278469ff-8969-49ab-b05c-62b87a4384ab.pdf (1.3 MB)
Results are out and seem decent considering the pandemic.
Consolidated revenue is down 13.5 % at 16.02 crore as compared to 18.53 crore last year
in that other income has increased from 17 lac to 98 lac . this is mostly interest income showing a good increase.
loan interest cost has reduced 17% to 4.32 crore from 5.22 crore last year
tax paid is 1.22 crore resulting in a tax rate of 25%.
No exceptional taxes this time.
pbt down 10% at 4.91 crores from 5.4 crore last year
pat is down 23 % at 3.68 crores but income tax paid is almost double of last year
In the other comprehensive income section this time theres a massive profit as compared to a massive loss last quarter
theres a other comprehensive income before tax of 87.6 crores
income tax paid on this other comprehensive income is 14.63 crores
and after tax this income is 73 crores
total comprehensive income this quarter comes to 76.72 crore
i dont know the nature of this comprehensive income because nothing is mentioned in the notes to accounts.
seems like land sale income to me but i may be wrong
Overall barely any pandemic impact in terms of income from real estate ( biggest client is tech mahindra and the it majors are doing well)
Debt is reducing.
another huge positive is value of its ownership of 921000 shares of hero moto has increased to 281 crores (hero price of rs 3059.3). from 221 crores in june .two wheeler companies seem to be doing better.
Stock has been showing some strength in the past 10 days and heightened volumes as well.
current market cap is 110 crores . Let us see if the huge discount to its intrinsic value(around 350 - 400 crore mcap according to me ) reduces in the coming months.
Disclaimer : This is not investment advice and should in now way be construed as one .I am invested in majestic auto .I am not a registered sebi investment advisor. Please do your due diligence before investing.