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Henkel Spic: Story of turnaround - Views on News from Equitymaster
 
 
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  • Jul 27, 2000

    Henkel Spic: Story of turnaround

    Henkel Spic India Ltd has reported a YoY 27% growth in its topline in the 2QFY01. The company has reported a profits of Rs 12 m in the current quarter from the loss of Rs 5 m in the corresponding previous quarter. The bottomline growth is also boosted by reduction of 75% in the interest cost.

    (Rs m) 2QFY00 2QFY01 Change
    Sales 655 830 26.7%
    Other Income 1 1 111.2%
    Expenditure 622 800 28.6%
    Operating Profit (EBDIT) 33 31 -8.2%
    Operating Profit Margin (%) 5.1% 3.7%  
    Interest 26 6 -75.5%
    Depreciation 14 14 -0.1%
    Profit before Tax -5 12  
    Tax - -  
    Profit after Tax/(Loss) (5.37) 12.16  
    Net profit margin (%) -0.8% 1.5%  
    No. of Shares (eoy) (m) 74 116  
    Diluted number of shares 116 116  
    Diluted Earnings per share*   0.4  
    *(annualised)      

    However the profit margins of the company declined due to increase in the inventory cost and other expenditure.

    At the current market price of Rs 55, Henkel Spic is trading at a P/E multiple of 131 times its 2QFY01 annualised earnings. The company has just broke even by making profits in the first two quarters. The valuations are expected to be adjusted with the year end results.

     

     

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