BIG BOSS
VIKAS PARSHURAM SAMWATSARE
Buy CRISIL Ltd. For Target Rs.1290.00
CRISIL is a global analytical company providing ratings, research, & risk & policy advisory services. The company’s net profit registered 38.49% increase and stood at a record Rs. 605.20 million from Rs. 437.00 million over the corresponding quarter last year.
* Total Income has increased from Rs. 2289.50 mn for the quarter ended June 30, 2012 to Rs. 2830.00 million for the quarter ended June 30, 2013.
* McGraw Hill Financial has added to its investment in CRISIL Limited increasing its stake to 67.8% from 52.8%.
* CRISIL Ltd has declared Interim Dividend of Rs. 3 per equity share of face value of Re. 1 each, for the financial year ending December 31, 2013.
* During the quarter, India’s first inflation-indexed debenture issue and the first Tier II capital issuance under the Basel-III regulations (both rated
by CRISIL) were launched.
* CRISIL Risk & Infrastructure Solutions Ltd (CRIS), a wholly owned subsidiary of CRISIL Ltd, won several prestigious assignments in the urban infrastructure space.
* During the quarter, CRISIL Inclusix was launched to measure the extent of financial inclusion in each of the nation’s 632 districts.
* Net Sales and PAT of the company are expected to grow at a CAGR of 15% & 8% over 2011 to 2014E respectively.
QUARTERLY HIGHLIGHTS (CONSOLIDATED)
Results updates- Q2 CY13
CRISIL Ltd. achieved a turnover of Rs. 2685.40 million for Q2 CY13 as against Rs. 2165.50 millions in the corresponding quarter of the previous year. The company has reported an EBITDA of Rs. 953.70 millions and a net profit of Rs. 605.20 million against Rs. 437.00 million reported respectively in the corresponding quarter of the previous year. The company has reported an EPS of Rs. 8.58 for the 2nd quarter as against an EPS of Rs. 6.23 in the corresponding quarter of the previous year.
OUTLOOK AND CONCLUSION
* At the current market price of Rs.1180.00, the stock P/E ratio is at 34.41 x CY13E and 31.71 x CY14E respectively.
* Earning per share (EPS) of the company for the earnings for CY13E and CY14E is seen at Rs.34.29 and Rs.37.21 respectively.
* Net Sales and PAT of the company are expected to grow at a CAGR of 15% and 8% over 2011 to 2014E respectively.
* On the basis of EV/EBITDA, the stock trades at 21.11 x for CY13E and 19.06 x for CY14E.
* Price to Book Value of the stock is expected to be at 10.79 x and 8.05 x respectively for CY13E and CY14E.
* We recommend ‘BUY’ in this particular scrip with a target price of Rs. 1290.00 for Medium to Long term investment.
Buy Petronet LNG Ltd. For Target Rs.136.00
Petronet LNG Ltd is one of the fastest growing world-class companies in Indian energy sector formed as a Joint Venture by the Government of India to import LNG and set up LNG terminals in the country.
* Revenue for the quarter rose by 20.11% to Rs. 84442.00 million from Rs. 70304.10 million, when compared with the prior year period.
* The company’s net profit decreased to Rs. 2253.20 million against Rs. 2708.50 million in the corresponding quarter ending of previous year, a decrease of 16.81%.
* Petronet LNG has planned to increase its LNG regasification capacity from present 10 MMTPA to 25 MMTPA in the next 4-5 years.
* Net Sales and PAT of the company are expected to grow at a CAGR of 23% and 7% over 2012 to 2015E respectively.
* Petronet LNG Ltd will be getting 1.5 million tonne Gorgon gas from Australia for 20 years beginning January 2015 at Kochi.
* The Company has signed a binding term sheet with Gangavaram Port Ltd. for setting up LNG Terminal, having a capacity of 5 MMTPA.
QUARTERLY HIGHLIGHTS (STANDALONE)
Results updates- Q1 FY14,
Petronet LNG Ltd, one of the fastest growing worldclass companies in Indian energy sector in India, reported its financial results for the quarter ended 30th June, 2013.
The company’s net profit decreased to Rs. 2253.20 million against Rs. 2708.50 million in the corresponding quarter ending of previous year, a decrease of 16.81%. Revenue for the quarter rose by 20.11% to Rs. 84442.00 million from Rs. 70304.10 million, when compared with the prior year period. Reported earnings per share of the company stood at Rs. 3.00 a share during the quarter, registering 16.81% decrease over previous year period. Profit before interest, depreciation and tax is Rs. 4130.40 millions as against Rs. 4837.10 millions in the corresponding period of the previous year.
OUTLOOK AND CONCLUSION
* At the current market price of Rs.120.00, the stock P/E ratio is at 7.39 x FY14E and 6.99 x FY15E respectively.
* Earning per share (EPS) of the company for the earnings for FY14E and FY15E is seen at Rs.16.25 and Rs.17.66 respectively.
* Net Sales and PAT of the company are expected to grow at a CAGR of 23% and 7% over 2012 to 2015E respectively.
* On the basis of EV/EBITDA, the stock trades at 4.66 x for FY14E and 4.23 x for FY15E.
* Price to Book Value of the stock is expected to be at 1.59 x and 1.29 x respectively for FY14E and FY15E.
* We recommend ‘BUY’ in this particular scrip with a target price of Rs.136.00 for Medium to Long term investment.
Buy Nucleus Software Exports Ltd. For Target Rs.105.00
Nucleus Software is a leading software powerhouse providing innovative and pioneering software solutions for Banks and Financial organizations globally
* The company’s net sales registered 16.74% increase and stood at a record Rs. 863.23 million from Rs. 739.46 million over the corresponding quarter last year.
* Nucleus Software completed a total of 10 product modules implementations of Finn One TM and Cash@WillTM suite across Europe, South East Asia, Latin America, and Middle East regions.
* Nucleus Software showcased its award winning Retail Auto Finance products at the E.N.G.'s Automotive Finance Summit on the 4th & 5th June 2013 in Frankfurt.
* Nucleus Software’s FinnOne™ has ranked as the Global No. 1 Lending Software solution for the fifth consecutive year by IBS Publishing, UK in their Sales League Table 2013 for banking product sales.
* Net Sales and PAT of the company are expected to grow at a CAGR of 5% and 15% over 2012 to 2015E respectively.
QUARTERLY HIGHLIGHTS (STANDALONE)
Results updates- Q1 FY14,
Nucleus Software Exports Limited, a leading global software product and solutions provider to the banking & financial services industry, has reported its financial results for the quarter ended 30 JUNE, 2013.
The company achieved revenue for the quarter rose to Rs. 863.23 millions, a growth of 16.74% from Rs.739.46 millions in the corresponding quarter of the previous year. The company has reported an EBITDA for the quarter stood at Rs. 196.91 million in comparison to Rs. 177.74 million in the corresponding quarter of the previous year and Net Profit after Tax (PAT) stood at Rs. 111.65 million in comparison to Rs. 122.96 million in the corresponding quarter of the previous year. The company has reported an Earnings per Share (EPS) for the quarter was reported at Rs. 3.45 in comparison to Rs. 3.80 in the corresponding quarter of the previous year.
OUTLOOK AND CONCLUSION
* At the current market price of Rs. 95.15, the stock P/E ratio is at 6.07 x FY14E and 5.66 x FY15E respectively.
* Earning per share (EPS) of the company for the earnings for FY14E and FY15E is seen at Rs.15.67 and Rs.16.81 respectively.
* Net Sales and PAT of the company are expected to grow at a CAGR of 5% and 15% over 2012 to 2015E respectively.
* On the basis of EV/EBITDA, the stock trades at 2.46 x for FY14E and 2.17 x for FY15E.
* Price to Book Value of the stock is expected to be at 0.77 x and 0.68 x respectively for FY14E and FY15E.
* We recommend ‘BUY’ in this particular scrip with a target price of Rs.105.00 for Medium to Long term investment.
VIKAS PARSHURAM SAMWATSARE
Buy CRISIL Ltd. For Target Rs.1290.00CRISIL is a global analytical company providing ratings, research, & risk & policy advisory services. The company’s net profit registered 38.49% increase and stood at a record Rs. 605.20 million from Rs. 437.00 million over the corresponding quarter last year.
* Total Income has increased from Rs. 2289.50 mn for the quarter ended June 30, 2012 to Rs. 2830.00 million for the quarter ended June 30, 2013.
* McGraw Hill Financial has added to its investment in CRISIL Limited increasing its stake to 67.8% from 52.8%.
* CRISIL Ltd has declared Interim Dividend of Rs. 3 per equity share of face value of Re. 1 each, for the financial year ending December 31, 2013.
* During the quarter, India’s first inflation-indexed debenture issue and the first Tier II capital issuance under the Basel-III regulations (both rated
by CRISIL) were launched.
* CRISIL Risk & Infrastructure Solutions Ltd (CRIS), a wholly owned subsidiary of CRISIL Ltd, won several prestigious assignments in the urban infrastructure space.
* During the quarter, CRISIL Inclusix was launched to measure the extent of financial inclusion in each of the nation’s 632 districts.
* Net Sales and PAT of the company are expected to grow at a CAGR of 15% & 8% over 2011 to 2014E respectively.
QUARTERLY HIGHLIGHTS (CONSOLIDATED)
Results updates- Q2 CY13
CRISIL Ltd. achieved a turnover of Rs. 2685.40 million for Q2 CY13 as against Rs. 2165.50 millions in the corresponding quarter of the previous year. The company has reported an EBITDA of Rs. 953.70 millions and a net profit of Rs. 605.20 million against Rs. 437.00 million reported respectively in the corresponding quarter of the previous year. The company has reported an EPS of Rs. 8.58 for the 2nd quarter as against an EPS of Rs. 6.23 in the corresponding quarter of the previous year.
OUTLOOK AND CONCLUSION
* At the current market price of Rs.1180.00, the stock P/E ratio is at 34.41 x CY13E and 31.71 x CY14E respectively.
* Earning per share (EPS) of the company for the earnings for CY13E and CY14E is seen at Rs.34.29 and Rs.37.21 respectively.
* Net Sales and PAT of the company are expected to grow at a CAGR of 15% and 8% over 2011 to 2014E respectively.
* On the basis of EV/EBITDA, the stock trades at 21.11 x for CY13E and 19.06 x for CY14E.
* Price to Book Value of the stock is expected to be at 10.79 x and 8.05 x respectively for CY13E and CY14E.
* We recommend ‘BUY’ in this particular scrip with a target price of Rs. 1290.00 for Medium to Long term investment.
Buy Petronet LNG Ltd. For Target Rs.136.00Petronet LNG Ltd is one of the fastest growing world-class companies in Indian energy sector formed as a Joint Venture by the Government of India to import LNG and set up LNG terminals in the country.
* Revenue for the quarter rose by 20.11% to Rs. 84442.00 million from Rs. 70304.10 million, when compared with the prior year period.
* The company’s net profit decreased to Rs. 2253.20 million against Rs. 2708.50 million in the corresponding quarter ending of previous year, a decrease of 16.81%.
* Petronet LNG has planned to increase its LNG regasification capacity from present 10 MMTPA to 25 MMTPA in the next 4-5 years.
* Net Sales and PAT of the company are expected to grow at a CAGR of 23% and 7% over 2012 to 2015E respectively.
* Petronet LNG Ltd will be getting 1.5 million tonne Gorgon gas from Australia for 20 years beginning January 2015 at Kochi.
* The Company has signed a binding term sheet with Gangavaram Port Ltd. for setting up LNG Terminal, having a capacity of 5 MMTPA.
QUARTERLY HIGHLIGHTS (STANDALONE)
Results updates- Q1 FY14,
Petronet LNG Ltd, one of the fastest growing worldclass companies in Indian energy sector in India, reported its financial results for the quarter ended 30th June, 2013.
The company’s net profit decreased to Rs. 2253.20 million against Rs. 2708.50 million in the corresponding quarter ending of previous year, a decrease of 16.81%. Revenue for the quarter rose by 20.11% to Rs. 84442.00 million from Rs. 70304.10 million, when compared with the prior year period. Reported earnings per share of the company stood at Rs. 3.00 a share during the quarter, registering 16.81% decrease over previous year period. Profit before interest, depreciation and tax is Rs. 4130.40 millions as against Rs. 4837.10 millions in the corresponding period of the previous year.
OUTLOOK AND CONCLUSION
* At the current market price of Rs.120.00, the stock P/E ratio is at 7.39 x FY14E and 6.99 x FY15E respectively.
* Earning per share (EPS) of the company for the earnings for FY14E and FY15E is seen at Rs.16.25 and Rs.17.66 respectively.
* Net Sales and PAT of the company are expected to grow at a CAGR of 23% and 7% over 2012 to 2015E respectively.
* On the basis of EV/EBITDA, the stock trades at 4.66 x for FY14E and 4.23 x for FY15E.
* Price to Book Value of the stock is expected to be at 1.59 x and 1.29 x respectively for FY14E and FY15E.
* We recommend ‘BUY’ in this particular scrip with a target price of Rs.136.00 for Medium to Long term investment.
Buy Nucleus Software Exports Ltd. For Target Rs.105.00 Nucleus Software is a leading software powerhouse providing innovative and pioneering software solutions for Banks and Financial organizations globally
* The company’s net sales registered 16.74% increase and stood at a record Rs. 863.23 million from Rs. 739.46 million over the corresponding quarter last year.
* Nucleus Software completed a total of 10 product modules implementations of Finn One TM and Cash@WillTM suite across Europe, South East Asia, Latin America, and Middle East regions.
* Nucleus Software showcased its award winning Retail Auto Finance products at the E.N.G.'s Automotive Finance Summit on the 4th & 5th June 2013 in Frankfurt.
* Nucleus Software’s FinnOne™ has ranked as the Global No. 1 Lending Software solution for the fifth consecutive year by IBS Publishing, UK in their Sales League Table 2013 for banking product sales.
* Net Sales and PAT of the company are expected to grow at a CAGR of 5% and 15% over 2012 to 2015E respectively.
QUARTERLY HIGHLIGHTS (STANDALONE)
Results updates- Q1 FY14,
Nucleus Software Exports Limited, a leading global software product and solutions provider to the banking & financial services industry, has reported its financial results for the quarter ended 30 JUNE, 2013.
The company achieved revenue for the quarter rose to Rs. 863.23 millions, a growth of 16.74% from Rs.739.46 millions in the corresponding quarter of the previous year. The company has reported an EBITDA for the quarter stood at Rs. 196.91 million in comparison to Rs. 177.74 million in the corresponding quarter of the previous year and Net Profit after Tax (PAT) stood at Rs. 111.65 million in comparison to Rs. 122.96 million in the corresponding quarter of the previous year. The company has reported an Earnings per Share (EPS) for the quarter was reported at Rs. 3.45 in comparison to Rs. 3.80 in the corresponding quarter of the previous year.
OUTLOOK AND CONCLUSION
* At the current market price of Rs. 95.15, the stock P/E ratio is at 6.07 x FY14E and 5.66 x FY15E respectively.
* Earning per share (EPS) of the company for the earnings for FY14E and FY15E is seen at Rs.15.67 and Rs.16.81 respectively.
* Net Sales and PAT of the company are expected to grow at a CAGR of 5% and 15% over 2012 to 2015E respectively.
* On the basis of EV/EBITDA, the stock trades at 2.46 x for FY14E and 2.17 x for FY15E.
* Price to Book Value of the stock is expected to be at 0.77 x and 0.68 x respectively for FY14E and FY15E.
* We recommend ‘BUY’ in this particular scrip with a target price of Rs.105.00 for Medium to Long term investment.
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