Shreyas Shipping & Logistics slides after lower FY 2009 net profit

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MAY JOIN RACE FOR SHELL'S EUROPEAN REFINERIES: SOURCES
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CNX MIDCAP INDEX UP 1%, BSE SMALLCAP INDEX UP 1.6%
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INDEX GAINERS: SUZLON UP 9.3%, TATA STEEL UP 6.3%, SAIL UP 5.3%
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ESSAR-SHELL IN EXCLUSIVE NEGOTIATIONS TILL NOV 30 TO BUY 3 SHELL REFINERIES
APPROACHED SHELL FOR BUYOUTS BEFORE ESSAR'S EXCLUSIVE TALKS BEGUN
JSW ENERGY ALSO IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
CESC, SREI INFRA IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
GAMMON INFRA BAGS NHAI PROJECT WORTH RS.850 CRORES
NET PROFIT AT RS.48.2 CR VS RS.12 CR; SALES UP 55% AT RS.849 CR (YOY)
PROFIT UP 55% AT RS.143.50 CR; NET SALES UP 22.5% AT RS.2234.20 (YOY)
IMPORTING SUGAR BEING REVIEWED; NEED FOR ECONOMIC PRICING OF SUGAR
IN DISCUSSIONS WITH FARMERS TO COME AT PRICE COMFORTABLE FOR BOTH SIDES
TOO EARLY TO TALK OF DENA BANK MERGER WITH ANOTHER PSU BANK: NW
KEEPS OVERNIGHT LENDING RATE UNCHANGED AT 0.1%
STILL SEE DOWNSIDE RISK FOR THE ECONOMY
AIM TO CONVERT NON USERS TO USERS WITH THE HELP OF ROAMING TARIFF CUTS
PREFER TO REMAIN AGGRESSIVE WITHOUT GETTING INTO A PRICE WAR
MURTAZA KHORAKIWALA TO NDTV: CANNOT COMMENT ON SUB JUDICE MATTER
WOCKHARDT TO PAY BACK ALL SECURED, UNSECURED LOANS IN 5 YRS AS PER CDR
DBS TOP BRASS MET HABIL KHORAKIWALA TO DISCUSS WAYS OF SETTLEMENT: SRCS
EYEING TO SETTLE PAYMENT DEFAULT CASE OUT OF COURT: SOURCES
ALERT: ROAMING CONTRIBUTES 15% OF BHARTI REVENUES
ROAMING CALLS ON OTHER NETWORKS AT 80 PAISE/MINUTE
ROAMING CALLS ON OWN NETWORK AT 60 PAISE/MIN
SWAP TO REDUCE OVERALL FINANCE CHARGES FOR THE COMPANY: CFO
COMPLETES SWAP OF $875MN FOREX CONVERTIBLE BONDS

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.