Results on track!!
Please read the initial analysis here
Kale 3rd Qtr results are out and the best part is there are no surprises!!. Kale continues its steady growth in the 3rd Qtr also.
Kale reported a consolidated turnover of 43Cr for the Qtr with a PAT of 5.6Cr. The EPS for the 3 months ending Dec is now 14.5Rs.
QoQ there is a steady growth and no surprises. Typically I do not like companies where there is lot of earning surprises. The company continues its momentum with its steady rate of customer wins this time it is Jet Airways, India’s leading pvt airline.
Projection for the 4th Qtr ( My estimates )
Typically for Kale the 4th Qtr is the best I expect the 4th Qtr consolidated earnings between 45-48Cr and the consolidated NP between 6-6.5Cr (If there are no exceptional items).
Which will bring the March-FY2010 earnings to 164-167Cr. The NP is expected to be between 20.5 – 21Cr range.
There was a reporting mistake in my earlier report where I projected it as 30Cr (I miscalculated the exceptional item from last Qtr). So I am slightly upping my revenue target from 160Cr earlier to 165Cr and the NP target to 26Cr from 30Cr.
The FY 10 projected EPS is around 20Rs and the stock at 95Rs is trading at a PE of less than 5.
The stock should do well after the results and any price which is less than 80 is a very good entry point now.
No comments:
Post a Comment