IFCI Ltd comes up with good results

IFCI Ltd came out with reasonably good set of numbers for the Q4FY12. The total income of the company for Q4FY12 came out to be Rs.801.42 Cr as against Rs.716.62 Cr in the same period previous year. The net profit of the company for Q4FY12 came out to be Rs.219.25 Cr as against Rs.233.03 Cr in the same period previous year. The EPS of the company for Q4FY12 came out to be Rs.2.97 as against Rs.3.16 in the same period previous year. IFCI Ltd has also, informed BSE that the Board of Directors of the Company at its meeting held on April 17, 2012, inter alia, has recommended a dividend @ Re.1 per share i.e. 10% for the year ended March 31, 2012, subject to the approval of shareholders at the ensuing Annual General Meeting. 

The Chart of IFCI Ltd

It has a real estate division known as IFCI Infrastructure Development Ltd (IIDL) which had been promoted as a wholly owned subsidiary of the Company, as an instrument for unlocking  value from real estate held by IFCI by way of its office and  residential properties, acquiring valuable and strategic real estate in the process of recovery from NPAs of IFCI and availing new  opportunities in real estate development through development  authorities. Over the years, IIDL has expanded its asset base by  purchasing assets and intensifying development work on such assets at  various geographical locations in the country and made its presence  felt on a pan India basis. IIDL, with its implementation of projects like Service Apartment  Project at Delhi, Hotel Project at Lucknow, Financial City project at  Bengaluru and residential projects in NCR and Kochi, is one of the  growth engines in the development of real estates and infrastructure, to which impetus is given by Government of India. IIDL has also secured an important opportunity to participate in the  development of a food park approved by the Ministry of Food &  Processing Industries, Government of India during FY11. IIDL has also formed a Special Purpose Vehicle (SPV) named JANGIPUR BENGAL MEGA FOOD  PARK for the development of the food park.
Now with an FY12, EPS of Rs.8.99, and a FY12 dividend of 10%, the stock is ready to soar up. The cut in the interest rate by the RBI would have positive effect on the company. The immediate targets for the scrip are Rs.45-48-51-56-64. For more CLICK HERE.