A likely beneficiary of the nuclear deal, Rolta India has posted a good performance for the first quarter ended 30th September 2008, but for the huge MTM forex loss. Consolidated revenue for Q1 FY-09, on a YoY was up 56.6% at Rs. 346.14 crores, while Q0Q, it grew by 7.8%. EBITDA on a YoY rose by 41.1% at Rs.118.46 crores which on a QoQ showed a growth of 5.6%. PAT before exceptional item was at Rs.85.25 crores, up YoY by 58.4% and by 5.2% on a QoQ basis. YoY it fell 56% while QoQ it fell 53% at Rs.23.90 crore.The MTM loss is on the US$150 million FCCB which is due for maturity only in June 2012. How is that possible? The company has explained that it operates in unique segments like infrastructure, defence, geo-space, and engineering and is therefore not affected by the banking and insurance slowdown. The company’s current order book position stands at Rs.1,500 crore. Rolta is one company which is expected to benefit from the nuclear deal, mainly due to its JV with the Shaw group, which has a 70-80% of the world market for nuclear power plants design and for installation and commissioning. But the revenue from this is expected to come in only after the next 18-24 months. All to all at CMP 170 we a HUGE UPSIDE POTENTIAL !
Company, which was renamed as Richa Industries by changing its previous name Richa Knits is a processing and readymade garment making company. Performance of the company even during current market recession is very good. Stock price has improved by 120 per cent during crash in the market.
Income of the company increased by 180 per cent during quarter ended in September, 2008. Company has earned net profit of Rs. 3.96 crores on the gross revenue of Rs. 42.99 crores. Top line of the company is expected to go up to the level of Rs. 162 crores during FY 2009-10 and bottom line up to the level of Rs. 15 crores. Investors may grab opportunity to invest in the stock at CMP Rs 61.
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