CMC has recored a 17% growth in topline for FY01. While the growth in the topline has not be so signficant the net profit has jumped by an impressive 92%. The company has managed to improve its operating margins by 200 basis points for FY01. This is mainly due to the staff costs of the company coming down from 23% of revenues in FY00 to 18% in FY01.
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Operating Profit (EBDIT)
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At a current market price of Rs 253, the stock is trading at a P/E multiple of 16 times its FY01 earnings.
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