Sterlite Industries, the controversial suitor of Bharat Aluminium, has reported its third quarter results for FY01.
Operating Profit (EBDIT)
Operating Profit Margin (%)
Profit before Tax
Profit after Tax/(Loss)
Net profit margin (%)
No. of Shares (eoy) (m)
Diluted earnings per share*
P / E ratio
The sales of the company have increased substantially for 9m FY01, which is mainly due to copper prices remaining firm in the first half of the company's financial year. Also, the company initiated a two phase de-bottlenecking programme in FY01 to increase capacity by 50,000 tonnes per year. The increased capacity was scheduled to be completed by March '01. The added capacity could have also contributed to the topline growth. However, over the last three quarters sales have been sliding.
The rise in operating profits seem to be driven largely by increased sales as OPM have declined by 170 basis points in 3QFY01. However, over the last three quarters of FY01 the OPM has increased by 110 basis points from 10.8% to 11.9%.
Interest costs QoQ have also been declining. In the past two quarters the interest costs have declined YoY. The effective tax rate for the company works out to 9%.
At Rs 106.5 the company trades on a multiple of 4.6x 3QFY01 annualised earnings and 4.3x 9m FY01 annualised earnings.
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