[image: PPFAS]<http://click.icptrack.com/icp/relay.php?r=17706065&msgid=309991&act=QAY9&c=240789&destination=http%3A%2F%2Fwww.ppfas.com> *1st February 2010* *Inside this report...* Parag's View <#12687c306a0095ec_pv> What's your Networth? <#12687c306a0095ec_nw> Solvay Pharma India Ltd.: Q4 CY09 Result Update <#12687c306a0095ec_solvay> Jyothy Laboratories Ltd: Q3 FY10 Result Update <#12687c306a0095ec_jl> Jyoti Structures Ltd: Q3 FY10 Result Update <#12687c306a0095ec_js> ICRA Ltd: Q3 FY10 Result Update <#12687c306a0095ec_icra> Oracle Financial Services Software Ltd: Q3 FY10 Result Update<#12687c306a0095ec_ofss> Marico Ltd: Q3 FY10 Result Update <#12687c306a0095ec_marico> *Parag's Views* >From the Archives... Lets keep the principles of Value Investing on top of our mind. Let us understand this with the help of an example.
If you were thinking of buying a new TV set for your home, there can be two ways of comparing for the purpose of decision-making. One being the comparison of a new TV with the old one that you already own (comparing with the past). Second is when you are at the TV store and you have lot of options to choose from at the store. Thus, the decision whether to buy a new TV set has been replaced with the question of which TV set to buy. more...<http://click.icptrack.com/icp/relay.php?r=17706065&msgid=309991&act=QAY9&c=240789&destination=http%3A%2F%2Fwww.ppfas.com%2Fresearch%2Fereports%2Fweek%2F010210%2Findex.php%23pv> *What's your Networth?* Kavitha Menon | [email protected] When you evaluate a company's financial performance, you look at its growth in revenues and profits year on year. Such an evaluation gives us a picture of the company's performance. Similarly when you wish to evaluate your own progress in financial terms an objective measure is your networth. Networth in the simplest terms is Assets less Liabilities. Calculating networth is the first step in a financial plan. This is because it gives an idea of the person's financial situation at present. His future cash flows plus assets are allocated towards various goals and hence the financial planner needs to list all free assets. more...<http://click.icptrack.com/icp/relay.php?r=17706065&msgid=309991&act=QAY9&c=240789&destination=http%3A%2F%2Fwww.ppfas.com%2Fresearch%2Fereports%2Fweek%2F010210%2Findex.php%23nw> *Solvay Pharma India Ltd.: Q4 CY09 Result Update* Hiren Samani | [email protected] Solvay Pharma India Ltd. (SPIL) reported excellent set of numbers for the fourth quarter ended December 2009. The Y-o-Y performance is as follows: - Net Revenues increased by almost 20% from Rs. 551.6 Mn. in Q4CY08 to Rs. 661 Mn. in Q4CY09. - SPIL witnessed a jump of close to 25% & 38% in Materials Cost & Staff Costs respectively. - However, with a fall in Other Expenses to the tune of 14% Y-o-Y, the company managed to register a Y-o-Y increase of 52.7% in Operating Profits to Rs. 155.1 Mn. for Q4CY09. more...<http://click.icptrack.com/icp/relay.php?r=17706065&msgid=309991&act=QAY9&c=240789&destination=http%3A%2F%2Fwww.ppfas.com%2Fresearch%2Fereports%2Fweek%2F010210%2Findex.php%23solvay> *Jyothy Laboratories Ltd: Q3 FY10 Result Update* Ruchak Mehta | [email protected] Jyothy Laboratories Ltd (JLL) reported a satisfactory set of numbers for the December quarter FY10. On a y-o-y standalone basis, Net Sales increased by 13.55% from Rs.1,192 mn to Rs.1,353.5 mn while profits increased by 24.97% from Rs.134.8 mn to Rs.168.4 mn. On a segmental level, Soaps and Detergents (comprises fabric whitener, detergent, dishwash bar and soaps) sales grew by 13.7% while Home Care (comprises mosquito coils, dishwash scrubber and incense sticks) sales grew by 18.7%. Exo, the dishwash bar, is on its move towards a national rollout and the company intends to complete this by Mar 2010. With this, Exo will be a Rs.150 crore brand, commented Mr. M.P. Ramachandran – Chairman and MD. more...<http://click.icptrack.com/icp/relay.php?r=17706065&msgid=309991&act=QAY9&c=240789&destination=http%3A%2F%2Fwww.ppfas.com%2Fresearch%2Fereports%2Fweek%2F010210%2Findex.php%23jl> *Jyoti Structures Ltd: Q3 FY10 Result Update* Anuj Anandwala | [email protected] *Steady Quarter!* *Performance Review:* Jyoti Structures Ltd. (JSL), for the quarter ended Dec'09 has maintained its growth momentum with a 18% and 29% rise in top and bottom line respectively. Net Revenues for Q310 stood at Rs. 5,087Mn v/s Rs. 4,302Mn for Q309 and for the 9 months ended FY10 it was at Rs. 14,630Mn as against Rs. 12,471Mn for the corresponding 9 months of last year. The share of Transmission projects to revenues stood @ 72%, Rural Electrification @ 15% and Sub-stations @ 13%. Operating margins (OPM) have dipped marginally by 32 bps to 11.7% for Q310 v/s 12% for Q309. Operating Profit showed a 15% growth to Rs. 594Mn for the current quarter v/s Rs. 516Mn for the corresponding quarter of last year. more...<http://click.icptrack.com/icp/relay.php?r=17706065&msgid=309991&act=QAY9&c=240789&destination=http%3A%2F%2Fwww.ppfas.com%2Fresearch%2Fereports%2Fweek%2F010210%2Findex.php%23js> *ICRA Ltd: Q3 FY10 Result Update* Anuj Anandwala | [email protected] *Steady Run Rate Maintained!* *Performance Highlights:* The consolidated top line of the rating and consulting major ICRA increased 29% to Rs. 421Mn for the quarter ended Dec'09 as compared to Rs. 327Mn for the corresponding quarter previous year. Rating services which included the corporate and financial sector rating contributed a major 65% to the total revenue of the company while the rest was contributed by the consulting and other information and outsourcing related services. The revenue from the rating business grew 30% to Rs. 274Mn for Q310 v/s Rs. 211mn for Q309. The continued growth in Rating Services Income during the quarter is on the back of RBI's guidelines on use of ratings assigned by external rating agencies. The market for grading of Initial Public Offerings (IPO) is also expected to pick-up as more issues tap the primary market. Besides the anticipated improvement in the corporate bond market is expected to give a fillip for the rating industry. more...<http://click.icptrack.com/icp/relay.php?r=17706065&msgid=309991&act=QAY9&c=240789&destination=http%3A%2F%2Fwww.ppfas.com%2Fresearch%2Fereports%2Fweek%2F010210%2Findex.php%23icra> *Oracle Financial Services Software Ltd: Q3 FY10 Result Update* Raunak Onkar | [email protected] OFSS reported a YoY dip in the topline of about 9%, and a 14% dip in the bottom line over the same period. Even though the topline for the 9 month period has remained flat, the bottom line over the same period has risen by 32%. There was a significant growth in the operating margin, at least 10% growth over the past quarter & a 5% growth YoY. This quarter the license revenues seem to have regained their past glory, and upto 24% (close to the average contribution to the topline). This might be a quarterly blip, but the chances that new license orders have been flowing in, are also high. The company has also reported DSO of about 87 days. This quarter saw 22 new customers added to their existing client list, with 16 in Product category and 6 in the Services business. more...<http://click.icptrack.com/icp/relay.php?r=17706065&msgid=309991&act=QAY9&c=240789&destination=http%3A%2F%2Fwww.ppfas.com%2Fresearch%2Fereports%2Fweek%2F010210%2Findex.php%23ofss> *Marico Ltd: Q3 FY10 Result Update* Ruchak Mehta | [email protected] Marico Ltd reported an average set of numbers for the December quarter FY10. On a consolidated level, Y-o-Y basis, the topline grew by 7.8%, from Rs.6,210.1 Mn in Q3 FY09 to Rs .6,695.7 Mn. Similar to last quarter, growth was essentially volume-led. On the raw materials front, the company continued to benefit from the fall in input prices. Cost of Materials was down 781 basis points from the quarter ended Dec 2008. Copra prices were down 22% y-o-y while safflower oil input prices were lower 28% y-o-y. Put together, these form over half the company's raw material costs. s Meanwhile, Marico made a further provision for excise duty on coconut oil packs of below 200ml. The amount for the same was Rs.110 Mn this quarter. Advertising and Promotional Spends increased by 35%. Overall, OPM went up by 200 bps to 14.75%. Reported PAT stood at Rs.622 Mn as against Rs.508.9 Mn for the same period a year ago, a rise of 22.22%. EPS stood at Rs 1.02. more...<http://click.icptrack.com/icp/relay.php?r=17706065&msgid=309991&act=QAY9&c=240789&destination=http%3A%2F%2Fwww.ppfas.com%2Fresearch%2Fereports%2Fweek%2F010210%2Findex.php%23marico> <http://click.icptrack.com/icp/relay.php?r=17706065&msgid=309991&act=QAY9&c=240789&destination=http%3A%2F%2Fwww.ppfas.com%2Fpdf-docs%2Fresearch%2Fweek-reports%2F2010%2Fwr010210.pdf> <http://click.icptrack.com/icp/relay.php?r=17706065&msgid=309991&act=QAY9&c=240789&destination=http%3A%2F%2Fwww.ppfas.com%2Fresearch%2Fereports%2Fweek%2F010210%2Findex.php> <http://click.icptrack.com/icp/relay.php?r=17706065&msgid=309991&act=QAY9&c=240789&destination=https%3A%2F%2Fparagparikh.wiki.zoho.com%2F> <http://click.icptrack.com/icp/relay.php?r=17706065&msgid=309991&act=QAY9&c=240789&destination=http%3A%2F%2Fwww.facebook.com%2Fpages%2FPPFAS%2F169732744085> <http://click.icptrack.com/icp/relay.php?r=17706065&msgid=309991&act=QAY9&c=240789&destination=http%3A%2F%2Fwww.ppfas.com%2Fwhats-new%2Findex.php> Download PDF<http://click.icptrack.com/icp/relay.php?r=17706065&msgid=309991&act=QAY9&c=240789&destination=http%3A%2F%2Fwww.ppfas.com%2Fpdf-docs%2Fresearch%2Fweek-reports%2F2010%2Fwr010210.pdf> View Full Report<http://click.icptrack.com/icp/relay.php?r=17706065&msgid=309991&act=QAY9&c=240789&destination=http%3A%2F%2Fwww.ppfas.com%2Fresearch%2Fereports%2Fweek%2F010210%2Findex.php> Feedback<http://click.icptrack.com/icp/relay.php?r=17706065&msgid=309991&act=QAY9&c=240789&destination=https%3A%2F%2Fparagparikh.wiki.zoho.com%2F> Become a Fan<http://click.icptrack.com/icp/relay.php?r=17706065&msgid=309991&act=QAY9&c=240789&destination=http%3A%2F%2Fwww.facebook.com%2Fpages%2FPPFAS%2F169732744085> Screensaver<http://click.icptrack.com/icp/relay.php?r=17706065&msgid=309991&act=QAY9&c=240789&destination=http%3A%2F%2Fwww.ppfas.com%2Fwhats-new%2Findex.php> If you have a query please email us at [email protected]. We would be glad to answer any queries with regard to this report. *Parag Parikh Financial Advisory Services Limited* 130/132, Great Western Building, 1st Floor, S.B.S. Marg, Near Lion Gate, Fort, Mumbai - 400 001 INDIA. Tel : 91 22 2284 6555 Fax : 91 22 2284 6553 This message was sent from Parag Parikh Research to [email protected]. It was sent from: PPFAS, 130/132, Great Western Building, Shahid Bhagat Singh Marg, Near Lion Gate, Fort,, Mumbai, Maharashtra 400001, India. You can modify/update your subscription via the link below. Email Marketing by <http://www.icontact.com/a.pl/144186> [image: iContact - Try It Free!] <http://www.icontact.com/a.pl/144186> Manage your subscription <http://app.icontact.com/icp/mmail-mprofile.pl?r=17706065&l=20023&s=QAY9&m=309991&c=240789> <http://app.icontact.com/icp/sub/forward?m=309991&s=17706065&c=QAY9&cid=240789> -- Regards, !! anuj anandwala !! -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
