Presidential Elections: Support Dr.Meira Kumar

Bihar and Jharkhand governments have no choice but to support Dr.Meira Kumar. As defeat of "Bihar ki Beti" will invariably bring Shame to the Biharis and Jharkhandis (or erstwhile unified Bihar). Do you think that, people of Bihar will leave Nitish Kumar Scott - free, if Dr.Meira Kumar loses ? So, Nitish Kumar has very little option left but to support, Dr.Meira Kumar.

Moreover, if Nitish Kumar wants to fall in the BJP's well calculated electoral TRAP no one can save him in the next election.

Also, I am surprised to see Mr.Navin Pattanayak, so easily chewing the RSS bait. Orissa is a state, where there is large chunk of Tribal Christian voters loyal to the BJD (Biju Janata Dal). I am still to fathom, BJD's sudden electoral gamble of siding with the RSS and the BJP; when Mr.Pattanayak has been maintaining distance from them since some time.

Besides, the election of Dr.Meira Kumar, who is educated, experienced and very sober, might also correct some of the historical mistakes of not making her father, the Prime Minister of India.

Also, I don't think all the Muslim and Christian MPs and MLAs from the TDP and TRS will ever support a RSS backed Candidate, who acted against Dalit Christian and Muslin reservations. Therefore, invariably cross voting will take place, which might give the underdog, Ms.Kumar, a win. Support Dr.Meira Kumar, give a conscience vote and make her the 2nd Female President of India.

All the best to Dr.Meira Kumar.....👍✌

Tuesday, February 12, 2013

The Results of Jai Prakash Associates Ltd: The Worst is Over...
CMP: Rs.72.75
Jaiprakash Associates  today reported over 64% decline in standalone net profit at Rs.110.93 crore for  Q3FY13, as interest burden increased by over 20%. The Company has posted a net profit of Rs.1109.30 million for the quarter ended December 31, 2012 as compared to Rs.3097.70 million for the quarter ended December 31, 2011. Total Income has increased from Rs.31022.80 million for the quarter ended December 31, 2011 to Rs. 35160.20 million for the quarter ended December 31, 2012.
The company's total expenditure, at Rs.2,817.14 crore, amounted to nearly 83 percent of its net sales during the quarter, while its interest outgo increased by 20.67 percent to Rs 532.70 crore. Its other income, mainly interest on deposits, also declined by nearly 36% to Rs 85.15 crore, impacting company's financial results for the quarter. Among the different business segments, revenues from the real estate rose by 99% to Rs 612.36 crore, while revenues from cement segment was up nearly 7% to Rs.1,474.73 crore in the quarter.
Revenues from construction segment were up 2.71 percent to Rs 1,275.71 crore during the quarter. 
Conclusion: The results are  not upto the mark and the stock has reacted----come down by more than 12% from the price at which the institutional placement had been done. Also, more impact on the net profit was due to fall in the other income and also as a result of increase in finance cost. Hence, the results are more or less satisfactory, though cannot be said good. 
The Company earlier raised Equity Funds to the extent of Rs.532.90 Cr by  allotting of equity shares at an issue price of Rs.83 per share through QIPs. This will give some temporary relief to its working capital needs.  Later it might sell its cement division to cut down its debt drastically. Moreover, there were also BSE announcements that 89, 39, 157 shares of Jaypee Infra Ventures, a promoter group company of J P Associates Ltd,  which were encumbered have been released. This  is good news and shows that the worst could be behind the company. 
Now, coming back to the results once again we see that while the Gross Revenues for Q3FY13 increased by 15.5%, the EBIDTA decreased by 11.90% due to higher cost of inputs such as fuel and logistics. The PBT and PAT have been impacted by financing cost and depreciation. 
Earlier there were reports that Jaiprakash Associates Limited was planning to sell its cement plants in Gujarat and Andhra Pradesh to UltraTech Cement Limited and France based Lafarge to reduce its debt level. The report further added that Holcim was also interested acquiring the cement assets of Jaiprakash Associates Ltd. Last year, J P Associates hived Gujarat's and AP's cement plants into as a separate company called Jaypee Cement Corp. It runs two plants in Sewagram and Wanakbori in Gujarat, with a capacity of 2.4 Mn tons, and a 5-Mn-tons unit in Andhra Pradesh's Krishna district.
Hence, taking a overall view, I think, the good days are coming for the shareholders of J P Associates Ltd. CLICK HERE.