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Last Updated : Apr 05, 2012 11:35 AM IST | Source: Moneycontrol.com

Power sector results preview for March FY12: Emkay

Emkay Global Financial Services has come with its March 2012 quarterly earning estimates for power sector. According to the research firm EBITDA margin will decline by 145bps YoY while to improve by 484bps QoQ. Adjusted net profit will grow by ~47% QoQ and ~7% YoY.

 
 
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Emkay Global Financial Services has come with its March 2012 quarterly earning estimates for power sector. According to the research firm EBITDA margin will decline by 145bps YoY while to improve by 484bps QoQ. Adjusted net profit will grow by ~47% QoQ and ~7% YoY.

  • For 4Q12 results: We expect positive surprises from- KSK Energy (higher PLF in Wardha), PGCIL (higher capitalization), CESC (addtl revenue from 13% tariff hike) and NHPC (RoE grossing up at regular rate). Negative surprises are expected from- Adani Power (supply under PPA with GUVNL, fuel cost and depreciated rupee).
  • Lots of fast paced events leading to confusion and in turn huge volatility in stock prices. But on the other side, this also is giving lots of opportunities to buy into fundamentally strong businesses/assets at cheaper values.

Company NameNet Sales (Rs mn)APAT (Rs mn)
Q4FY12Q3FY12Q4FY11Q4FY12Q3FY12Q4FY11
Adani Power158881059485562720-6341744
CESC1275410320875019177401120
Gujarat Ind Power421538773117431168719
Jaiprakash Power349039671480305595172
JSW Energy1902417514141697332742048
KSK Energy660756963490951755377
Lanco Infratech3317230290205481542777-142
Nava Bharat228523362681582378651
NTPC167110153323155189265132163029824
Reliance Power594145734955225720391866

 

 

 

 

 

 

 

 

 

 

 

 

 

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First Published on Apr 5, 2012 09:57 am
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