ESS DEE ALUMINIUM LIMITED - An Analysis

Recommendation : BUY
December 29, 2010.

Debt/Equity of ESS DEE ALUMINIUM LIMITED as of now has dropped to 0.42 vs 0.35 as in March 2010 quarter. Reserves and Surplus have increased by 45% at 474.68 crores in the September quarter from 327.57 crores in the March quarter this year. Capital Employed has increased by 29% to 814.14 crores in September quarter from 632.15 crores in March quarter.

Godrej Consumer Products Limited - An Analysis

Recommendation : BUY

December 29, 2010

Debt/Equity of Godrej Consumer Products Limited as of now has increased to 1.24 vs 0.68 as in March 2010 quarter on account of increased debts due to increased Goodwill on Consolidation. Reserves and Surplus have increased by 69% at 1560.83 crores in the September quarter from 923.87 crores in the March quarter this year. Capital Employed has increased by 94% to 1201.6 crores in September quarter from 619.28 crores in March quarter.

Marico Limited - An Analysis

Recommendation : BUY

December 22, 2010

Debt/Equity of Marico Limited as of now has improved at 0.48 vs 0.68 as in March 2010 quarter. Reserves and Surplus have increased by 29% at 765.85 crores in the September quarter from 593.03 crores in the March quarter this year. Capital Employed has increased by 17% to 1030.99 crores in September quarter from 883 crores in March quarter due to increase in Fixed Assets.

Dabur India Limited - An Analysis

Recommendation : HOLD

December 21, 2010

Dabur India's Debt/Equity as in September 2010 stands on 0.27 as compared to 0.19 for March 2010. Sales for September quarter have increased 15% year-on-year, while it increased 6% quarter-on-quarter. Operating Profit Margins are at 22% for the September quarter, while they were 21% for the corresponding quarter last year. They were 16% for the June quarter, on account of a bit higher Advertising and Publicity Expenses.

Timex Group India Limited - Analysis

Recommendation : SELL
December 16, 2010

Timex Group, as of now, is a debt-free company. It has 12.61 crores of Fixed Assets and 57.54 crores of Working Capital. 

The breakdown percentage of Quarterly Sales is given below. Their Operating Profit Margins have increased in the Septmeber quarter as compared to the same quarter last year.

Zydus Wellness - Analysis of September quarter results

Quarterly Profit and Loss Statement of Zydus Wellness

The September quarter of Zydus Wellness came out with flying colours with increase in operating profit and net profit margins, as is visible from the table given below. Sales increased 23% this quarter year-on-year. Operating profit margins, this quarter, have increased 23% year-on-year as compared to 21% last year. In June quarter this year, Operating Profit Margin was only 14%. So, Operating profit margins really shot this quarter. In respect to that, Net Profit Margins also shot to 17% as compared to 13% last year, this quarter.

Page Industries - Analysis of September 2010 Quarter result

Percentage Breakdown of Quarter Results
crores	Sep-10		Sep-09		Jun-10
Income from Operations	126.41		87.52		119.7
Raw Materials	66.64	53%	38.79	44%	69.01	58%
Purchase of traded goods	0.18	0%	0	0%	0.19	0%
Employee Cost	21.16	17%	14.21	16%	20.86	17%
Depreciation	2.35	2%	2.21	3%	2.17	2%
Other Expenditure	15.42	12%	13.87	16%	15.99	13%
Net Profit	16.35	13%	10.55	12%	13.69	11%

Bajaj Corp - Providing opportunity

Bajaj Corp IPO came at a price of Rs. 660 / share. It got listed at rs. 720. This quarter, the IPO fees ate into its profits. It has retrested back towards sub 600 levels.

At this level, it seems value to me at a PE of 20, with a strong branding, though 95% of its revenues come from a single product.

Delta Corp Ltd.

Delta Corp recently saw investments from Rakesh Jhunjhunwala & R. Damani. He invested in at Rs. 52 / share, which is quiet approximate to the company's total assets per share. At this moment, within a short time, this company has run off to Rs. 130. There are reports regarding their foraying into Sri Lanka, particularly when the Sri Lankan government has legalised gambling their country in wake of major tourist influx. Delta Corp is expected to open up a casino within six months there. Meanwhile, it has commissioned one more boat for its gaming operations. Overall, this company is in news for allkinds of activities.

Regarding valuations, this company is yet to set a trend. There is no clear picture over the kind of its earnings, though, its footfalls in its casinos have been increasing. It also holds a certain other casino controlled by a subsidiary of Advani Hotels & Resorts. People must have a cautionary approach while investing into it at this moment. Its no longer cheap.

Hawkins Cookers Limited - September Quarter Results Analysis

crores	Sep-10			Sep-09			Jun-10
Income from Operations	84.92			75.22			61.78
Raw Materials	27.88	33%		18.86	25%		24.29	39%
Purchase of traded goods	5.61	7%		5.23	7%		5.66	9%
Discounts	9.04	11%		7.92	11%		3.68	6%
Employees cost	9.06	11%		7.73	10%		7.99	13%
Depreciation	0.46	1%		0.41	1%		0.45	1%
Other Expenditure	18.45	22%		17.34	23%		15.04	24%
Net Profit	8.03	9%		10.1	13%		8.09	13%

Year-on-year, it's raw materials which has hurt Hawkins. Quarter-on-quarter, it's the discounts which has made the difference. Overall, half-yearly balance-sheet is excellent. ROCE is expected to be above 50% going the year forward.