Equitymaster Agora Research Private Limited

12 April, 2013

Ennore Coke Ltd.

Market data
Quarter results overview
Current price* Rs 15.8 (BSE)
Market cap * Rs 244.0 m
Result performance review
Face value Rs 10
BSE Code 512369
 Ennore Coke announced its results for the quarter ended
No. of shares 15.5 m December 2012. The company’s net sales declined 11% on a
Free float 31.7% QoQ basis and 78% on a YoY basis.
52 week H/L* Rs 30.4/15.3
*as on 12th April 13  The operating expenses declined 71% YoY lower than compared
to the decline in net sales of 78% YoY. As a result gross profit
declined. In fact, the company reported gross loss during the
Rs 100 invested is now worth quarter ended December 2012.
130
BSE500 Ennore coke  Depreciation expenses declined 13% YoY. However, interest
110 expenses increased by 16% YoY, further aiding to increase in
90 losses. It reported profit before tax of Rs -184 m for the quarter.
70
 At the net level, negative tax helped to reduce the loss to Rs 66
50 m for the quarter, but this was still substantially lower as
Apr-12 Aug-12 Dec-12 Apr-13 compared to net profit of 3QFY12, which was at Rs 11 m.

Quarter result comparison snapshot

Rs m Dec-11 Sep-12 Dec-12 QoQ ch YoY Ch
Shareholding (Dec-2012) Net Sales 1,723 422 374 -11.4% -78.3%
Category (%) Other income 23 4 6
Promoters 68.3 Turnover 1,746 426 380 -10.8% -78.2%
DIIs 0.0 Expenses 1,647 493 480 -2.6% -70.9%
FIIs 0.0 Gross profit 77 -71 -107
Others 31.7 Depreciation 46 40 40 0.0% -13.0%
Total 100.0 Interest 37 69 43 -37.7% 16.2%
Profit before tax 17 -176 -184 NA NA
Tax 6 -1 -118 NA NA
Profit after tax 11 -175 -66 NA NA
Report prepared by Gross profit margin 4.5% -16.8% -28.6%
Equitymaster Agora Research Effective tax rate 35.3% 0.6% 64.1%
Private Limited. Net profit margin 0.6% -41.5% -17.6%
www.equitymaster.com Diluted EPS 0.7 -11.3 -4.3
info@equitymaster.com Note: Quarter results exclude extraordinary / exceptional items | Wherever the results
are consolidated we have taken consolidated numbers else standalone. NA = Not
applicable

Current valuation

The company’s stock trades at Rs 16 per share. The trailing PE cannot

be calculated as the company has reported loss.

Initiative of the BSE Investors’ Protection Fund

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 12 April, 2013

Quarterly financial trend charts

Net Sales Profit after tax

2000 50
0
1500

(Rs m)
-50
(Rs m)

1000
-100
500 -150
0 -200
Mar-12 Jun-12 Sep-12 Dec-12 Mar-12 Jun-12 Sep-12 Dec-12

Gross profit margin Net profit margin

20.0 10.0
10.0 0.0
0.0 -10.0
(%)
(%)

-10.0 -20.0
-20.0 -30.0
-30.0 -40.0
-40.0 -50.0
Mar-12 Jun-12 Sep-12 Dec-12 Mar-12 Jun-12 Sep-12 Dec-12

Important Message from Equitymaster:

This report has been prepared exclusively for the BSE Investor Protection initiative.
The data for this report has been sourced primarily from the company’s Annual Report and other
publicly available information.
Equitymaster did not meet the management of this company in person.
Equitymaster insists that it makes no recommendation by way of presenting this report.
The only purpose of this report is to make available publicly information on the company to readers in
a format that is easy to understand

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