Shreyas Shipping & Logistics slides after lower FY 2009 net profit

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SMS BOS < SPACE > MF, MUTUAL FUND QUERY AT 56388
COS GETTING FRESH FDI IN SECTORS WHERE FDI CAPS HAVE GONE UP: SOURCES
NEW NORMS TO CONSIDER TOTAL FOREIGN INVESTMENT NOT TOTAL INVESTMENT: SRCS
CCEA NOD NEEDED ONLY FOR INVESTMENTS OF RS.1200 CR AND ABOVE: SOURCES
GOVT TO EASE NORMS FOR FDI REQUIRING CABINET APPROVAL: SOURCES
NO PLANS TO OFFER HOME LOANS AT 8%: NW
OCTOBER UNEMPLOYMENT RATE RISES TO 10.2% VS 9.8% (MOM)
EMPLOYERS CUT PAYROLLS BY 190,000 IN OCTOBER VS ESTIMATE OF 175,000
FOREIGN FUNDS NET BUY RS.587.02 CR IN EQUITIES ON NOVEMBER 6 (PROVISIONAL)
DOMESTIC FUNDS NET BUY RS.236.62 CR IN EQUITIES ON NOVEMBER 6 (PROVISIONAL)
KINGFISHER RAISES FUEL SURCHARGE BY RS.200 ON SECTORS MORE THAN 1000 KM
KINGFISHER RAISES FUEL SURCHARGE BY RS.100 ON SECTORS UPTO 1000 KM
JET AIRWAYS RAISES FUEL SURCHARGE BY RS.100-150 ON SECTORS UPTO 1000 KM
NET PROFIT AT $455 MN VS LOSS OF $24.6 BN (YOY)
TOTAL REVENUES AT $26.05 BN VS $898 MN (YOY)
MUTUAL FUNDS NET BUY RS.34.3 CR IN EQUITIES ON NOVEMBER 5
FOREIGN FUNDS NET BUY RS.267.6 CR ($56.8 MN) IN EQUITIES ON NOVEMBER 5
OVER 7% GROWTH ACHIEVABLE IN FY'11
TO EXPLORE STIMULUS EXIT MODE NOW; WINDING DOWN STIMULUS TO CUT DEFICIT
SENSEX UP 1.65%, NIFTY UP 1.8% FOR THE WEEK
CNX MIDCAP INDEX UP 3.9%, BSE SMALLCAP INDEX UP 1.6%
BSE PSU INDEX UP 4.77%, REALTY UP 4.4%, METAL INDEX UP 4%
INDEX GAINERS: BHARTI UP 9.4%, JP ASSOCIATES UP 8.6%, IDFC UP 7%
GETS U.S. FDA NOD FOR GENERIC ACULAR
TO RAISE UPTO $300 MN VIA FCCBS
EXTENDING 8% HOME LOAN SCHEME TILL 31ST MARCH , 2010
INDIAN RAILWAYS SHOULD RATIONALISE PASSENGER FARES UPWARD
TO RAILWAYS: STOP CROSS SUBSIDISING FARES AND FREIGHTS
IMPOSES 20% SAFEGUARD DUTY ON IMPORT OF SODA ASH
ROAD DEFICIT REMAINS THE GREATEST PROBLEM IN INFRASTRUCTURE IN INDIA

Updated: 18/06/2009 | 12:00 AM IST

Shipping

Capital Market

Thursday, June 18, 2009 (New Delhi)

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Meanwhile, the BSE Sensex was down 4.70 points, or 0.03%, 14,518.14.

On BSE, 100 shares were traded in the counter. The stock had an average daily volume of 9,160 shares in the past one quarter.

The stock hit a high of Rs 33 and a low of Rs 33 so far during the day. The stock hit a 52-week high of Rs 69.95 on 17 June 2008 and a 52-week low of Rs 16.75 on 3 March 2009.

The small-cap stock had underperformed the market over the past one month till 17 June 2009, rising 12.94% as compared to the Sensex's return of 19.30%. It had also underperformed the market in the past one quarter, gaining 62.71% as compared to the Sensex's return of 63.84%.

The company's current equity is Rs 21.96 crore. Face value per share is Rs 10.

The current price of Rs 33 discounts the company's Q4 March 2009 annualized EPS of Rs 24.54, by a PE multiple of 1.34.

Shreyas Shipping & Logistics' net sales declined 2.1% to Rs 283.90 crore in the year ended March 2009 over the year ended March 2008. However, the performance was robust on a standalone basis. The net profit surged 78.9% to Rs 14.99 crore on 14% fall in net sales to Rs 145.82 crore in the year ended March 2009 over the year ended March 2008.

The company posted turn around results for the quarter ended March 2009 on the back of foreign exchange gain of Rs 15.70 crore. The company reported net profit of Rs 13.47 crore in Q4 March 2009 as compared to net loss of Rs 7.36 crore in Q4 March 2008. The company's net sales declined 50.8% to Rs 23.28 crore in Q4 March 2009 over Q4 March 2008.

The company declared the results after market hours on Wednesday, 17 June 2009.

Shreyas Shipping & Logistics' provides shipping and logistics services. The shipping segment provides charter and feeding services. The logistics segment comprises of shipping part of domestic and liner business.