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Soffia: Spectacular performance

Jan 22, 2001

Soffia has recorded a YoY growth in net proftis of 290% and the growth in topline is 286%. One of the factors that is responsible for the higher growth rates is its small base. The company has shown superlative operating margins of about 40% for both the quarters this year. The sequential growth figures are also very strong.

(Rs m) 1QFY01 2QFY01 Change
Sales 93 117 25.3%
Other Income* 0 1  
Expenditure 56 69 22.8%
Operating Profit (EBDIT) 37 48 29.0%
Operating Profit Margin (%) 39.8% 40.9%  
Interest 0.1 1  
Depreciation 7 9 31.0%
Profit before Tax 30 38 28.3%
Tax 0.5 1  
Profit after Tax/(Loss) 29 37 26.0%
Net profit margin (%) 31.5% 31.7%  
Diluted number of shares 4 4  
Diluted Earnings per share* 29.3 37.0  
(*Annualised)      

The company has developed a human resource management system that it plans to launch soon. Also it plans to offer this product throug an ASP model.

At a market price of Rs 144 the stock is trading at a P/E multiple of 3 times its 2QFY01annualised earnings.

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