MODI XEROX: DOWN WITH RECESSION
Article Abstract:
Modi Xerox (MX) incurred a loss of Rs0.81 crore in the second quarter ended June 30, 1998. Its profit is likely to be hit as there is no change in the economic conditions. It had posted sales of Rs529.68 crore in the year ended December 31, 1997 (Rs473.58 crore in 1996). Its net profit declined by 73 percent in 1997. The write-back of taxes contributed Rs11.74 crore to its net profit in 1997. MX makes photocopiers and components like toners at its facility in Rampur. It sold 22,000 units of xerox machines in 1997 (18,349 units in 1996). It recently introduced the RX technology in the high-end and low-end models. Its after- sales service is ranked first by A&M-MARG and Business World survey. It is launching MajestiK - a colour copier which has a scanner and printer. It plans to increase its sales to US$1 billion by the year 2002. It has to post a growth of 50 percent a year to achieve this target. Its scrip is trading at Rs50. (rk) ------------------------------------------------------------ Financial results of Modi Xerox (Rs in crore) ------------------------------------------------------------ Particulars Q2 1998-99 H1 1998-99 1997 ------------------------------------------------------------ Income 108.76 242.43 529.68 ------------------------------------------------------------ Expenditure 102.52 227.60 493.67 ------------------------------------------------------------ Gross profit 6.24 15.32 36.01 ------------------------------------------------------------ Depreciation 1.67 3.32 6.35 ------------------------------------------------------------ Interest 5.67 10.98 20.56 ------------------------------------------------------------ Tax - 0.18 1.59 ------------------------------------------------------------ Net profit - 0.83 6.51 ------------------------------------------------------------ Equity 19.47 19.47 19.47 ------------------------------------------------------------ EPS (Rs) -* 0.85* 3.34 ------------------------------------------------------------ * : Annualised ------------------------------------------------------------
Comment:
Posts sales of Rs529.68 crore in year ending December 31, 1997
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1998
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CORPORATE FORECAST: LARSEN & TOUBRO
Article Abstract:
Research houses have predicted a consensus net profit of Rs488.60 crore for Larsen & Toubro in 1998-99 against its net profit of Rs419.77 crore in 1997-98. The company has posted a net profit of Rs72.1 crore in the first quarter of 1998-99. Birla Marlin Securities has predicted that the company will give an earnings per share (EPS) of Rs20.3 in 1998-99 while Cazenove India predicts an EPS of Rs19.7. DSP Merrill Lynch has forecast an EPS of Rs18.5 while Warburg Dillon Read of the US has predicted an EPS of Rs23.1 for the company in 1998-99. (khr)
Comment:
Research houses have predicted a consensus net profit of Rs488.60 crore for Larsen & Toubro in 1998-99 against its net profit of Rs419.77 crore in 1997-98.
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1998
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