pkjha30 said:
Hi nkpanjiar
What is your opinion about MSK Projects given that the focus is very much on infrastructure in 2006. Sure it is not in L&T, IVRCL category yet may prove dark horse . As of now its CMP is 95( YH125 and YL 33).
Result UnAudited
Period--- 01 Jul 05---30 Sep 05
Description Value(Rs. million)
Net Sales 157.68
Other Income 4.16
Total Income 161.83
Expenditure -134.44
Operating Profit 27.4
Interest -4.29
Gross Profit 23.11
Depreciation -5.33
Profit before Tax 17.78
Tax -1.41
Profit after Tax 16.38
Net Profit 16.38
Equity Capital 146.18
Reserves -
EPS 1.31
Your analysis will be appreciated.
Regards
Pankaj
Dear Pankaj,
I looked for Last 4 quarter sales...(this is in crores)
Period: Sep'05 -- Jun'05 -- Mar'05 -- Dec'04
Sales: 15.77 -- 20.92 -- 26.89 -- 24.36
We can see huge variations yealy results
Operating Income: 78.21 -- 73.37 -- 52.28 -- 27.48 -- 27.48
Operating Profit: 8.44 -- 8.92 -- 12.94 -- 10.24 -- 9.23
The company grows in spurts (depends when it gets tenders and all).
The operating profits have not kept up in tune with sales.
While sales(operating income) increased 3 times, profits remained stagnant. A reason which is not +ve .
Looking from
Total Net Current Assets : 39.90
While Market Cap : 114.45 Cr
Again a reason which is not +ve for picking
A profit of 8-9 crores and mcap of 95 crores... nothing much left for new investors I would guess.
Looked at some more parameters for MSK, did not find something, which enthuses or strikes as a great pick.
Of course it can hit circuits (that’s a different thing I should say).
Hope this may help.
cheers,
nkpanjiyar