In today's ( 20.08.2018 ) trade, Vadilal Industries stock tanks 20% due to miss-accounting on realisation of Revenue. As per reliable source, Cos has been taking in book Revenue on ex-factory basis.ASHISH KACHOLIA has sold some chunk of its stocks, while Porinjue has entered at lower levels.
As per our estimates, the Operating Profit Margin (OPM%) which is 24.28% in June 2018, is required downward revision to say ~ 6%.If we take the sun of last 4 quateres (including June 2018) as below:
Revenue: 541 Cr
OMP : 6%
Operating Profit: 32.46Cr
Interest cost : 15Cr
Tax @33% : 5.76Cr
Net Profit : 11.7Cr
Intrinsic Value ( Earning Power Value Method ) Per Share : Rs.207
As per our estimates, the Operating Profit Margin (OPM%) which is 24.28% in June 2018, is required downward revision to say ~ 6%.If we take the sun of last 4 quateres (including June 2018) as below:
Revenue: 541 Cr
OMP : 6%
Operating Profit: 32.46Cr
Interest cost : 15Cr
Tax @33% : 5.76Cr
Net Profit : 11.7Cr
Intrinsic Value ( Earning Power Value Method ) Per Share : Rs.207
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