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Bajaj Hindusthan: Low realisations - Views on News from Equitymaster
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Bajaj Hindusthan: Low realisations
Sep 7, 2007

Performance summary
  • Reports 17% YoY growth in the topline for 3QFY07. While the sugar revenues grow by 25% YoY, the distillery revenues falls by 34% YoY.

  • Higher cane prices, higher labour cost and other expenses lead to the operating profits fall by 170% YoY in 3QFY07 and margins enter the negative zone.

  • Higher operating expenses and lower revenue growth have led to the losses for the company at the bottomline level.

Financial performance

Rs(m) 3QFY06 3QFY07 Change 9mFY06 9mFY07 Change
Gross sales 4,301 5,153 20% 11,382 13,664 20%
Less: Excise duty 213 352 65% 592 857 45%
Net sales 4,089 4,802 17% 10,791 12,807 19%
Expenditure 3,173 5,440 71% 8,218 12,771 55%
Operating profit (EBDITA) 916 (638) -170% 2,573 36 -99%
EBDITA margin (%) 22.4% -13.3%   23.8% 0.3%  
Other income 191 139 -27% 266 356 34%
Interest (56.9) 202 -455% (37) 300  
Depreciation 198 349 77% 566 917 62%
Profit before tax 966 (1,050) -209% 2,310 (826) -136%
Tax 327 (445) -236% 783 (431) -155%
Profit after tax/(loss) 639 (605) -195% 1526 (395) -126%
Net profit margin (%) 15.6% -12.6%   14.1% -3.1%  
No. of shares (m) 141.4 141.4   141.4 141.4  
Diluted earnings per share (Rs)         (0.1)  

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