| Author |
Message |
TCSer
Senior Member
Joined: 17/Mar/2008
Location: India
Online Status: Offline
Posts: 1882
|
   Topic: Cox & Kings Good results
Posted: 31/Jan/2010 at 11:34pm |
|
The company has announced good results for the quarter ending December 2009.
On Consolidated Sales of Rs.78.89 crores (up 26.7% from Rs.62.27 crores last year) the Net Profit was Rs.19.28 crores (almost double of Rs.10.25 crores of last year).The quarterly fully diluted EPS is Rs.3.06.
For the nine months to December 2009, the fully diluted consolidated
EPS is 14.12 (Net Profit of Rs.88.86 crores divided by post-IPO
expanded equity of Rs.62.92 crores). This could mean a full year EPS of
Rs.17 plus.
Even though its peer Thomas Cook quotes at a PE of 70 (even Mahindra
Holidays enjoys a PE of 40), it is not unfair to expect that the
company should get a PE of at least 40 post results.
Cox n Kings is a proxy play to Indian consumption story thanks to Huge inbound & outbound tourism being witnessed.
Jaykumar of Prime securties has picked travel n tourism sector as the new growth sector of 2010 & beyond.Thomas Cook & CNK are the only 2 major serious players .Needs to be carefully evaluated.
|
 IP Logged |
|
|
|
 |
|
basant
Admin Group
Joined: 01/Jan/2006
Location: India
Online Status: Offline
Posts: 18403
|
Posted: 31/Jan/2010 at 7:19am |
|
The business is good but a case for valuation gain looks remote. At that kind of a valuation there are better opportunities available in the consumer segment itself.
Markets are pricing in recovery earnings in Thomas Cook and hence we have to see the Fy0 and Fy11 EPS for TC.
|
|
'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in
|
|
IP Logged |
|
|
|
TCSer
Senior Member
Joined: 17/Mar/2008
Location: India
Online Status: Offline
Posts: 1882
|
Posted: 03/May/2010 at 9:56am |
|
PRICE NOW TOUCHING 500 AFTER REACHING 52 WEEK HIGH OF 570.
THIS CAN BE THE SECTOR OF THIS DECADE THANKS TO HUMONGOUS GROWTH SPECIALLY IN OUTBOUND TOURISM
|
|
IP Logged |
|
|
|
commnman
Senior Member
Joined: 28/Jul/2010
Location: India
Online Status: Offline
Posts: 426
|
Posted: 04/Feb/2011 at 3:09pm |
|
Is it time to pack the bags? Not yet !
Q3 results out...
Total Income up 37.3% to 108.31 Cr from 78.89 Cr.
EBIDTA up 27.3% to 38.56 Cr from 30.3 Cr.
Net Profit up 19.4% to 23.02 Cr from 19.28 Cr.
Note: Net helped by a Forex gain of 8.69 Cr V/s 3.36 Cr (DQ-09).
Otherwise, Adjusted net profit DOWN 9.4% to 14.65 Cr from 16.16 Cr.
EBIDTA margin is 35.60% V/s 38.39% (DQ-09) and 45.47% (SQ-10)
NET Pr margin is 21.26% V/s 24.44% (DQ-09) and 32.27% (SQ-10)
Employee costs up 108 bps to 32.61% V/s 31.53% (DQ-09) and 30.26% (SQ-10)
Advertisement costs up 209 bps to 9.55% V/s 7.46% (DQ-09) and 5.77% (SQ-10). These have brought down the EBIDTA.
If this is not enough cause for a concern then...
Interest costs are! Gone up steep 251% to 16.66 Cr V/s 4.74 Cr.
Interest cost as a %ge to EBIT is now 49.34% V/s 17.73% (DQ-09) and 38% (SQ-09)
Y-t-D 9-month 2010 to 9-month 2009:
Total Income up 29.2% to 338.69 Cr from 262.24 Cr (FY10 Full year 399.15 Cr)
EBIDTA up 30% to 148.65 Cr from 114.47 Cr (FY10 Full year 186.44 Cr)
Net DOWN 6.2% to 83.4 Cr from 88.9 Cr (FY10 Full year 133.85 Cr)
Note: Forex gain is 10.21 Cr V/s 27.64 Cr.
Otherwise, Adj Net profit up 19.5% to 74.06 Cr from 61.95 Cr.
Reported Nine month EPS is 12.74 V/s 18.74 (FY10 Full year 26.13)
Note: Decrease in EPS is due to fresh GDR issue during Aug-2010.
-
Edited by commnman - 04/Feb/2011 at 3:22pm
|
|
main toh aam aadmi hun... jo sunta hoon wohi sach maanta hoon
|
|
IP Logged |
|
|
|
rajnsharma
Senior Member
Joined: 31/Jul/2009
Location: India
Online Status: Offline
Posts: 1202
|
Posted: 04/Feb/2011 at 3:23pm |
|
Somebody rightly said that you have become the official scorer of TED.
Really appreciate your great work
|
|
Wall Street makes money by it's activity, while you can make money by your in-activity - Warren Buffett
|
|
IP Logged |
|
|
|
basant
Admin Group
Joined: 01/Jan/2006
Location: India
Online Status: Offline
Posts: 18403
|
Posted: 04/Feb/2011 at 4:03pm |
|
Yes, that is a great job being done.
|
|
'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in
|
|
IP Logged |
|
|
|
commnman
Senior Member
Joined: 28/Jul/2010
Location: India
Online Status: Offline
Posts: 426
|
Posted: 04/Feb/2011 at 4:31pm |
Thanks rajnsharma and Basant ji.
I am indebted to TED and paying back in small installments 
Earlier I just used to trade, i.e. buy something based on Quarterly numbers. Then wonder - this company has posted 90% jump in profits and why is it still going down after I buy it.
Even now I do trading, but kept aside 50% of my money and slowly building a portfolio of some TED favorite stocks.
Also, I go thru lot of emotions when computing these numbers and just sharing it with fellow TEDs.
|
|
main toh aam aadmi hun... jo sunta hoon wohi sach maanta hoon
|
|
IP Logged |
|
|
|
Jaishrikrishna
Senior Member
Joined: 06/Sep/2008
Location: India
Online Status: Offline
Posts: 1132
|
Posted: 04/Feb/2011 at 4:52pm |
|
|
|
Don't Buy and Hold, Buy and Homework / Fish see the bait,but not the hook; Men see the profit, but not the peril.
|
|
IP Logged |
|
|
|
Active Topics
Memberlist
Calendar
Search
Help
Register
Login
