Archies's dissenting profit growth in 1Q - Views on News from Equitymaster

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Archies's dissenting profit growth in 1Q

Jul 24, 2000

Archies Greetings & Gifts Ltd's profits dropped in the 1QFY01 to Rs 17 m. The margins of the company declined to 24.5% (from 25.6% in 1QFY00) due to 53% increase in the staff cost.

(Rs m) 1QFY00 1QFY01 Change
Sales 115 113 -1.9%
Other Income 1 2 24.9%
Expenditure 86 85 -0.4%
Operating Profit (EBDIT) 29 28 -6.0%
Operating Profit Margin (%) 25.6% 24.5%  
Interest - 1  
Depreciation 2 3 11.1%
Profit before Tax 28 26 -9.0%
Tax 8 9 6.7%
Profit after Tax/(Loss) 20 17 -15.6%
Net profit margin (%) 17.3% 14.9%  
No. of Shares (eoy) (m) 3.3 6.5  
Diluted number of shares 6.5 6.5  
Diluted Earnings per share* 12.2 10.3  
*(annualised)      

The company is in the process of implementing a complete change in distribution and retail network. It has added 14 franchisees during the quarter taking the total to 447. It has also entered into e-commerce activities through its subsidiary and has launched a vertical portal for online shopping.

At the current market price of Rs 240, Archies is trading at a P/E multiple of 23 times its 1QFY01 annualised earnings. Its 52 week P/E range was 25-75 times.


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