Nicholas Piramal India has posted a 68% jump in revenues and a 101% jump in PBT for the quarter ended September 30, 2001. However, this is after taking into consideration the scheme of arrangement with Rhone-Poulenc India, and hence the results are not comparable.
Operating Profit (EBDIT)
Operating Profit Margin (%)
Profit before Tax
Profit after Tax/(Loss)
Net profit margin (%)
No. of Shares (eoy) (m)
Diluted Earnings per share
P/E (at current price)
The company recorded a 110 basis point decline in operating margins. However, a huge savings in interest cost resulted in a sharp rise in PBT. During the current quarter, the company incurred VRS and restructuring costs of Rs 165 m. The costs for on-going VRS and restructuring exercise at its Bhandup plant would be accounted in the coming quarters. Tax provision leapfrogged due to new accounting policy on deffered taxation. Further, the tax rebate hirtherto available to the company for its plant in backward area was no longer available. The increase in share capital is on account of shares issued to shareholders of Rhone-Poulenc India as per the scheme of arrangement.
At the current market price of Rs 221, the stock is trading at 15x annualised earnings for 1HFY02.
LEGAL DISCLAIMER: Equitymaster Agora Research Private Limited (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA or Canada, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.
Equitymaster Agora Research Private Limited. 103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India. Telephone: +91-22-61434055. Fax: +91-22-22028550. Email: firstname.lastname@example.org. Website: www.equitymaster.com. CIN:U74999MH2007PTC175407