated the way we view Bhel's story. This company's performance cannot be judged on a quarter to quarter basis.

Thermax: Strong performance continues…

Nov 12, 2002

Thermax Limited's September quarter numbers reiterate the company's comeback. It has posted a huge 48% rise in turnover during the quarter and seen an encouraging expansion in its operating margins. Higher tax provision has pruned bottomline growth to 24% YoY.

Bhel: Orderbook at Rs 135 bn

Oct 29, 2002

Engineering behemoth, Bharat Heavy Electricals Limited (Bhel) has posted an 11% YoY dip in 2QFY03 net sales. A dip in the operating margins and higher tax provisions for the quarter resulted in a 26% dip in bottomline. This performance is however better than its 1QFY03 performance where it declared a net loss of Rs 489 m. Also, on a half yearly basis, the picture looks very positive.

Bhel: June quarter in red, again...

Jul 31, 2002

Engineering behemoth, Bharat Heavy Electricals Limited (Bhel) has posted a net loss of Rs 489 m in its first quarter ended June 30, 2002. The performance is much better than the Rs 1,252 m loss it reported in 1QFY02. However, the results again bring to fore the volatile nature of Bhel's earnings. The company had finished FY02 with over 14% topline and 44% bottomline growth.

Exports mar Cummins topline

Jul 29, 2002

Cummins India has has logged in a 29% YoY decline in net profit during 1QFY03. Lower net sales (down over 20%) were largely a result of lower exports during the quarter. This largely contributed to the decline in bottomline.

Thermax: Getting better with time

Jul 17, 2002

Thermax Limited posted a net profit of Rs 27 m during the June quarter in the current year, as compared to a net loss of Rs 17 m in the corresponding period last fiscal. Sales during the quarter were up 21% YoY. Quoting the company's release, this is the first time in the last five years that Thermax has posted profits in 1Q, usually considered to be a dull period for its target markets.

Cummins: Inflection point?

Jun 13, 2002

Diesel engines major, Cummins India, declared a 14% decline in FY02 topline and a 21% drop in bottomline. The drop in bottomline came despite a 61% surge in other income.

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