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Shree Digvijay Cement is an Indian company engaged in manufacturing and selling of cement. With its manufacturing facility based in Sikka, Jamnagar, Shree Digvijay Cement offers a wide range of products mainly focused to suit the needs of the consumers of domestic market. The company also exports cement and cement clinker to various countries, such as Bangladesh, Yemen, United Arab Emirates, etc. On the financial front, in the fourth quarter of FY19, the company reported net sales of Rs.108.67 crore, a decrease of around 12.90 per cent as compared to the net sales of the fourth quarter of FY18. PBDT decreased by 86.14 per cent to Rs.2.58 crore in the fourth quarter of FY19 as against Rs.18.61 crore in the same quarter of the previous fiscal. The company recorded net loss of Rs.2.24 crore for the fourth quarter of FY19 as against a profit of Rs.8.30 crore for the fourth quarter of FY18. On the annual front, the company’s net sales in FY19 were Rs.432.92 crore, a 2.06 per cent increase over the net sales of the previous fiscal. PBDT for FY19 decreased by 37.23 per cent to Rs.27.31 crore as compared to Rs.43.51 crore of FY18. In FY19, the company’s profit were less at Rs.2.06 crore as compared to Rs.13.37 crore in FY18. In FY19, the net profit decreased by around 6.33 per cent as against the net profit of the company in FY18. We recommend the reader-investors to EXIT the stock. 



Vidhi Speciality Food Ingrediants Ltd. is a company conducting business operations in the dyes and pigments industry. It is a Mumbai-based company having its factory and plant operations in Raigad district, Maharashtra. It is a manufacturer of food colours as ingredients of foodstuffs, pharmaceuticals, confectionery, pet foods, etc. The company provides synthetic organic colouring products. With exports accounting 96 per cent of the total revenue of the company, food colours of Vidhi Speciality are distributed and consumed across six continents. From the financial point of view, net sales of the company for Q4FY19 were Rs.61.92 crore as compared to the net sales of Q4FY18 of Rs.57.06 crore, a 8.52 per cent increase. For Q4FY19, the PBDT stood at Rs.11.85 crore, an increase of 57.58 per cent over Rs.7.52 crore for Q4FY18. For Q4Fy19, the company recorded a profit of Rs.7.78 crore, a 82.63 per cent increase from Q4FY18. On the annual front, for FY19, the company recorded net sales of Rs.228.35 crore, a 5.23 per cent increase when compared to the net sales of Rs.217 crore for FY18. The PBDT for FY19 stood at Rs.43.23 crore as against Rs.26.96 crore FY18, an increase of 60.35 per cent. Net profit was Rs.29.06 crore, an increase of 84.65 per cent compared to the net profit of Rs.26.96 crore for FY18. The company has recommended a final dividend of Rs.0.20 for the financial year ended March 31, 2019. Thus, HOLD.



Sterlite Technologies Ltd’s business activities involve manufacturing of telecommunication cables. The company has expanded its portfolio to manufacture and supply optical fibres, fibre optic cables, power transmission conductors, aluminium and alloy rods, copper telecom cables, structured data cables, and customer premise equipment and cable accessories. The company’s products cater to various sectors such as telecom, defence, oil and gas, railways, roadways, power, aviation and broadband. On the standalone financial front, the net sales of the company surged 132.80 per cent to Rs.1788.66 crore in Q4FY19 from Rs.768.31 crore in the same quarter of the previous year. The profit before interest, depreciation and tax (PBIDT) grew by 84.21 per cent in Q4FY19 at Rs.349.93 crore versus Rs.189.96 crore in Q4FY18. The profit after tax (PAT) stood at Rs.193 crore in Q4FY19, a substantial growth of 95 per cent from Rs.98.8 crore in the corresponding quarter of the previous year. On the annual front, the net sales have climbed 58 per cent to reach Rs.5,087.26 crore in FY19 as against Rs.3,205 crore in the previous fiscal. The PBIDT has increased 50.42 per cent in FY19 at Rs.1,127.15 crore versus Rs.749.35 crore reported in the previous fiscal. The PAT surged 58 per cent in FY19 as it came in at Rs.585.38 crore, while in the previous fiscal it was Rs.369.43 crore. Recently, Sterlite Technologies invested in an integrated system to radically shift global customer experiences by building robust planning and delivery processes. With customers spanning across countries in Asia, Europe, the Middle East and Latin America, manufacturing facilities in three continents, and a diverse data network solutions set, STL has a fairly complex demand-supply network. To help ensure a speedy and smooth implementation, STL designed an organic transformation recipe to enable rapid implementation of planning processes and tools. As a result, it selected SAP Integrated Business Planning solution and GitaCloud as the implementation partner for the solution. We recommend a HOLD.



Bandhan Bank is a commercial bank focused on serving underbanked and underpenetrated markets in India. It has a banking licence that permits it to provide banking services pan-India across customer segments. The bank currently offers a variety of asset and liability products and services designed for micro banking and general banking, as well as other banking products and services to generate non-interest income. Its asset products consist of retail loans, including a substantial portfolio of micro loans, as well as micro, small and medium enterprise (SME) loans and small enterprise loans. In addition to loan and deposit products, the bank also offers other banking products and services to generate non-interest income and cater to the additional needs of customers. On the financial front, the interest earned by the company for the latest quarter ending March 2019 has risen by 35.69 per cent to Rs.1,832.69 crore as against Rs.1,350.59 crore in the corresponding quarter of the previous year. The interest expended has increased by 18.07 per cent to reach Rs.575.21 crore in Q4FY19 from Rs.487.19 crore in Q4FY18. The profit after tax (PAT) has risen by 67.81 per cent at Rs.650.87 crore in Q4FY19, while in the same quarter of the previous year it was Rs.387.85 crore. On the annual front, the interest earned has risen by 38.35 per cent in FY19 to Rs.6,644.05 crore as against Rs.4,802.30 crore in the previous fiscal. The interest expended has increased by 21.35 per cent to Rs.2,147.95 crore in FY19 as against Rs.1,770.06 crore in FY18. The PAT has surged 45 per cent to reach Rs.1,951.50 crore in FY19 versus Rs.1,345.56 crore in FY18. On the valuation front, the company is available at a PE of 36.46 per cent on its TTM earnings. Bandhan Bank has recommended a dividend of Rs.3 per equity share having face value of Rs.10 each (i.e. 30%). Looking at the growth in the financial performance of the company, we would recommend a HOLD to our investor-readers. 



Timken India Ltd.is primarily engaged in the manufacture, sale and export for sale of anti-friction bearings, components and related parts. The company is also engaged in import and purchase for resale and acts as a sales agent for the products manufactured by The Timken Company. The company uses cellular manufacturing, which gives the plant flexibility to produce any part with a short lead time. The company provides friction management solutions for a wide range of industry applications across the globe. The company is also in the business segment of bearings and components. From an industry perspective, the Steel sector is expected to continue the growth chart and retain position at second place worldwide. On the financial front, the company’s net sales have increased by over 29.70 per cent to Rs.447.96 crore in Q4FY19 as against Rs.345.39 crore in the same quarter of the previous year. The PBIDT of the company has also increased by 119.83 per cent to Rs.101.21 crore in Q4FY19 versus Rs.46.04 crore in the same quarter of FY18. The profit after tax (PAT) has also surged by 141.43 per cent and stood at Rs.57.22 crore in Q4FY19 as against Rs.23.7 crore in Q4FY18. On the annual front, the company’s net sales have gone up 32.97 per cent in FY19 to Rs.1,664.43 crore as against Rs.1,251.77 crore in FY18. The PBIDT has jumped 76.79 per cent to Rs.288.64 crore in FY19, while in FY18 it was Rs.163.27 crore. The net profit of the company has gone up to Rs.148.64 crore in FY19 as against Rs.91.99 crore in FY18, a growth of 61.58 per cent. On the valuation part, the company is currently available at a PE of 34.75x as compared to industry PE of 32.05x. The return on equity (RoE) stood at 11.09 per cent and the return on capital employed (RoCE) was 16.82 per cent. The Company is virtually debt free and also is expected to give a good quarter going ahead. Based on the strong financials, we would like our investorreaders to HOLD the stock to reap the benefits.



HDFC Bank Limited is a Indian banking and financial services company. The bank offers a wide range of products and services consisting of wholesale banking and retail banking. It offers services in auto loans, vehicular loans, consumer durable loan, lifestyle loan and personal loans, to name a few. The bank also has credit card services for its consumers. The treasury segment consists of interest earnings from the bank’s investment portfolio, gain or losses on investment operations and on account of trading foreign exchange and derivative contracts. Other banking business includes income for the bank from the para banking activities. HDFC Bank was the first bank in India to launch an International Debit Card in association with VISA (VISA Electron) and issues the Mastercard Maestro debit card as well. From the standalone financial point of view, HDFC Bank has earned interest income of Rs.26333.25 crore for the fourth quarter of FY19, an increase of 23.51 per cent as compared to the net interest earned of Rs.21321.08 crore for the fourth quarter of the previous fiscal. The operating profit for the fourth quarter of FY19 has increased by 22.73 per cent to Rs.10843.60 crore as against Rs.8835.66 crore in the fourth quarter of FY18. There is an increase in the net profit by 22.63 per cent for the fourth quarter of FY19 to Rs.5885.12 crore as compared to Rs.4799.28 crore for the same quarter of FY18. From the annual financial front, the company reported interest earned of Rs.98972.05 crore for FY19, an increase of 23.34 per cent over Rs.80241.35 of FY18. For FY19, its operating profit was Rs.39749.72 crore as against Rs.32624.72 crore in FY18. In FY19, the net profit increased 20.54 per cent to Rs.21078.14 crore as compared to Rs.17486.75 crore in FY18. HDFC Bank has recommended a dividend of Rs.15/- per equity share of Rs.2/- each (i.e.750%) out of the net profits for the year ended March 31, 2019. We would recommend a HOLD to our investor-readers on the basis of strong financials of the company.

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