JP Associates Q1 PAT seen down 8.8% at Rs 125.8 cr: MOST
Motilal Oswal expects Jaiprakash Associates to report a 5.6 percent growth quarter-on-quarter (degrowth of 8.8 percent year-on-year) in net profit at Rs 125.8 crore.
July 29, 2013 / 11:23 IST
Motilal Oswal has come out with its first quarter (April-June) earnings estimates for the construction and cement sector. The brokerage house expects Jaiprakash Associates to report a 5.6 percent growth quarter-on-quarter (degrowth of 8.8 percent year-on-year) in net profit at Rs 125.8 crore.
Revenues are expected to decrease by 12.9 percent Q-o-Q (up 13.6 percent Y-o-Y) to Rs 3366.9 crore, according to Motilal Oswal.Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to fall by 9.7 percent Q-o-Q (down 0.4 percent Y-o-Y) to Rs 767.9 crore.Motilal Oswal report on Jaiprakash AssociatesIn 1QFY14E, we expect Jaiprakash Associates (JPA) to post revenue of INR33.7 billion, EBITDA of INR7.7 billion and net profit of INR1.3 billion.In cement business, we have assumed a realization of INR4,087/tonne v/s INR4,147/tonne sequentially. We have estimated volumes of 4mt, flat sequentially.EPC division's revenue is expected at INR13.5 billion (up 11 percent Y-o-Y) and EBIT margin of 24 percent v/s 29.6 percent Y-o-Y.Media report indicated that JPA has postponed the disinvestment of its cement units in Gujarat and Andhra Pradesh.We expect JPA to post standalone net profit of INR6.9 billion in FY14E (up 36.9 percent Y-o-Y) and INR10.4 billion in FY15E (up 51.7 percent Y-o-Y). The stock trades at a reported PER of 11 x FY15E. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
