X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2018 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Control Print: Weak Demand Hurts Topline - Views on News from Equitymaster
The India Letter
  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Control Print: Weak Demand Hurts Topline
Nov 23, 2016

Control Print has announced the second quarter results of financial year 2016-2017 (2QFY17). While the topline declined by 9.3% YoY, the bottomline declined by 10% YoY during the quarter.

Performance summary:
  • Total income declined by 9.3% YoY during 2QFY17. Net sales declined by 10.5% YoY. Other operating income increased to Rs 5 million compared to Rs 0.6 million in 2QFY16. Net sales declined on the back of lesser demand during the quarter.
  • Due to decline in the topline, operating profit declined by 10.3% YoY and operating margin stood at 28.8%.
  • Depreciation expenses increased by 43.3% YoY. This is on the back of SAP capitalization. The company reported an Exceptional item which represents the profit on account of sale of office premises at Bangalore, profit on sale of investment and interest paid under Maharashtra Settlement of Arrears in Dispute Act 2016.
  • Net profit (before considering extraordinary item) declined by 10% YoY on the back of decline in operating profit and an increase in depreciation expense. This was partly offset by decline in finance cost and tax outgo. Extraordinary items primarily consists of liability no longer required written back.
  • PAT margins stood at 19.7% during 2QFY17.

    Financial Snapshot
    (In Rs m) 2QFY16 2QFY17 Change 1HFY16 1HFY16 Change
    Net Sales 366 328 -10.5% 683 660 -3.4%
    Other operating income 0.6 5 745.0% 1 10 1131.3%
    Total Income 367 333 -9.3% 684 670 -2.0%
    Total Expenses 260 237 -8.9% 493 484 -1.9%
    Operating profit (EBITDA) 107 96 -10.3% 190 186 -2.1%
    Operating profit margin (%) 29.2% 28.8% 27.9% 27.8%
    Other Income 3 4 45.1% 3 4 36.9%
    Interest 7 3 -65.7% 10 5 -44.7%
    Exceptional Items -2 0 6
    Depreciation 6 9 43.3% 12 18 50.9%
    PBT 96 86 -10.3% 172 173 0.7%
    Tax 23 21 -11.3% 39 40 3.8%
    Net Profit 73 66 -10.0% 133 133 -0.2%
    Extraordinary Items 4 4
    Net Profit After Extraordinary Item 73 70 -4.4% 133 137 2.9%
    Net Profit margin 19.9% 19.7% 19.5% 19.8%
    No. of shares (m) 15.7
    Earnings per share (Rs) 17.1
    P/E ratio (x) * 14.1

    * On trailing 12 month basis

To Read the Full Story, Subscribe or Sign In



DISCLOSURES UNDER SEBI (RESEARCH ANALYSTS) REGULATIONS, 2014
INTRODUCTION:
Equitymaster Agora Research Private Limited (hereinafter referred to as "Equitymaster"/"Company") was incorporated on October 25, 2007. Equitymaster is a joint venture between Quantum Information Services Private Limited (QIS) and Agora group. Equitymaster is a SEBI registered Research Analyst under the SEBI (Research Analysts) Regulations, 2014 with registration number INH000000537.

BUSINESS ACTIVITY:
An independent research initiative, Equitymaster is committed to providing honest and unbiased views, opinions and recommendations on various investment opportunities across asset classes.

DISCIPLINARY HISTORY:
There are no outstanding litigations against the Company, it subsidiaries and its Directors.

GENERAL TERMS AND CONDITIONS FOR RESEARCH REPORT:
For the terms and conditions for research reports click here.

DETAILS OF ASSOCIATES:
Details of Associates are available here.

DISCLOSURE WITH REGARDS TO OWNERSHIP AND MATERIAL CONFLICTS OF INTEREST:
  1. 'subject company' is a company on which a buy/sell/hold view or target price is given/changed in this Research Report.
  2. Except for Control Print Limited, Equitymaster has no financial interest in any other Subject Company forming a part of this report.
  3. Equitymaster's investment in the subject company is as per the guidelines prescribed by the Board of Directors of the Company.
  4. Equitymaster's Associates and Research Analyst or his/her relative doesn't have any financial interest in the subject company.
  5. Neither Equitymaster, it's Associates, Research Analyst or his/her relative have actual/beneficial ownership of one percent or more securities of the subject company at the end of the month immediately preceding the date of publication of the research report.
  6. Neither Equitymaster, it's Associates, Research Analyst or his/her relative have any other material conflict of interest at the time of publication of the research report.
  7. Equitymaster's technical team/other research services have given a 'Buy at lower' view on Control Print Limited.
DISCLOSURE WITH REGARDS TO RECEIPT OF COMPENSATION:
  1. Neither Equitymaster nor it's Associates have received any compensation from the subject company in the past twelve months.
  2. Neither Equitymaster nor it's Associates have managed or co-managed public offering of securities for the subject company in the past twelve months.
  3. Neither Equitymaster nor it's Associates have received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months.
  4. Neither Equitymaster nor it's Associates have received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months.
  5. Neither Equitymaster nor it's Associates have received any compensation or other benefits from the subject company or third party in connection with the research report.
GENERAL DISCLOSURES:
  1. The Research Analyst has not served as an officer, director or employee of the subject company.
  2. Equitymaster or the Research Analyst has not been engaged in market making activity for the subject company.
Definitions of Terms Used:
  1. Buy recommendation: This means that the subscriber could consider buying the concerned stock at current market price keeping in mind the tenure and objective of the recommendation service.
  2. Hold recommendation: This means that the subscriber could consider holding on to the shares of the company until further update and not buy more of the stock at current market price.
  3. Buy at lower price: This means that the subscriber should wait for some correction in the market price so that the stock can be bought at more attractive valuations keeping in mind the tenure and the objective of the service.
  4. Sell recommendation: This means that the subscriber could consider selling the stock at current market price keeping in mind the objective of the recommendation service.
Feedback:
If you have any feedback or query or wish to report a matter, please do not hesitate to write to us.

Small Investments
BIG Returns

Zero To Millions Guide 2018
Get our special report, Zero To Millions
(2018 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

CONTROL PRINT SHARE PRICE


Dec 15, 2017 01:41 PM

TRACK CONTROL PRINT

  • Track your investment in CONTROL PRINT with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

CONTROL PRINT 8-QTR ANALYSIS

COMPARE CONTROL PRINT WITH

MARKET STATS