Discrimination faced by Mumbaikars...

If the housing societies in Mumbai (Bombay) are only meant for families (married couples), then the government of Maharashtra should make marriage compulsory in the state/city.
Or else the government should tell its citizens where will Unmarried, Divorcees, Bachelors, Spinsters live in the city of skyscrapers or is Bombay only for those who have families.
This is one of the greatest mental blocks of Mumbaikars, who otherwise want to bask in the FALSE HALO of Cosmopolitanism.
This disease (of not giving apartments to Bachelors, Muslims, etc on rent) is specially prevalent in housing societies where the Gujaratis, Marathis and North Indians (to some extent) abound; while the rest of the population is more or less okay with the concept.
The government of Maharashtra should take this matter seriously and devise laws to eradicate this malice ASAP, so that BOMBAY (and its suburbs) becomes free of discrimination based on Marital Status, Religion, etc. Or else the Honourable Supreme Court of India should step in, and give directions to the state or central governments -- so that the fundamental rights of its citizens enshrined in the constitution of India is not violated.

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.