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mittar_b's review
Investment Sector: Emerging Markets Submitted by Mittar_b 
, Project Manager
at Softprodigy
3 months ago Add Tag |
Company is planning to set up ports in Brazil, China and Vietnam to provide integrated support for its steel and power generation businesses there. ESPLL is also planning to build an integrated terminal facility at Salaya in Gujarat for handling coal and pet coke used in power plants. At Hazira, Essar is constructing an all-weather deep-draft port capable of handling up to 1,05,000 dwt bulk carriers to import iron ore, pellets, coal, limestone etc and export finished steel products. Company has plans to invest Rs 10,000 crore in next 3-5 years so that capacities of Ports and terminals division will increases from 10.50 million metric tonnes per annum (mmtpa) to 34 mmtpa with an investment of Rs 4,354 crore.
Company has posted a phenomenal rise in its financial results for the quarter ended March 31,2008 . During the quarter, Net profit of the company surged by 189.8 per cent to Rs 110.71 crore as against Rs 38.2 crore for the quarter ended March 31, 2007 while Gross profit of the company during the quarter shot up by 160.53 % to Rs 151.55 crore when compared with Rs 58.17 crore in the corresponding time period last year.Total income of the company for the quarter witnessed a hike of about 49 per cent from Rs 209.73 crore to Rs 312.54 crore. However, Net Sales of the company falls marginally to 205.74 crore as against 209.42 crore last year. Total Expenses of the company for the quarter ended March 31,2008 climbed 15.09% to 147.92 crore as against 128.52 crore in the corresponding time period last year.
As far as yearly results are concerned Company has posted a standalone net profit of Rs 241.67 crore for the fiscal ended March 31,2008 as against Rs 133.98 crore, registering a hike of 80.38 % over prior year period. However, The total income of the company for the financial year 2007-08 surged to Rs 1,058.72 crore as against Rs 1,039.72 crore for the fiscal ended March 31,2007. On Consolidated Basis net profit of the company for the financial year ended March 2008 registering a growth of 75% to Rs 277.43 crore when compared with Rs 157.75 crore for the financial year 2006-2007.
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