May 20, 2000|
Interest from share applications saves Kale's bottomline
Kale Consultants has reported disappointing results for FY2000. If it were not for the interest received from share application money (the company had an IPO at a premium of Rs 110 during the year) the company's bottomline would have been badly mauled. The company has overshot its projected expenditure on the expansion primarily due to a higher interest costs.
|Operating Profit (EBDIT)
|Operating Profit Margin (%)
|Profit before Tax
|Profit after Tax/(Loss)
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|Earnings per share
However, the main problem seems to be that there has hardly been any growth in the business itself when one compares Kale's topline growth with those of the other software companies. The company mainly sells products to the banking and the airline industry and a topline growth of 12% is very disappointing. The operating margins have crashed from over 30% last year to 11.3% in the current year. The stock quotes at a Rs 158 (52 week range 815/145) at a price earnings of 27.7 times.
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