Ambika Cotton Mills
Ambika’s revenue rose marginally YoY to 121.66cr and profits rose 28.5% on back of MAT reversal. On an Annual basis the revenues rose marginally to 495.54cr and profits rose around 6% to 51.18cr. The company once again gave a liberal dividend and most importantly they have announced capacity expansion and as mentioned in the stock note, the expansion would be light on debt. Great going and it continues to deliver on its promise.
Garware-Wall Ropes Ltd.
Sales rose marginally YoY to 196.9cr and profits rose 65% to 12.26cr on back of strong operational performance. On an Annual basis sales, rose around 15% to 784.24cr and profits rose around 61% to 43.12cr. No doubt Garware wall is living up to its expectations and is still available cheap.
Revenues increased 25% YoY to 11.2cr and profits decreased from 6.51cr to 3.96cr. Buts important to note, in the last year there was significant tax credit and other income. Overall the results are decent if not spectacular.
Sharp India came out with muted set of numbers for the quarter as topline fell around 37% YoY to around 43cr and profits feel by around 75% to 1.8cr. On an Annual basis revenue rose around around 22% to 189cr but profits fell around 42% to 1.56cr. The company’s performance was muted but we are also in the bigger game of india based manufacturing for sharp, that I believe should happen sooner than later.
Cybertech posted average set of numbers for the quarter on the bottomline front with profits down around 52% YoY though sales were up 8%, this was on back of higher employee cost. On an annual basis, the standalone revenues and profits both were almost constant though bottomline was saved by Exceptional items (please see the notes of results for details). For consolidated performance (though I am only interested in the standalone results) on an annual basis the revenues were down 9% and profits were down around 32%. The stock is testing our patience but the significant employee cost increase this year means, the company is ramping up for something big and another important point to note is that company is now almost debt free.