I had posted on the attractiveness of ICSA (India) Ltd. in an earlier post.
It has reported encouraging results for the first quarter of FY 09.
Sales increased by 97 % from 122.63 crore to 241.50 crore (YOY)
PAT increased by 71.28 % from 23.92 crore to 40.97 crore (YOY)
The EPS for the quarter works out to 9.3.
The company paid taxes of Rs.14.14 crore for the quarter representing 25.65 % of the profits before tax.
In my opinion a high percentage of tax payout testifies to the genuineness of the reported figures as opposed to accounting jugglery and speaks well for the company.
Monday, July 28, 2008
ICSA Q1 RESULTS UPDATE
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3 comments:
Mahendra: Can I buy banks or wait for better valuations? Today's selloff was terrible, was it justified?
Hi Uma,
Sorry for the delay in responding, but my net connection was down.
If you have a 1 year perspective, go ahead and buy them. They have rallied today, but maybe baceuse of F&O. In 1 year's time I expect 25 to 30 % returns from current levels. As you have gathered from my post on FMP's, the same has happened with PSU banks' debt portfolios. So it will last as long as interest rates go up, but once they stabilize or start going down you should get above normal returns.
Interesting post on ICSA
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