Results Update !!!

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.

Pressman Advertising

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

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.

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83 Responses to Results Update !!!

  1. shreeux says:

    Thanks for Update..!!!

  2. Akshay says:

    thanks for your views. I next few years are going to be gr8 for cybertech

  3. saravanfbi says:

    Hi Ace,
    Thanks for the update. What are your expectations for liberty shoes?

  4. Suneetha says:

    Thanks for update !

  5. Rohit Gulati says:

    Dear Ace,

    Regarding Waterbase…You said its increasing capacity by amalgamating Pinnae Feeds.Where I can find info on Pinnae Feeds Ltd.Are they also adding capacity organically? In their Company announcement they also mentioned about diversifying into hatcheries…not aware of this biz. vertical. could you throw some light.


  6. STP says:

    Sir… u were quite positive about dynemic products in the past… now that the prices have fallen quite a bit.. soes it appear attractive to u at the current levels..

  7. Shankykrish says:

    Dear Ace sir

    Requesting your views on Gujarat Biosyn results. Thanks

  8. Teja says:

    Hi Ace, when can we expect your next recommendation. 🙂

  9. sangram says:

    Gujarat themis results for this quarter, what is other expenditure here it has been risen little bit. There is nothing mentioned about in foot note

  10. sarvdeep123 says:

    Hi Ace,

    Let me first thank you for the book recommendation, “The Thoughtful investor”. Its a very good book. I was looking at this company called Bharat Agri Fert & Realty. I found that company is virtually debt free, has a good ROE of 35 %, Sales are growing by 26 % YOY and still the company is trading at a PE of 6-7x .NPM is 26 %. Whats your view on this?



    • not confident about it because unfortunately they have a fertilizer business which is a cash guzzler. But again, its available at decent valuations. I would like to see the dividend payout though

  11. Niranjan says:

    Hi Ace,

    Just skimmed through the results of Prima. Looks very disappointing at first glance. Will take a deeper look over the weekend.

    What do you make of it?


    • the consolidated results may look disappointing but its important to note that crude benefits would have started by jan this year, as they have a yr end of DEC (and till December though crude came down quite a bit but its possible that they might have incurred inventory losses). what’s very encouraging is the standalone quarter’s results. the profitability is excellent and most heartening is the increase in dividend payout. This year they are paying 1.5rs VS 1rs dividend that was paid last year. clearly this increased dividend is coming inspite of lowering of consolidated profits. its quite possible they are guaging very good cash generation because as on date they have almost crossed halfway mark in their cameroon operations. Anyways, the domestic operations would start showing marked improved starting this quarter and therefore for coming few quarters all YoY results are expected to be very good. Yes, consolidated bottomline not that great but its not bad either and more importantly the standalone results are very encouraging and add to it increased payout, this now becomes a very safe stock

      • Niranjan says:

        Hi Ace,
        Yes very disappointing cons numbers. I was expecting Q4 to be really good.

        But How is the standalone numbers any good?

        Sales down – from 2611 to 2572
        Net Profits down from 179 to 171
        EPS down from 1.63 to 1.56

        YoY results are marginally good but not great, some of it, if not all, also has to do with closing down of ACP division as well I guess.

        Curious.. am I missing something?


        • how are you comparing YoY for the standalone results? remember this quarter the ACP was not operational and had the 1+cr loss of ACP been not there, the margins would have been excellent overall and still the margins of plastic division is 200 basis points better – YoY.. Any particular point that you did not find good in the standalone results?

  12. Rohan says:

    Ace, your view on Richa Inds?

  13. animesh says:

    Ace ur views on prima results?

  14. Akash says:

    I really thought Prima results are very good but just misunderstood by the market. I think we will have a very good next yea and this could be a very big multibagger in next year

    • yes, the next few quarters should be very good… and if markets do not understand the results, this would be a great opportunity. but i think there’s not much downside (if at all) because of very liberal dividend

  15. Vinod says:

    Dear Ace,

    Am holding Prima since 2 months. Do i get divident?

    Thank you in advance

  16. indianbull10 says:

    ok..they are published on nseindia site..

  17. indianbull10 says:

    one point to note is EBIT wise, v2 has done double the numbers that of v-mart in q4. EBIT of vmart is 2.12cr compared to EBIT of v2`s 4.46cr!!!!! super result.

  18. Jp says:

    Vidhi board planning to sell the undertaking of thecompany!! Can u pls throw some light on it. Thnks

  19. sangram says:

    Vidhi results are good in my views. What do you think bro

  20. anujpress24 says:

    Hi Ace
    your view on V2 retail result please


    • have not seen most of the results…will give an update on each of the result by tomorrow ..

      • RAVI says:

        Sir, i want to know about negative inventories entries in the P&L statements. I tried to google it but could not understand it a bit. Can u share your knowledge or share some link so than i can grasp this thing. In most of my holding companies this negative inventories is there and not understanding it is killing me despite of very good profits in their operations. Please sir… God bless all.

        • sure. let me know what you have tried to learn and what is the confusion. normally google does an excellent job.

          • RAVI says:

            As per my thoughts inventory change takes place in expense statement. Which shows the finished goods of the company. Now when the inventory change is shown as negative number then as per my understanding the sale of good has happened even before reported to the inventory go-down. But isnt it confusing because it reduces the net expense and this leads to the false increase in net profit. Is it justified or not. It also indicates that the sale of items has already taken place or payment has been made in lieu of the order. i have also reffered the businessdictionary and investopedia but could not get it properly. This negative inventory is the case for latest Q4 results of Vidhi and V2retail both. Please comment or give me refer link………. as i could only found those two site relevant to my search in google. Thank you in advance. By the way Mr.Agrawal of V2retail has walked the talk and recently functional v2kart site is also a big boost to investor sentiments.

  21. vicky says:

    Hi Ace,
    Do suzlon result encouraging?
    Please provide your view.

  22. luckychamp says:


    wat r your views on freshtrop fruits after quarter result ..?r the results up to the mark ?

  23. mano3427 says:

    sir ,regarding prima results
    1)the sales of subsidiary shows a growth of nearly 35% but profit came down ,as informed earlier if the prices were not cut why so ?
    2)if acp unit is already shut then y showing as loss making?inventory selling?
    3)with the acp unit closed and better realization from low cost inventory,i think the eps can jump to a minimum of 15-18 by next year(had the acp not been functional the current eps must have been around 9)what is ur opinion?
    4)how much time it will take the new plant operational?

  24. sachin prabhakar says:

    ace imho.. how can you call cybertech nos decent when they are pathetic?

  25. Ajith says:


    Saw vidhi result, excellent bottomline.. Good growth even in top line. Only concern is conversion to cash.. Working capital pressure can doom the company. What’s ur say..

    • what makes you say so ?

      • AJITH says:

        If you see, loan is around 42 crores and in last 10 years the debt has increased from 4 crores to 42 crores. Net block has increased only by 12 crores wherehas the working capital increased by 48crores (12 to 60 Crores).
        So money is stuck in working capital . Have not analysed in detail, yet thought of making through the point to you to get your inputs. I am invested with 1400 shares in the company.

        • i am not worried about it because it does not have too much debt and overall even cash conversion cycle has improved. also, some industries has this nature. The best way to make money is to not over complicate the investment thesis. Make money not relationships with stocks. God Bless

  26. sangram says:

    Hi ace bro do you track microsec financials. If yes please share your views

  27. sangram says:

    Hi ace bro do you track microsec financials. If yes please share your views.

  28. mayur says:

    Ace, can u pls also consider Liberty Shoes results while posting updates on other stocks?

  29. Rohit Gulati says:

    Superb show by Vidhi.!!Cheers..beginning of strong upmove in due course

  30. Roshan says:

    Ace do u think the re-rating of V2 retail will happen now since they have posted profits in every quarter and also Mr. Agarwal’s target have been met or do u feel it will happen only after the contingent liabilities are settled?

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