FIRST CUT - CAIRN INDIA
RAJESH DESAI
Dear Sir,Madam
Cairn India Ltd. announced its Q4’12 results as well as its annual results today i.e. April 20,2012
The company’s Q4 topline grows at ~18%YoY and stood at INR3651.34 cr while its PAT stood at INR2186.23 cr which is down both on QoQ and YoY basis. Both EBITDA and PAT margins decline sequentially on QoQ and YoY basis. However the company reported growth both in topline and bottomline
figures of FY12 over the corresponding year FY11.
The following is the snapshot of Cairn India’s performance on consolidated basis:
|
Consolidated |
||||||||
|
Description |
Q4'12 |
Q3'12 |
Q4'11 |
QoQ(%) |
YoY(%) |
FY12 |
FY11 |
YOY(%) |
|
Total Income |
3651.34 |
3,096.76 |
3654.47 |
17.91 |
-0.09 |
11860.06 |
10277.93 |
15.39 |
|
Total Expenditure |
951.97 |
727.52 |
633.38 |
|
|
2606.24 |
2023.52 |
|
|
PBIDT(ExclOI) |
2699.37 |
2,369.24 |
3021.09 |
13.93 |
-10.65 |
9253.82 |
8254.41 |
12.11 |
|
EBITDA margins |
74% |
76.51% |
82.67% |
(251)bps |
(867)bps |
|
|
|
|
Other Income |
92.27 |
413.82 |
38.36 |
|
|
938.01 |
128.79 |
|
|
Operating Profit |
2791.64 |
2783.06 |
3059.45 |
|
|
10191.83 |
8383.20 |
|
|
Interest |
30.54 |
24.01 |
39.34 |
|
|
225.8 |
300.26 |
|
|
Exceptional Items |
0 |
0 |
0.00 |
|
|
102.85 |
|
|
|
PBDT |
2761.1 |
2759.05 |
3020.11 |
|
|
9863.18 |
8082.94 |
|
|
Depreciation |
401.34 |
378.72 |
464.34 |
|
|
1440.3 |
1192.96 |
|
|
PBT |
2359.76 |
2380.33 |
2555.77 |
|
|
8422.88 |
6889.98 |
|
|
Tax |
173.53 |
118.40 |
97.98 |
|
|
485.73 |
555.58 |
|
|
Profit After Tax |
2186.23 |
2261.93 |
2457.79 |
-3.35 |
-11.05 |
7937.15 |
6334.40 |
25.30 |
|
PAT margins |
60% |
73.04% |
67.25% |
(1304)bps |
(725)bps |
|
|
|
|
Minority Interest |
|
|
|
|
|
|
|
|
|
Share of Associates |
|
|
|
|
|
|
|
|
|
Consolidated Net Profit |
2186.23 |
2261.93 |
2457.79 |
|
|
7937.15 |
6334.40 |
25.30 |
|
Equity Capital |
1907.84 |
1902.97 |
1901.92 |
|
|
1907.4 |
1901.92 |
|
|
Face Value(InRs) |
10 |
10.00 |
10.00 |
|
|
10 |
10.00 |
|
|
EPS |
11.46 |
11.85 |
12.87 |
-3.30 |
-10.96 |
41.61 |
33.31 |
24.94 |
|
Figures in INR Crore.EPS represents Diluted EPS |
|
|
|
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NOTE:
4427475 additional equity shares were issued during the current quarter on exercise of stock options by the employees of the Cairn India group.
Regards,
Team Microsec Research
Microsec Capital Limited
Tel: 91 33 30512100
Fax: 91 33 30512020
--
CA. Rajesh Desai