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Thursday, August 02, 2012

Prakash Industries Ltd: Bright Future Ahead
Prakash Industries Ltd (CMP: Rs.63.55) is coming out with consistent set of good numbers since the last few quarters. If we look at the March, 2012, quarter results of the company, then we would find that the net sales jumped to Rs.629.81 Cr as against Rs.401.83 Cr in the same period previous year. Inspite of higher expenditure and higher interest cost, the PBDT of the company for Q4FY12 came out to be Rs.100.99 Cr as against Rs.88.22 Cr in the same period previous year. The net profit of the company (inspite of higher depreciation), for Q4FY12 came out to be Rs.76.11 Cr as against Rs.72.09 Cr in the same period previous year. The EPS of the company for the March, 2012 came out to be Rs.5.66 as against Rs.5.36 in the same period previous year. The EPS of the company for FY12 came out to be massive at Rs.19.94. I am expecting the stock to cross Rs.100 in the near future, especially in the view of an QE3, from Uncle Sam within a couple of months. If you remember, last time, I recommended the stock at Rs.45-47. After that, the investors, we repeatedly, asked to accumulate the scrip on all declines. The first target of Rs.62, has long been achieved. Today it broke out of the long term pattern on the Candle Stick Charts and surged ahead.
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