Annual Report Highlights FY 12-13 : Piramal Enterprises

As per Chairman company is now committed to focus in three sectors: Pharmaceuticals, Financials and Information Management with substantial investment in each.  Company acquired Decision Resource Group (DRG).  DRG caters to the healthcare industry to provide research, information and analytics solutions.  Company also acquired Bayer’s imaging business and they have submitted the imaging agent (Florbetaben) for approval to USFDA and EMA.  Company also grew the NBFC business to invest in real estate and education sector.  They also made investments into infra-structure sector with investments of 925 cr.

Annual Report Highlights FY 12-13 : Engineers India Limited

For the financial year the company secured new business of Rs 1438 Cr which is around 89% higher than last year and most of it (Rs 1296 Cr) has been in consultancy segment.   Company seems to concentrate more on the consultancy segment going forward.  This is high margin segment unlike the turnkey which is low margin. Company’s mainstay continues to be Hydro Carbon  followed by Chemicals and Fertilizers.  Overseas consultancy contribution is around 12% of the total consultancy contribution.  Company has come out with a new project execution solution called Open Book Estimate which is beneficial to both customers and contractors.  They have secured some orders based on this mode.  Only time will tell if this is beneficial as the impact could not be understood.  As per company most of the competitors are introducing many business models and any core competencies are imitable and competitive advantage is short lived.  There is really no moat in these businesses.  Company was granted one patent and has applied for another one.  Company currently has 13 live patents and 17 are in pending approval.

Annual Report Highlights FY 12-13 : SUN TV

Topline was almost flat  and slightly positive while the bottom line was flat and slight negative.  Dividend was maintained at last year levels of Rs9.50.  Company successfully bid for the IPL franchise and has been awarded the Hyderabad Franchise.   Kal and South Asia FM had revenues of Rs112 cr and 90cr.  After minority interest, the profit of two subsidiaries was around 10.85 cr and 6.5 cr.  Both the subsidiaries have turned profit this year and are likely to get better in the coming years.  As per company, it has managed to have dominant position in southern states and it is the only player with maximum reach in the area it operates. 

Annual Report Highlights FY 12-13 - HDFC

Chairman has been candid in this one as his usual self.  He clearly mentions the vested interests that operate in the real estate segment which delay the crucial land acquisition bill and approval for real estate regulator to regulate the developers.  Also, he has commented that developers have to reduce the prices and concentrate on affordable housing as there is demand for that.  He does mention the risks that come in due to teaser rates and also developer financing through the customers.

The subsidiaries now contribute well over 27% of the total profit compared to 10% in 2010 which is incredible. Deposits of HDFC continue to be rated AAA. FII holding is at 74%. 

Annual Report Highlights FY 12-13 - Mayur Uniquoters

Company has successfully launched knitting unit as part of backward integration plan which should improve margins due to lower rejected.  Company is pursuing Mercedes and  GM accounts to add to the OEM portfolio.  Company is working in installing the 5^th coating line and the production of 6 lakh linear meters is likely to commence in Nov 2013 taking the entire capacity to 2.5M linear meters per month.  Company has already bought land for 6^th coating line and the expansion is planned next year to take the capacity to 3.1M lpm.   During last year company had very good volume growth as well as value growth.  The 5^th coating line would cater to the export demand.

Mayur is now the largest of the organized players in synthetic leather industry.  The revenue streams are primarily contributed by footwear (50%) and auto (35%)  and auto replacement.