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.

Hawkins Cookers Limited - Analysis of Quarterly Results

Net Sales of the Company grew 14.72% to 61.78 crores from 53.85 crores Y-o-Y. Net Profit for the same period grew 13.78% to 8.09 crores from 7.11 crores.

Sales percentage distribution for June quarter 2010

Hawkins Cookers Limited - Analysis of Annual Report 2009-10

Business Highlight :

The company operates in a single segment, manufacture, trading and sale of Kitchenware. Both Sales and Profits   are the highest ever in the history of this company. Two new pressure cooker models were launched this year with sales pointing to 89,000 units. Four new cookware items were also launched with sales aggregating to 27,000 units. 

The Company claims that their products' demand is higher than their supply and they're implementing plans to increase the supply of their products. Due to this, FOB value of exports was also down due to delayed shipments.

The Company's plants are located at Thane, Hoshiarpur and Jaunpur District. The Company has taken into possession 20 acres of land provided by the Gov. of Punjab, the conveyance of which has yet to be finalised.