TTK Prestige- First Cut
Rajesh Desai
Dear Sir/Madam,
TTK Prestige announced its Q3 FY13 results on 16 Jan 2013. The company’s Net Sales increased by 31% YOY to INR437 crore and EBITDA increased by 18% to INR62 crore. EBITDA Margin of the company decreased from 15.8% to 14.2% YOY. PBT increased by 16% yoy to INR58 crore. PAT of the company increased by 28% YOY to INR44 crore with the help of lower charge of Taxes. At the CMP of INR3745, the stock discounts its FY13E EPS of INR114.3 by 32.7x.
DESCRIPTION |
Dec-12 |
Sep-12 |
Dec-11 |
QOQ |
YOY |
|
Net Sales |
437 |
336 |
334 |
30% |
31% |
Total Expenditure | 375 |
286 |
282 |
|
|
|
PBIDT (Excl OI) |
62 |
50 |
53 |
25% |
18% |
EBITDA (%) | 14.2% |
14.8% |
15.8% |
|
|
|
Other Income |
1 |
1 |
1 |
|
|
|
Operating Profit |
63 |
51 |
54 |
|
|
|
Interest |
3 |
4 |
3 |
|
|
|
Exceptional Items |
0 |
0 |
0 |
|
|
|
PBDT |
60 |
47 |
52 |
|
|
|
Depreciation |
2 |
2 |
2 |
|
|
|
PBT |
58 |
45 |
50 |
28% |
16% |
Tax | 14 |
15 |
15 |
|
|
|
Profit After Tax |
44 |
30 |
35 |
46% |
28% |
PAT (%) | 10.1% |
9.0% |
10.3% |
|
|
|
Equity Capital |
11.32 |
11.32 |
11.32 |
|
|
|
Face Value (In Rs) |
10 |
10.00 |
10.00 |
|
|
|
No. of shares |
1.132 |
1.13 |
1.13 |
|
|
|
|
|
|
|
|
|
|
EPS |
39.0 |
26.7 |
30.5 |
46% |
28% |
Regards,
Team Microsec Research
Microsec Capital Limited
Tel: 91 33 30512100
Fax: 91 33 30512020
CA. Rajesh Desai