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IPCL on the right track - Views on News from Equitymaster
 
 
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  • Aug 2, 2000

    IPCL on the right track

    IPCL has continued its improved performance in the first quarter of the current fiscal. It has registered an impressive topline growth. Sales have increased due to the continuing improvement in the polymer cycle.

    (Rs m) 1QFY00 1QFY01 Change
    Sales 7,824 10,677 36.5%
    Other Income 110 277 151.7%
    Expenditure 6,307 8,373 32.7%
    Operating Profit (EBDIT) 1,516 2,304 51.9%
    Operating Profit Margin (%) 19.4% 21.6%  
    Interest 626 1,202 92.1%
    Depreciation 682 1,024 50.2%
    Profit before Tax 319 355 11.2%
    Tax - -  
    Profit after Tax/(Loss) 319 355 11.2%
    Net profit margin (%) 4.1% 3.3%  
    No. of Shares (eoy) 249 249  
    Earnings per share* 5.1 5.7  
    *(annualised)      

    IPCL's operational performance gives reason to cheer as the OPM has increased YoY by 220 basis points. The company has posted a significant jump in operating profits. This growth has been fuelled by improved realisations and volumes.

    Historically, IPCL has traded at a high P/E multiple on the back of privatisation. Currently, it trades at 9.6 on 1QFY01 annualised earnings.

     

     

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