[T.S.R:10990] Fwd: Panasonic Carbon - CMP Rs 131 - Target Rs 250 - EPS Rs 20, Cash Per Share of Rs 100

---------- Forwarded message ----------
Date: Wed, Sep 16, 2009 at 8:42 AM
Subject: Panasonic Carbon - CMP Rs 131 - Target Rs 250 - EPS Rs 20, Cash Per Share of Rs 100
To:

Hi Friends,

 

Please find attached annual report of Panasonic Carbon.

 

Key highlights:

 

- Panasonic Carbon is Apollo Hospital group company (P Obul Reddy is also in Apollo Hospital Board)

- The company's annualised EPS for FY10 is expected to be Rs 20

- Panasonic Carbon has cash of ~Rs 50 Crs ie: Rs 96/share (It hold it the cash in bank deposits)

- Adjusting for the cash, Panasonic carbon is trading at P/E of 2X FY10E eanrings

 

When investors understand this, the stock could target Rs 250

 

Opinions and feed backs welcome

 

Thanks

 

Audited Financial Results for the Year ended 31st March, 2009

                                                                                                                                                                  Rs.in lakhs

S.No	PARTICULARS	1QFY10 Unaudited	1QFY09 Unaudited	FY09 Audited	FY08 Audited
1	a)Net Sales	671.80	593.18	3039.39	2510.48
	b)Other Operating Income	7.80	3.97	22.51	13.04
2	Expenditure	945.21	733.74	1379.89	2523.52
	a) (Increase)/Decrease in stock in trade and work in progress	-32.64	-3.17	-7.69	2.49
	b) Consumption of raw materials	352.48	214.83	405.12	791.22
	c) Power and fuel	72.92	124.69	466.24	444.10
	d) Employment cost	122.01	114.00	501.54	523.27
	e) Depreciation	21.57	22.91	84.23	98.92
	f) Other expenditure	113.76	76.99	395.31	325.96
	g) Total	526.35	543.04	2518.73	2185.96
3	Profit from Operations before Other Income, Interest & Exceptional Items (1-2)	153.25	54.11	543.17	337.56
4	Other Income	125.93	114.11	420.57	459.68
5	Profit before Interest & Exceptional Items (3+4)	279.18	168.22	963.74	797.24
6	Interest	0.00	0.00	0.00	0.00
7	Profit before Interest & Exceptional Items (5-6)	279.18	168.22	963.74	797.24
8	Exceptional Items	15.33	15.55	61.32	36.49
9	Profit(+) Loss(-) from Ordinary Activities before tax (7+8)	212.68	152.67	902.42	760.75
10	Tax expense	92.59	56.00	312.48	263.26
11	Net Profit(+)/Loss(-) from Ordinary Activities after tax (9-10)	171.26	96.67	589.94	497.49
12	Extraordinary Items (net of tax expense)	0.00	0.00	0.00	0.00
13	Net Profit(+)/Loss(-) for the period (11-12)	171.26	96.67	589.94	497.49
14	Paid-up equity share capital (Face Value of Rs.10/- per Share)	480.00	480.00	480.00	480.00
15	Reserves excluding Revaluation Reserves as per Balance Sheet of previous Accounting Year.	--	--	4789.67	4592.83
16	Earnings Per Share (EPS) - Basic and diluted EPS (in Rs.)	3.57	2.01	12.29	10.36

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