Himachal Furturistic Communications Ltd. (HFCL) has reported a metioric growth in topline and other income. Other income has increased due to interest earned on surplus funds. In the fisrt half of FY01 the company has placed shares with the Kerry Packard group, which has resulted in surplus funds. The company has issued 7 m shares during this period.
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*
Operating profits are up handsomely. They were driven primarily by increased sales and improved margins. The OPM of the company is up by 380 basis points.
Historically, the company has traded at a three average multiple of 75. However, the average is skewed due to the sky high valuations receeived in FY00. At Rs 1,329 the company is trading on a multiple of 27.7 on 2QFY01 annualised earnings.
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