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StatsGuru-02-November-09
Thanks to a sharp turnaround IN THE fortunes of PSU oil marketing companies due to lower oil subsidies, savings in overall costs of production and interest earnings on the cash piles it is sitting on, India Inc’s profits rose over 63 per cent in the September quarter. This is while topline sales fell 6.3 per cent. Once you net out sectors like oil and refining or steel where prices have fallen hugely over the year, the sales growth is a more respectable 8.3% — net profit margins also rise, from 8.9% to 11%. Sales and profits, however, tend to be concentrated and the top 10 firms account for over 40 per cent of sales/profits of our sample of 1,068 firms — remove these top 10 firms, and net profit margins for the sample fall around 30 per cent. Tax provisions are up 23 per cent due to the Minimum Alternate Tax. Most of the top companies — in terms of sales/profits — have seen a relatively poor quarter. Costs of raw materials to sales are down 80 bps on a year-on-year basis but are up 540 bps on a sequential quarter basis, suggesting the extra boost to profits from lower commodity prices in the quarter will reduce in the months ahead. Should that happen, though, it will boost the topline and bottomlines of commodity firms.

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Anil Kumar may plead guilty in Galleon hedge fund case
Indian-American Anil Kumar, an accused in one of the the largest insider trading scam in the US, has agreed to waive indictment in the Galleon Hedge Fund case, in an indication that he might plead guilty as per a deal struck between him and the prosecutors.

News of the day

Markets extend gains
The Sensex has extended gains and touched a high of 17,554 - up 90 points. The Nifty is up 30 points at 5,231.
Management

Volvo raises vehicle prices by 3-4%

Volvo Trucks India today said it has increased prices of its vehicles by 3-4 per cent starting this year on account of rising input costs. - Ashok Leyland unveils hybrid bus - Ashok Leyland to hike prices of CVs soon - Toyota showcases "Etios", to be launched by early 2011 - Maruti crosses 1 lakh retail sales in Dec 2009 - M&M utility vehicle sales grow 32.11% in Oct - Truck prices moving north "Prices have gone up on account of high input costs especially, steel and rubber," Volvo Trucks India President Somnath Bhattacharjee told reporters at the 10th Auto Expo here. Bhattacharjee, who is also on the board of Volvo-Eicher Joint Venture, added that prices of Eicher products too have been increased by two per cent for the same reasons. The company sold about 1,000 trucks last year in special segments like mining, registering a growth of about 20-25 per cent. "The government is investing heavily in highways and infrastructure, boosting growth for the trucking industry, which is growing at 9-10 per cent," he said, adding that he expected similar growth rates this year. The company plans to launch about 3-4 models this year. Volvo Trucks today also launched an advanced truck "FH520 powertronic" for the heavy haulage segment.


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