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06:52 pm : Flashes: Coal & Power Ministe: Expect Committee On UMPP To Submit Final Report By FY-end
06:51 pm : Flashes: Coal & Power Ministe: Will Make Sure Planned 5 UMPPs Get Timely Approvals
06:51 pm : Flashes: Coal & Power Ministe: All New UMPPs Will Get Handholding From The Govt
06:50 pm : Flashes: Coal & Power Ministe: Have Plans For UMPPs In Bihar & Jharkhand
06:50 pm : Flashes: Coal & Power Ministe: Will See Gradual Phase-out Of Exemptions
06:46 pm : Flashes: PM Said Any Positive Suggestion On Land Acqn Will Be Acted Upon
06:46 pm : Flashes: MoS Finance: Road Projects Can Be Jump-started Immediately With EPC
06:45 pm : Flashes: MoS Finance: Looking At Differential Voting Rights For PSU Bank Boards
06:45 pm : Flashes: MoS Finance: Looking At Innovative Instruments For Reinvigorating PSU Bank Boards
06:44 pm : Flashes: MoS Finance: Bank Bureau Will Be An Autonomous Body & Select Bank Chiefs
06:43 pm : Flashes: MoS Finance: Trying To Pass Constitutional Amendment To GST In This Session
06:43 pm : Flashes: MoS Finance: Can See Movement In Many Stalled Projects
06:42 pm : Flashes: MoS Finance:Govt Infra Investments Will Improve Rail Network
06:41 pm : Flashes: MoS Finance:Will Start Allocating Gross Budgetary Support Of Rs 70,000 Cr Immediately
06:40 pm : Flashes: Rs 70,000 Cr Divestment Target For FY16 Is Ambitious: :Divestment Secy
02:27 pm : Interpretations: 10% TDS introduced for PF withdrawal before 5 years
02:14 pm : Interpretations: Buyback tax up from 22.66% to 23.07% for unlisted companies
02:11 pm : Interpretations: Specific mutual fund service tax exemption withdrawn

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whatsupji | 2 min 24 sec

Guest ji: you also need to keep a watch on the balance sheet.. =============== Year ending March 2013 Net Current Assets: (Current Assets - Current Liabilities) =333.03Cr - 331.38Cr = 1.65Cr =============== Year Ending March 2014 Net Current Assets: (Current Assets - Current Liabilities) =498.53-452.81 = 45.72Cr There is a huge increase in net current assets in 2014 over 2013 =============== dig deeper .. there is an increase in inventory of: 97.11Cr 2014 inventory: 222.26Cr 2013 inventory: 125.15Cr =============== Look at it in another way.. 2013 total expense as percentage of sales: 94.99% 2014 total expense as percentage of sales: 95.86% Now if you had considered expense as % of sales as 94.99%(same as 2013) for 2014 what is the difference(increase in profits): Sales 1537.80Cr Expense @94.99% = 1460.75Cr Operating Profit: 77.05Cr Sales 1537.80Cr Expense @ 95.86% = 1474.13Cr Operating Profit: 63.66Cr Difference in Operating Profit: 13.38Cr =============== If you see the expenses have increased in 2014 and decreased profits by 13.38cr and coincidently is almost equal to the 15Cr .. which basically means input costs have increased..equal to the other income.. Now if input costs have increased .. would you increase your inventory when input costs are high..NO.. but inventory has also increased.. by 97Cr which is 77.59% increase in inventory.. ================ So you need to read between the lines.. castor seeds is the input costs and what is the shelf life of castor seeds? its in no of years.. So look at balance sheet as well as income statement.. just by increasing inventory you can influence the expense impacting net profits.. castor seed shelf life is pretty good.. ================ now look at current assets 6 months ending sept 2014 &sept 2013 net current assets sept 2013: 435.40 - 421.07=14.33cr (accounting period 2013-14) net current assets sept 2014: 482.63 - 448.44=34.19cr (accounting period 2014-15) even in financial year 2014-2015 current assets are increasing ================ stilll inventory buildup is happening.. hence expenses are increasing while profits are contracting further... but management is still buying stocks from the open market.. ================= conclusion: Investing is not just science its an art.. there are a number of ways to skin a cat.. and profits can be increased decreased by number of factors.. Look at big picture..Reserves is increasing, profits are increasing, debt is reducing, promoters are buying, dividend payout is continuing.. I think this fall in profits is temporary.. I cannot be 100% certain about inventory/net current asset/profit connection.. but looking at the big picture I am not concerned.. =happy investing whatsup-indianstockideas

saafes | 6 min 13 sec

shmarketgenius | 50 min 16 sec

Suheelan: Regarding biz channel anchors,one can`t blame them.They are told to put words in the other person`s mouth,if you are not smart..they will ground you.RJ was asked for a 2030 target,the moment he uttered it,that target was sensationalised(I am sure RJ said it on purpose) But before 1,00,000 on the sensex/nifty there will be days when we might even trade at 22-25k again! How many of us will be able to ride those corrections? A small 8% fall in indices,has brought many high-fliers to their knees.I see a lot of stocks off 40-50%,from their highs.Some are even hitting 52 week lows!! Leaving a lot of boarders in the dumps.Luckily for me,I exited RSS much earlier.A co. that used to trade at 5x becuase of client concentration,went to 18x without any change...and is back to 6-7x now!! Sonata,Rmtl,Krbl,Premco have held pretty strong.As much as we like to make quick money,one must realise that quick money evaporates as fast too. Many of the smaller stocks may never reach back to their earlier levels again.Check list for investing in a rising and a falling market MUST remain the same (I had said this earlier too)I agree with you on the macro front.However,markets at present are in no mood for good news.They are only concerned with pricing in BAD news.I feel Q4/Q1 are being priced in for many rural facing cos. already! I hold Tvs motors,and Q1 will be a litmus test.Though,I am happy to see the fall in Bata`s stock price. Quality has a premium...but a premium with 0 growth is not digestable.Hope the same happens with HUL too :DHaving said that,this is an excellent time to add.My sense is,the rise will be swift and sharp...and unexpected!! So,better to keep buying your favourite stocks on every decline.Disc.: Invested in most of the stocks mentioned above.

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ASK THE EXPERTS

27 March 2015, 15:30 PM

Mohit Gaba

Technical Analyst | tradeguruforum.com

UPCOMING CHATS

Mohit Gaba | Ajay Jain

PREVIOUS CHATS

Mohit Gaba | Ambareesh Baliga

budget impact

sector impact

Leather Products

14:33 pm

Govt reduces excise duty on leather footwear to 6%

Bata India 1079.50 -40.35
Relaxo Footwear 660.15 7.50
Mirza Intl 81.40 4.15
Sreeleathers 239.00 0.00

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Cigarettes

14:31 pm

Excise duty on cigarettes increased by 25% for sub-65 mm cigarettes

ITC 317.65 -4.75
VST 1556.05 7.05
Godfrey Phillip 425.35 -12.00
Kothari Product 213.25 0.75

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Transport & Logistics

14:01 pm

Service tax hike of 2.4% for non-economy class air travel

Container Corp 1557.95 -1.45
Jet Airways 452.55 2.25
Allcargo 300.55 -3.20
Aegis Logistics 553.95 -3.15

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Computers - Software

13:57 pm

Fee for technical services rate reduced from 25% to 10%

TCS 2557.90 44.80
Infosys 2202.15 55.80
Wipro 655.30 0.55
HCL Tech 962.85 -24.55

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Telecommunications - Service

13:56 pm

Govt reduces royalty rates

Bharti Airtel 376.50 -23.15
Idea Cellular 172.30 -8.25
Reliance Comm 58.35 -1.75
Tata Comm 430.35 2.40

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Media & Entertainment

13:54 pm

Entertainment sector removed from service tax negative list

Zee Entertain 337.50 -1.80
Sun TV Network 416.85 11.35
Dish TV India 80.40 1.65
DB Corp 361.00 10.40

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Auto - LCVs & HCVs

13:47 pm

Import duty on vehicles with capacity more than 10 seats increased to 40% from 10%

Tata Motors 563.90 13.00
Eicher Motors 15358.20 -180.00
Ashok Leyland 69.60 1.15
Force Motors 207.55 -10.90

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Steel - Large

13:46 pm

Customs duty on bituminous coal reduced to 10% from 55%

Tata Steel 315.10 -0.50
SAIL 68.90 -1.90
JSW Steel 911.90 27.05
Essar Steel 51.80 -5.30

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Consumer Goods - Electronic

13:44 pm

Customs duty on LED, LCD panels made nil

Videocon Ind 147.60 -1.45
Videocon Intl 84.25 -1.25
Mirc Electronic 9.40 -0.10
Sharp India 5.20 0.20

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