Aiming 18-20% PBT margin, 11% PAT margin: Mayur Uniquoters

Mayur Uniquoters expects its exports to double over the next 3-4 years, Suresh Kumar Poddar, CMD and CEO of the company said in an interview to CNBC-TV18.

Mayur Uniquoters  expects its exports to double over the next 3-4 years, Suresh Kumar Poddar, CMD and CEO of the company said in an interview to CNBC-TV18.

He said his company is aiming for a pre-tax profit margin of 18-20 percent and a post tax margin of 11 percent.

Poddar said the footwear business contributed 46 percent to total revenues and the automotive business 38 percent.

Below is the transcript of Suresh Kumar Poddar's interview with Sumaira Abidi and Reema Tendulkar on CNBC-TV18.

Sumaira: One of the factors that Macquarie mentions in their report is the kind of growth that you can expect from your exports. Can you tell us how much exports currently contribute to your revenue and what are the key geographies or clients that you could be targeting over there for the next three years?

A: Our export growth this year will be between 20 percent and 22 percent and mainly we are exporting to automotive original equipment manufacturer (OEM) companies in America like Ford and Chrysler and there we will have about 15-16 percent growth this year. Then general export to all other parts of the world like Europe, UK, African countries, Middle-East, Gulf, European countries, there our growth will be more than 40 percent this year.

Next three years also we expect to grow fast in exports segment. I expect to grow 100 percent between next 3 and 4 years in exports.

Although, our presence was there in general exports, we were not very keen. Now, from last six months to one year, we have appointed three-four different distributors, agents to all parts of the world and we are getting a very good result. We hope that we should able to have at least 20 percent growth in the next four years time in exports.

Reema: And you also exports to double in three to four years. Could you tell us what the realisations are for your exports business vis-à-vis the domestic business or just generally if you could help us with your margins. We have your consolidated margins which in the last quarter was around 20 percent. Can you tell us the earnings before interest, taxes, depreciation and amortization (EBITDA) margins for the domestic business as well as the EBITDA margins for export business?

A: You can say export maybe 10-15 percent more than what we earn in domestic. Export margins are better.

Reema: So, overall with exports contributing more and more with the kind of growth that you are expecting, what could be your average margins, sustainable margins in FY16 and FY17?

A: We should able to sustain the margin if everything goes the way we are planning. I do not see there should be any problem.

For complete interview, watch accompanying video...

Mayur Uniquoter stock price

On April 16, 2015, at 14:30 hrs Mayur Uniquoters was quoting at Rs 466.30, up Rs 4.20, or 0.91 percent. The 52-week high of the share was Rs 514.60 and the 52-week low was Rs 270.00.

The company's trailing 12-month (TTM) EPS was at Rs 15.29 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 30.5. The latest book value of the company is Rs 27.36 per share. At current value, the price-to-book value of the company is 17.04.

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Watch the interview of Ankur Kapur of finqa.in with Sumaira Abidi and Reema Tendulkar on CNBC-TV18. He spoke on various investment options.

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Watch the interview of Ankur Kapur of finqa.in with Sumaira Abidi and Reema Tendulkar on CNBC-TV18. He spoke on various investment options.

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Smruthi Organics: Updates on strike at Solapur plants

Smruthi Organics Ltd has informed BSE that in the Company's two plants at Solapur the workers have commenced on strike from April 13, 2015 onwards.

Smruthi Organics Ltd has informed BSE that in the Company's two plants at Solapur the workers have commenced on strike from April 13, 2015 onwards.The management of the Company is very keen to restore the normal functioning and efforts are made to negotiate with the workers.The strike may affect the working of the Company and the financial performance during the current financial year.Source : BSE

Read all announcements in Smruthi Organic

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Super Domestic Machines: Outcome of board meeting

Super Domestic Machines Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 01, 2015, has appointed Mrs. Poonam Nirav Shah as Independent Women Director of the company w.e.f. March 31, 2015.

Super Domestic Machines Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 01, 2015, has appointed Mrs. Poonam Nirav Shah as Independent Women Director of the company w.e.f. March 31, 2015.Source : BSE

Read all announcements in Super Domestic

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Garware Wall Ropes appoints Sunil Agarwal as compliance officer

Garware Wall Ropes Ltd has informed BSE that Mr. Sunil Agarwal, Company Secretary of the Company, is also designated as the Compliance Officer of the Company with effect from April 14, 2015.

Garware Wall Ropes Ltd has informed BSE that Mr. Sunil Agarwal, Company Secretary of the Company, is also designated as the Compliance Officer of the Company with effect from April 14, 2015.Source : BSE

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EEPC India inks pact with German body for promotion of SMEs

To boost business ties between India and Germany with particular emphasis on the SME sector, engineering exporters' body EEPC India has signed an agreement with the German Association for Small and Medium-sized Businesses (BVMW) here.

"The MoU was signed after Prime Minister Narendra Modi inaugurated the India Pavillion at the Hannover Messe on April 13," EEPC India said in a release.

Around 350 Indian firms are participating in the Hannover Messe, showcasing India's prowess in high technology areas.

Besides, the new flagship initiative Make in India of the government is being disseminated and promoted at the fair, which is visited by business and technology leaders from all over the world.

As per the agreement, EEPC India and BVMW will exchange information on economic and commercial matters - trade, investment and technology transfer opportunities as well as trends.

The two organisations will provide and facilitate assistance to visiting delegations to promote their business missions.

Moreover, in order to substantiate and add value to the B2B portal launched by EEPC India, BVMW will put in best possible efforts to fix meetings for the Indian companies with German counterparts.

"Being one of India's largest trading partner globally, Germany's Technological excellence and quality control would support India in exploiting the capabilities of the two countries to enhance manufacturing efficiencies leading to value addition," EEPC India Chairman Anupam Shah said at a concurrent seminar at the Hannover Messe.

Shah said R&D expenditure in Germany is quite significant in almost all sectors and the two countries can leverage from their mutual strengths. With the presence of more German firms in India its product quality in all possibilities will improve in the future.

With USD 20 billion bilateral trade during 2013-2014, Germany is India's sixth largest trading partner engaged in the areas of automobiles, chemicals, services, nuclear reactors, construction etc. Large German companies have been stepping up their existing investments and several new companies have entered the Indian market. In the last few years, all the major German automobile giants (BMW, Daimler, MAN AG, Audi, Volkswagen and Porsche) have established manufacturing facilities/assembly plants in India.

A large number of Indian companies have also set up their base in Germany. These include Suzlon, Bharat Forge, Samtel, Mahindra & Mahindra, among others, with substantial investment, Mr Shah said.

PTI

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See 15% sales growth in Q4, to cut debt by yr-end: Vadilal

Vadilal is one of the largest ice cream manufacturers in India with a 15 percent market share in the domestic business, being second to Amul in terms of volumes.

Vadilal Industries  has been in the news of late on falling demand due to unseasonal rains and impending restructuring. The stock is up 38 percent from the start of 2015.

Discussing the latest plans and future outlook, CMD Rajesh Gandhi said the March-April sales have not been very encouraging and the company is expecting a 15 percent growth during the quarter.

Vadilal is one of the largest ice cream manufacturers in India with a 15 percent market share in the domestic business, being second to Amul in terms of volumes. The company has an integrated supply chain and around 78-80 percent revenues come from the ice cream business. It has plants in Gujarat & Bareily. The other businesses include dairy, chemicals and realty.

According to an Antique report, the promoters have been planning to merge Vadilal Industries and Vadilal Enterprises with an intention to exit from non-core business like frozen foods and gas. The company's frozen foods business valued is at Rs 60 crore and it plans to pare debt with the sale proceeds.

In an interview to CNBC-TV18, Gandhi said the company has sufficient capacity and that no further capex is planned. He said the merger of Vadilal Enterprises  with the company may take 8-9 months. "We expect sales of Rs 550 crore for the merged entity, with margins of 13.5-14 percent," Gandhi said, adding that the company is looking to reduce debt to Rs 150-160 crore by year-end.

for full interview

Vadilal Ind stock price

On April 15, 2015, at 14:30 hrs Vadilal Industries was quoting at Rs 338.20, down Rs 17.8, or 5 percent. The 52-week high of the share was Rs 361.00 and the 52-week low was Rs 155.00.

The company's trailing 12-month (TTM) EPS was at Rs 2.00 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 169.1. The latest book value of the company is Rs 73.29 per share. At current value, the price-to-book value of the company is 4.61.

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See strong order book pipeline for FY16: NBCC

The company is in close negotiations with Odisha government and also with UP, West Bengal governments for other redevelopment project, said Anoop Kumar Mittal, chairman, NBCC.

The government is likely to offload 15% stake in NBCC , however Anoop Kumar Mittal, chairman of the company said they haven't heard anything officially from the government yet.

Talking about the outlook going forward he said the company has already signed an agreement with Delhi Development Authority (DDA) for the Karkardooma redevelopment project and there is another project in Delhi of size of Rs 1500 crore in the pipeline.

The company is in close negotiations with Odisha government and also with UP, West Bengal governments for other redevelopment projects, said Mittal. So, the order book pipeline looks quite strong for FY16 he added.

The current order book till March 2015 was Rs 20,000 cr till March 2015, excluding the DDA project, said Mittal.

transcript to follow

NBCC stock price

On April 15, 2015, at 14:31 hrs National Buildings Construction Corporation was quoting at Rs 937.85, down Rs 21.4, or 2.23 percent. The 52-week high of the share was Rs 1087.00 and the 52-week low was Rs 169.90.

The company's trailing 12-month (TTM) EPS was at Rs 20.86 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 44.96. The latest book value of the company is Rs 93.94 per share. At current value, the price-to-book value of the company is 9.98.

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Over 76,000 farmers identified for relief in Muzaffarnagar

The Union government had reduced the criterion of 50 per cent crop damage for providing compensation to farmers to 33 per cent on April 8 following which fresh assessment were carried out

In the fresh assessment of losses of crops, the district authorities have identified over 76,000 farmers affected due to untimely rain and hailstorm for compensation.

Revenue officials have identified 76,996 rain and hailstorm hit farmers for compensation, District Magistrate Ramkishan Sharma said, adding that Rs 6.86 crore compensation has been distributed among 17,772 till on Monday.

A demand of Rs 48 crore has been sent to state government for the compensation of the affected farmers in the district, the DM said.

Notably, the Union government had reduced the criterion of 50 per cent crop damage for providing compensation to farmers to 33 percent on April 8 following which fresh assessment were carried out.

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SEBI under fire over IPO bottleneck

The Securities and Exchange Board of India (SEBI), under pressure to tighten scrutiny, is taking as long as a year to approve initial public offerings, prompting criticism from firms already grappling with unpredictable demand and a lack of alternative funding sources.

India's stock market has soared, touching record highs last month. It was Asia's second-best performer last year, thanks largely to more than USD 16 billion of foreign investment.

But the boom has failed to translate into many IPOs, a vital source of capital especially for small companies which make up the bulk of the economy yet often struggle to access keenly priced bank loans.

Money raised from public offerings has dropped from a peak of USD 8.47 billion in 2010 to just over USD 250 million so far this year, according to Thomson Reuters Data.

Investor demand has been lukewarm, and India has seen lacklustre debuts in 2015. Private equity firms, key drivers of the market, have also struggled to exit through listings that would in many cases crystallise losses.

But some bankers and companies say delays in the review of listing documents by the SEBI are complicating the listing process, jeopardising billions of dollars of extra liquidity for Indian shares.

"Getting an approval takes a lot of time, and after that, unless you have four or five merchant bankers willing to underwrite the whole issue, it becomes very difficult to raise money," said Nevil Savjani, vice president at boutique merchant banker Corporate Strategic Allianz Limited.

Savjani advised edible oil producer NCML Industries on a USD 10 million listing that was shelved in January. SEBI took 18 months to approve that prospectus.

"SEBI's guideline is that they approve it within 30 days, after an in-principle nod from the stock exchanges. But generally, if you look at any of the IPOs it takes it at least one year."

The time regulators take to approve listing prospectuses can vary depending on everything from the quality of the document to the amount of IPOs in the pipeline. But Hong Kong, for example, typically takes a month or two, and no longer than six months.

DOCUMENTS WITHDRAWN OR LAPSED

A SEBI spokesman did not comment on market participants' complaints that it was slow to approve IPOs.

But officials said privately that the regulator was under pressure to avoid failures that could burn India's army of retail investors, stretching already limited resources.

It also wants to prevent a repeat of cases like property developer DLF, penalised by SEBI last year for disclosure problems around its record 2007 listing. The penalty was overturned on appeal.

Close to 700 billion rupees (USD 11.2 billion) of approved offer documents have either been withdrawn or lapsed in the last five years, according to a SEBI official who declined to be named.

Inox Wind Ltd (INWN.NS), an alternative energy firm which began trading this month, had to wait for a year before its listing plans were approved. Its bankers, awaiting a favourable moment, took another eight months to get the shares to market.

"They (SEBI) have been ... very slow and that's been a trend with the entire bureaucratic process in India," said Devansh Jain, a director of Inox Wind.

For a handful of larger companies, the alternative is to raise cash abroad.

Satellite TV company Videocon d2h withdrew its pending IPO prospectus last month after waiting for two years to go public. Instead it listed on the Nasdaq through a reverse takeover.

For small firms the problem is tougher. Many are struggling to raise affordable funding from banks, themselves battling with hefty piles of soured loans.

SEBI has long struggled with balancing the needs of small investors and those of the market.

In 2012, SEBI considered making it mandatory for underwriters to buy back shares from retail investors if a company's shares fell below the IPO price. The regulator later shelved the plan after facing stiff resistance from bankers.

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