business.outlookindia.com _ fastest 40

HOME Interviews Columns Web Exclusives Life Reports & Surveys

Tweet 3 2COMMENTS PRINT

ALSO IN THIS STORY

Feature / Cover Stories MAGAZINE | MAY 26, 2012

THE LIST

Fastest 40OUTLOOK BUSINESS

1. IRB Infra Developers

The company holds concessions on 11% of the Golden Quadrilateral network of highways, onwhich plies some of the densest traffic in the country. Admirably, IRBs careful selection ofprojects ensured that it could grow without overloading its books with debt. Now that ischanging. If less competition helped the company bag lucrative projects, the changedcompetitive scenario threatens to alter its profitability in future. Most players are biddingaggressively leaving very little money on the table. Going ahead, IRB needs to bid selectively tomaintain its return ratios.

Sales (FY12) 3,043.59

Net Profit (FY12) 504.87

Sales 5-Year CAGR 56.07

PAT 5-Year CAGR 76.14

ROCE 5-Year Avg 9.97

Net Sales 2,470.54

Net Profit 464.09

Total Debt 4,625.53

Cash Balance 1,199.96

Total Assets 7,147.69

Free Cash flow -1,198.07

Debt-equity ratio 1.90

Stock Price 171.60

M-cap 5,703.37

Being one of the earliest entrants in road projects, IRB enjoys high returns on projects

2. S Mobility

Low cost mobile handset makers have reaped the boom in the Indian market and this companyis no exception. The only hitch is that the excitement might have reached its climax. That is whythe management now plans to expand into Africa and other low cost countries aggressively. Ifthings go as per plan, then its facility at Baddi, Himachal Pradesh could soon be complementedby a new manufacturing facility at Tamil Nadu. That said for reasons unexplained, the companyhas extended the last financial year by three months to June 2012.

Sales (FY12) 2,229.60





Net Sales 943.06

Net Profit 78.13

Total Debt 0.00

Cash Balance 112.12

Total Assets 680.25

Free Cash flow 72.71


Stock Price 66.40

Elsewhere in Business

Penny PinchingN MAHALAKSHMIMAGAZINE | APR 13, 2013

The Power Of SupercomputingIndias fastest supercomputer Param Yuva IIMAGAZINE | APR 13, 2013

VoicesMAGAZINE | APR 13, 2013

The Big PictureViewing structural reforms on quarterly basis is a flawed approachSAURABH MUKHERJEAMAGAZINE | APR 13, 2013

Clear And Present DangerOver Rs 7 lakh crore infrastructure projects in a logjamMAGAZINE | APR 13, 2013

Foreign PostsMAGAZINE | APR 13, 2013

Knock On WoodRAVINA KOTHARIMAGAZINE | APR 13, 2013

ADVERTISEMENT

MOST VIEWED MOST COMMENTED

Investing Is About Figuring Out What Somebody Is Doing RightAnd Paying Less

Pay Up, But Dont Overpay

The Warren And Charlie Show

The Making Of A Legend

Confessions Of An Owner-Manager

The Intelligent Investor By Warren Buffett

The Market Has Taught Me To Ignore The Market Most Of TheTime

CEOs Need To Learn The Art Of Capital Allocation

Rationality Buffetts Secret Sauce

Business Lessons From Buffett

Like 0 Send

Magazine Subscribe Articles

business.outlookindia.com | Fastest 40 http://business.outlookindia.com/article.aspx?280935

1 of 22 10-06-2013 17:11

M-cap 1,580.89

3. Jubilant FoodWorks

Its currently the largest pizza chain in India with 411 stores across 93 cities. It commands 50%market share in the Indian pizza market and 65% in the home delivery segment. Predictably,the company has a roaring business as most of us are hooked to fast food, especially pizza.The company is aggressively expanding even in Tier 2 and 3 towns. Sales volumes aremoderating, but the company has been able to sustain margins so far. Analysts predict thathigh food inflation at a time of a growth slowdown could dent margins going forward.

Sales (FY12) 978.88





Net Sales 765.24

Net Profit 72.00

Total Debt 0.00

Cash Balance 8.88

Total Assets 191.69

Free Cash flow 4.02


Stock Price 1,183

M-cap 7,698.39

It is now rolling out Dunkin Donuts, another popular American takeaway chain

4. Zydus Wellness

This Cadila Healthcare subsidiary sells niche consumer products that include Sugar Free,add-on beverage Actilife, margarine brand Nutralite, and skincare brand EverYuth. Currently,Sugar Free has a 86% market-share in the segment, and contributes nearly 40% of its turnover.Competition is rising in this segment from foreign players, but meanwhile, promoter PankajPatel is focusing on expanding the portfolio in the nutraceuticals space. With consolidatedrevenues of $1 billion, the next target for the Cadila group is to reach $3 billion by FY15.

Sales (FY12) 232.95





Net Sales 336.37

Net Profit 59.48

Total Debt 0.00

Cash Balance 86.45

Total Assets 141.89



Stock Price 381.65

M-cap 1,491.19


2 of 22 10-06-2013 17:11

5. Core Education & Technologies

The company was in the news for reportedly walking away from a deal to buy computer trainingfirm Aptech. While the acquisition could have added heft to its already substantial presence invocational training, it has in no way affected its expansion plans. While its new chain of 150 skilltraining institutes will entail an investment of Rs 225 crore, it is targeting revenue of Rs 600crore in about five years from the venture.

Sales (FY12) 1,541.29





Net Sales 1,091.23

Net Profit 225.01

Total Debt 839.51

Cash Balance 189.68




Stock Price 280.75

M-cap 3,158.17

Its global presence has delivered robust growth and it now plans to do the same in India

6. J Kumar Infraprojects

You cannot miss the company if you have travelled on Mumbai roads. For this contractor,flyovers and roads bring in 70% of revenues. At the end of December 2011, this EPC(engineering, procurement and construction) company had an order book of Rs 2,500 crore. JKumar is already involved in the civil works contract (26% of revenues), for the Navi Mumbaimetro project and looking at similar projects in other cities. With roads becoming a highlycompetitive business, contractors are seeing margins crack. Like most others in the business,thats the big challenge for J Kumar Infraprojects too.

Sales (FY12) 828.19





Net Sales 949.19

Net Profit 73.92

Total Debt 167.40

Cash Balance 46.83

Total Assets 545.60



Stock Price 169.00


3 of 22 10-06-2013 17:11

M-cap 469.84

Along with Amar Mahal Flyover, it has constructed many road projects in Mumbai

7. Opto Circuits

In the past five years, the company has significantly grown its revenues and profits many timesover through a slew of acquisitions. Recovery in hospital capex in the US (contributes over 60%of revenues) and rising insurance penetration will drive demand for its medical equipmentbusiness (contributes almost 80% of revenues). Ramp up at its new facilities and increasingpresence in emerging markets is likely to keep growth rates at 15- 20% over the next 2-3 years.

Sales (FY12) 2,258.87





Net Sales 1,585.56

Net Profit 368.55

Total Debt 884.39

Cash Balance 234.18




Stock Price 185.75

M-cap 4,501.08

8. Torrent Power

It is probably the only company that has understood how the make the best of electricity laws:build your own customer base, set up your own power stations and using open access, connectthe two. When companies were rushing to set up power stations, Torrent quietly entered thedistribution business. It not only has large generating capacities but now a seasoned powerdistributor.

Sales (FY12) 7,522.16

Net Profit (FY12) 1,155.55




Net Sales 6,525.66

Net Profit 1,055.65

Total Debt 4,021.99

Cash Balance 954.98


Free Cash flow -274.28


Stock Price 203.25

M-cap 9,602.51

It has generating capacity of 1600 MW and distributes electricity to 3 million consumers


4 of 22 10-06-2013 17:11

9. Nitin Fire Protection

The company counts companies like Reliance Industries, Bharti Airtel, Maruti, and L&T amongits clients. Fire safety provision has been made a mandatory licensing condition for newmedical institutes, after the fire in AMRI Hospital in Kolkata. This is expected to usher in newbusiness. In February this year, the company had an order book of Rs 175 crore, with orders inthe domestic markets accounting for Rs 135 crore.

Sales (FY12) 546.85





Net Sales 440.41

Net Profit 58.01

Total Debt 145.58

Cash Balance 11.98

Total Assets 377.71



Stock Price 50.75

M-cap 1,119.30

It owns 11% in an oil exploration JV in Rajasthan with GAIL, GSPC, HPCL & BPCL

10. Eros International

Have you watched Vicky Donor? Housefull 2? This is the company that distributed both thesefilms. Eros has a presence in both film production and distribution (which is highly riskybecause of low success rates and high cost of acquisition of films). Eros has de-risked itsbusiness model by habitually pre-selling distribution rights. Its other big business is its library ofover 1,900 films, which lends it a steady income stream, as it can sign exclusive deals withtelevision networks. It also spent $53 million to increase its stake in B4U to 100% from the 34%it held earlier.

Sales (FY12) 982.71





Net Sales 706.97


5 of 22 10-06-2013 17:11

Net Profit 118.21

Total Debt 198.63

Cash Balance 150.77

Total Assets 874.25



Stock Price 185.70

M-cap 1,704.33

It plans to capitalise on B4Us reach in over 100 countries via its two channels

11. Educomp Solutions

The multimedia education provider has a diversified presence across pre-school, K-12 onlineand vocational training. However, it faces debt issues and will need to raise money to pay offthe $78 million FCCB due this July. Besides, revenues from its online, supplementary andglobal businesses have been growing consistently, segment-level breakeven is expected onlyin FY14.

Sales (FY12) 1,303.55





Net Sales 1,350.90

Net Profit 340.53

Total Debt 1,437.34

Cash Balance 448.89




Stock Price 193.75

M-cap 1,863.08

12. TTK Prestige

It has a dominant presence in the pressure cooker and non-stick cookware categories where itcommands a market share of around 40-44% with its brand Prestige. Though the companyhas a pan-India presence, the south is its biggest market and accounts for 67% of revenues.The company is doubling its pressure cooker manufacturing capacity to 9.6 million units andquadrupling its non-stick cookware capacity to 8 million units.

Sales (FY12) 1,161.27






6 of 22 10-06-2013 17:11

Net Sales 763.56

Net Profit 83.75

Total Debt 2.25

Cash Balance 53.54

Total Assets 193.73



Stock Price 3,478.60

M-cap 3,938.15

Increasing urbanisation and rising rural income are key growth triggers for the company

13. Coromandel International

The company manufactures a wide range of fertilisers and is the second largest phosphaticfertiliser player in India. To grow its non-subsidy business, Coromandel International picked upthe 42% promoter stake in Sabero Organics which is into crop protection for Rs 283 crore. Themanagement is confident of turning around the loss-making acquisition and could end upspending close to another Rs 150 crore for the open offer to public shareholders. For now, highinventory levels at the suppliers end could keep volume growth subdued during the first half ofFY13.

Sales (FY12) 9,402.20





Net Sales 7,527.95

Net Profit 693.66

Total Debt 1,663.83

Cash Balance 960.54




Stock Price 256.45

M-cap 7,246.50

The company is rumoured to be in talks to acquire Vijay Mallyas MCF

14. Page Industries

Whats driving growth for this company is a fetish towards branded clothing. Pages strategy ofpricing its products in the mid-to-premium range has helped it gain substantial market-share inquick time. Jockey commands over 21% of mens innerwear market and 12% of womens. Ithas a strong distribution network it sells through 20,000 retail outlets apart from 70 exclusivestores that have been set up with the chief objective of showcasing a premium image. Page isadding capacities from an installed capacity of 87 million units to 137 million units over the nextcouple of years.

Sales (FY12) 705.50




7 of 22 10-06-2013 17:11



Net Sales 503.11

Net Profit 58.55

Total Debt 115.02

Cash Balance 2.58

Total Assets 238.80



Stock Price 3,119.80

M-cap 3,479.79

It has become the licencee for swimwear brand Speedo and this will add to its revenue

15. Delta Corp

This company is the new favourite of punters both on and off the bourses. The entry ofbillionaire investors Rakesh Jhunjhunwala and Radhakishan Damani (who has since pared hisstake) infused new life into a company previously known as Arrow Webtex. Not that thebusiness model does not make sense in a nation with a proclivity towards the path of leastresistance. With partners like Reliance Industries, Indias only listed casino gaming companywill continue to be the cynosure of many eyes. The sales and profit growth so far has been on alow base and now the market awaits the high rollers to do their part.

Sales (FY12) 382.65





Net Sales 376.01

Net Profit 165.62

Total Debt 201.66

Cash Balance 64.42

Total Assets 879.63



Stock Price 60.95

M-cap 1,364.78

16. EClerx Services

The countrys only listed pure-play BPO service provider differentiates itself by being a nicheplayer in the KPO space that caters to capital markets operations of global banks through data


8 of 22 10-06-2013 17:11

analytics, operations management and audit reconciliation. The company inks multi-yearannuity contracts with its clients to ensure a more stable revenue stream. With KPO industrytipped to grow at around 24% in the next couple of years, it should be able to outperform theindustry. Strong operating margins, superior return ratios and cash flows also works in thecompanys favour as do investors like Sequoia Capital.

Sales (FY12) 460.43





Net Sales 341.91

Net Profit 118.56

Total Debt 0.00

Cash Balance 149.27

Total Assets 233.89



Stock Price 735.75

M-cap 2,139.21

The company recently completed the acquisition of US-based Agilyst in an all cash deal

17. Godrej Consumer Products

Its 3x3 strategy of focusing on Asia, Latam and Africa within its three core categories hassignificantly transformed the company with six international acquisitions over the past twoyears. International sales in FY11 accounted for 34% of consolidated revenues against 19% inFY10, thanks to its strategy of acquiring strong local brands in its core businesses. However,given the saturation in the soaps segment a lot will depend on how the company effectivelyharnesses its international acquisitions.

Sales (FY12) 4,703.87





Net Sales 3,646.08

Net Profit 481.60

Total Debt 2,005.42

Cash Balance 226.91


Free Cash flow -1,510.38


Stock Price 539.75

M-cap 18,367.56

18. Jindal Steel & Power

The Naveen Jindal flagship operates in the steel (3 mtpa capacity) and power (2,200 mw)segments. While a free cash flow of Rs 4,000 crore ensures minimal funding strain, thepresence of captive 180 million tonne of domestic iron ore and around 2.56 billion tonne of


9 of 22 10-06-2013 17:11

domestic thermal coal ensures raw material availability. Though environmental issues had casta cloud on its domestic expansion, the company has overcome the hurdles. However, its $2.1billion Bolivian deal, entailing 1.7 mtpa steel plant, a 6-mtpa sponge iron and a 10-mtpa iron orepellet plant, is hanging fire over non-availability of gas supply.

Sales (FY12) 16,935.04





Net Sales 13,111.60

Net Profit 3,804.01

Total Debt 13,976.59

Cash Balance 480.21


Free Cash flow 6,283.93


Stock Price 502.70

M-cap 46,994.10

It has plans for a Rs 2 lakh crore capex to hike steel and power capacity by FY16

19. Adani Ports

The Mundra port is being spoken of as a gateway to at least three continents Europe, USand Africa and the Middle East. The Adani group is banking on infrastructure like a deepdraft and a large tract of land along the port to bring in more business. It is expected that thatthe total traffic that Indian ports will handle in 2020 will be up three-fold from 870 million tonnein FY11. The only uncertainty has been about obtaining security clearances, which is a causefor concern. That resolved, it should be business as usual at Indias largest multi-productspecial economic zone spread over 135 sq km.

Sales (FY12) 2,345.61





Net Sales 2,000.11

Net Profit 916.17

Total Debt 4,204.61

Cash Balance 251.50




Stock Price 127.45

M-cap 25,533.26

20. Titan Industries

This company really stands out for building exceptionally strong consumer brands. Apart fromwatches, Titan has done remarkably well with its jewellery business which now contributesnearly 80% to the topline and much of its pre-tax margin of 10%. Although it still hastremendous growth potential, there are doubts in the near-term because of high gold prices andweak rupee. If gold prices crash, its turnover could shrink, but the fall will be off-set by strongersales.

Sales (FY12) 8,742.60


10 of 22 10-06-2013 17:11





Net Sales 6,532.97

Net Profit 433.14

Total Debt 68.02





Stock Price 232.95

M-cap 20,680.98

While its stock has been a traditional darling, of late it has been on the slow track

21. Bombay Rayon Fashions

While having the worlds largest fabric processing capacity helps deliver scale, it is hardlyinsurance when demand in your main markets get affected. When you add input cost pressure,you dont get up with a pretty picture. Having debt that is equivalent to your market cap alsodoes not help. The worlds largest producer of shirts has used debt to pull in growth but nowinterest expenses are eating into profitability. As a result net profit growth in FY12 has not keptpace with sales growth and that does not look like changing in FY13. Promoters though areshoring up their holding through market purchases.

Sales (FY12) 2,585.12





Net Sales 2,690.90

Net Profit 203.42

Total Debt 3,138.15

Cash Balance 51.55




Stock Price 254.70

M-cap 3,428.26

22. Cox & Kings

A leading global tour operator, it will benefit from the growing travel and tourism market in India tipped to grow at more than 10% between 2010-20 on rising income levels and changingdemographics. Its 2011 acquisition of UK-based tour operator Holidaybreak (HBR) gives it asignificant presence in the European market as well. While higher debts levels as a result of theHBR acquisition and increased dependence on the slower growing European market remains aconcern with investors, strong growth in the domestic market improved cash flows andincreasing synergies with HBR should see the company post an earnings growth of around


11 of 22 10-06-2013 17:11

20% in the next two years.

Sales (FY12) 771.16





Net Sales 496.74

Net Profit 130.47

Total Debt 844.33

Cash Balance 961.28




Stock Price 150.40

M-cap 2,053.38

23. Lovable Lingerie

This is one of Indias hottest innerwear manufacturers with a strong bouquet of brands thatcaters to the premium segment. Womens innerwear market is tipped to expand from Rs 8,500crore currently to Rs 30,000 crore in 2020 making it the fastest growing segment in the apparelindustry. Apart from a growing market, its debt-free balance sheet also cuts a good figure.Lovables revenues and earnings are expected to grow at 24% and 28% for the next two yearshelped by the launch of new products, expansion of distribution network and entry into newmarkets.

Sales (FY12) 156.92





Net Sales 104.04

Net Profit 14.12

Total Debt 0.00

Cash Balance 14.33

Total Assets 141.23



Stock Price 368.55

M-cap 619.16

Investors and speculators salivated all over its stock during and after its IPO. Some still do

24. Engineers India

The PSU has two major revenue streams: consultancy & engineering and lumpsum turnkey(LSTK) projects. Though the company has grown well, the outlook for the future lookschallenging. The downturn in the investment cycle has seen its order-book fall to a 15-quarterlow of Rs 5,700 crore. Of the order-book, the share of high margin consultancy is just 41%,while the low margin LSTK has the major share of 59%. With an order flow in FY12 of Rs 700crore, the company is now looking at international markets and is banking on the new fertiliserpolicy.

Sales (FY12) 3,298.02




12 of 22 10-06-2013 17:11



Net Sales 2,677.54

Net Profit 531.29

Total Debt 0.00





Stock Price 251.95

M-cap 8,489.12

Due to consistent free cash generation, it cash and cash equivalents equal Rs 62 per share

25. BGR Energy Systems

It provides balance of plant services to power projects apart from manufacturing powerequipment through a JV with Japans Hitachi. After registering a 38% decline in revenues lastquarter, largely because of slower execution of construction projects, the company revised itsrevenue guidance for FY12 sharply down to Rs 3,400 crore from Rs 4,800 crore. Its order bookstood at Rs 8,200 crore in December 2011, but after that the company bagged an order worthRs 3,000 crore from NTPC for steam turbines-generators. Yet, the scrapping of orders worth Rs12,000 crore by Rajasthan Vidyut Nigam where BGR had emerged the lowest bidder has beena dampener as the revised bidding could be more aggressive.

Sales (FY12) 3,072.12





Net Sales 4,749.82

Net Profit 323.04

Total Debt 1,337.33





Stock Price 328.90

M-cap 2,373.39

Rising competition in the BTG (boiler-turbine-generator) segment is a cause for concern

26. Polyplex Corporation

The worlds fourth largest producer of thin polyester film did see encouraging volume growthlast year and some of that spilled into Q1FY12. But given that bulk of its revenue comes fromthe overseas market, it too has to now deal with a demand slowdown as well as high crudeprices. The one-time gain made by the company in FY11 due to a partial divestment in itsThailand subsidiary did play a role in the companys profit growth rocketing out of the charts. Tosustain its growth, the management is increasing focus on value added products and ICICIPrudential Mutual Fund with a holding of close to 6% certainly seems to be among the


13 of 22 10-06-2013 17:11

believers.

Sales (FY12) 2,443.24





Net Sales 2,433.32

Net Profit 1,336.54

Total Debt 728.33

Cash Balance 860.78




Stock Price 178.05

M-cap 569.49

27. Gujarat State Petronet

This state government promoted entity has 1,573 km of gas pipeline in operation in the Hazira-Vadodara-Ahmedabad-Kalol-Himmatnagar-Mehsana-Rajkot-Morbi-Anjar-Jamnagar corridor,which transports over 35 million metric standard cubic metres per day (mmscmd) of gas. Lastquarter, GSPLs profit decreased mainly on account of lower gas transmission, lower revenuefrom sale of electricity, although its was partly offset by higher gas transmission tariffs. Whileavailability of gas puts a question mark of growth for the company, another key risk is cappingof margins by PNGRB at 18% pre-tax ROCE, compared to the 27% earned by the companybased on tariffs in Q3FY12.

Sales (FY12) 1,118.64





Net Sales 1,039.10

Net Profit 506.38

Total Debt 1,483.49

Cash Balance 239.01




Stock Price 65.95

M-cap 3,710.93

28. Prime Focus

The Mumbai-based visual entertainment services company offers visual effects (VFX), 3D andpost-production services. Over the past three years, of the top 30 worldwide box office hitsmore than 85% were VFX extravaganzas. And with filmmakers increasingly opting for 3D andvisual effects to ensure box office success, Prime Focus could get steady business given itstrack record. It already has some big movies to its credit like Tree of Life, X-Men, Harry Potter


14 of 22 10-06-2013 17:11

and the Deathly Hallows and the Transformers series. Though there are other players in thebusiness, Prime has two proprietary technologies, View D and CLEAR, which gives it an edgeover competitors.

Sales (FY12) 777.04





Net Sales 502.96

Net Profit 88.19

Total Debt 461.33

Cash Balance 29.92

Total Assets 867.45



Stock Price 48.40

M-cap 720.52

29. Ind-Swift Laboratories

For this Chandigarh-based manufacturer of bulk drugs, exports constitute almost 40% ofrevenues with the domestic market making up the rest. The company plans to increase itsproducts profile from 40 to 80 with a focus on products that are going off patent between FY12and FY20. Almost $78 billion worth of drugs are going off patent between FY10 and FY14 andlikely to result in a windfall for generic players like Ind-Swift. The company hopes to achieve aturnover of $500 million by 2015, driven by presence in the developed markets and increasingproduct approvals.

Sales (FY12) 1,305.41





Net Sales 1,035.06

Net Profit 89.46

Total Debt 819.19

Cash Balance 54.10




Stock Price 89.65

M-cap 354.66

It recently received USFDA approval for five APIs at its Derabassi plant in Punjab


15 of 22 10-06-2013 17:11

30 Geodesic

The company develops products for smart phones, tablets and computers. The first product itdeveloped was an instant messenger called Mundu that could run across multiple platforms. Itsproduct Mundu TV allows users to watch television on desktops or mobiles and is the onlyIndian application to be rated #1 in the Apple app store. They have also developed a deviceused for last mile authentication, validation and data processing in e-governance projects. Newproduct development is expected to help Geodesic sustain its revenue and earnings growth.

Sales (FY12) 970.57





Net Sales 873.04

Net Profit 273.65

Total Debt 615.10





Stock Price 45.75

M-cap 412.40

It not only owns Chandamama but also has a bookshelf on the app store

31. Gitanjali Gems

A leading player in the branded jewellery space, it recently restructured its business into threefocused verticals: diamond and jewellery manufacturing; India-branded jewellery and retailing,and international-branded jewellery and retailing. Gitanjali, which owns eight of the top 10jewellery brands such as Nakshatra, Gili, Asmi, Sangini, DDamas, has converted its bouquet ofproduct brands into retail chains with a footprint of 1.7 million sq ft. It is also in the process ofconsolidating its international operations in 12 countries, under the holding company AstonLuxury in Hong Kong. The company is looking at expansion in tier 3 and tier 4 towns.


16 of 22 10-06-2013 17:11

Sales (FY12) 12,385.66





Net Sales 9,456.40

Net Profit 356.57

Total Debt 3,047.34

Cash Balance 439.32




Stock Price 325.45

M-cap 2,965.57

It is India's first jeweller to have a vending machine at Mumbai's Siddhi Vinayak temple

32. S Kumars Nationwide

It is a leading textiles and apparel company with brands such as Reid & Taylor, Belmonte, SKumars, Carmichael House and Stephen Brothers. Besides, it also holds the menswear licenceworldwide for leading global brand DKNY. Building on its stranglehold in the school uniformmarket, the company is now looking to rapidly expand its franchise/distribution network in Indiathrough exclusive brand outlets. While revenues have grown steadily, the proposed initial publicoffering of Reid & Taylor will be a key trigger given that management has run up a huge debtpile. However, given the current market environment, raising the targeted Rs 1,000 crore frominstitutional and retail investors is a challenge.

Sales (FY12) 6,185.40





Net Sales 5,180.55

Net Profit 392.49

Total Debt 3,414.44

Cash Balance 109.63




Stock Price 31.30

M-cap 930.87

It holds a 75% stake in Reid & Taylor while the rest belongs to a Singapore sovereign fund

33. Amara Raja Batteries

The second largest battery manufacturer in India benefits from astrong presence in the aftermarket segment as it helps thecompany overcome any sluggishness in demand from originalequipment manufacturers (OEM) like a Maruti or Tata Motors.Replacement demand in automobiles, capacity expansion andbooming demand from uninterrupted power supply (UPS)makers is likely to keep volume growth robust with revenues andprofits growing over 20% in the next two years. A strong balancesheet with superior return ratios also works to its advantage.

Sales (FY12) 2,260.99



17 of 22 10-06-2013 17:11




Net Sales 1,759.18

Net Profit 148.10

Total Debt 95.05

Cash Balance 40.21

Total Assets 740.97



Stock Price 294.60

M-cap 2,516.07

The falling price of lead could be offset by the depreciation in the rupee

34. JBF Industries

The management seems unfazed by a shaky demand scenario and is pressing ahead with itsplans to become an integrated polyester player. Apart from moving to yarn and film makingfrom polyester chips, the company is also adding to its existing purified terephthalic acid (PTA)capacity. Due to oversupply, not only did capacity utilisation fall in Q3FY12 compared to theprevious quarter, but also its ambitious expansion will add to its existing debt and could renderthe company vulnerable if demand does not pick up adequately.

Sales (FY12) 6,995.47





Net Sales 6,465.57

Net Profit 546.11

Total Debt 1,783.62

Cash Balance 235.04




Stock Price 113.00

M-cap 813.82

It will spend $600 million for its 1.12 metric tonne per annum PTA plant in Mangalore


18 of 22 10-06-2013 17:11

35. Petronet LNG

The countrys biggest liquefied natural gas (LNG) importer has its hands full as domestic outputat Reliances gas fields falter. That is why besides its existing 10 million tonne import terminal atDahej, it is adding another 10 million tonne capacity through terminals at Kochi in Kerala and atGangavaram in Andhra Pradesh. While global LNG prices are on the rise, Petronet could wellbe allowed to pass on a cost increase to user industries like fertilisers, power andpetrochemicals. That failing to happen, the company will end up as another subsidy channeland strain the balance sheet of its promoting companies that include Gail, ONGC and Gaz deFrance among others.

Sales (FY12) 21,503.84





Net Sales 13,197.29

Net Profit 619.62

Total Debt 3,216.14

Cash Balance 154.02




Stock Price 138.45

M-cap 10,383.75

36. Rajesh Exports

As its name suggests, the Bangalore-based company earns 95% of its revenue from overseas.It now wants to alter its revenue profile and is therefore eyeing 50% of revenues from its retailchain of Shubh Jewellers in the next three years. Currently concentrated in Karnataka with 75stores, the company plans to open 400 stores across South India at an investment of over Rs6,000 crore. The company hopes to corner a 20% share of the retail market by banking on itsstrategy of not passing on making charges to customers. But given that the company had failedto make any headway with its earlier retail chain called Oyzterbay, the shine will take sometimecoming.

Sales (FY12) 22,678.41





Net Sales 20,533.76

Net Profit 247.99

Total Debt 2,530.40


19 of 22 10-06-2013 17:11





Stock Price 143.40

M-cap 4,234.03

On revenues of more than Rs 20,000 crore in FY11, its net margin was less than 2%

37. Swaraj Engines

This state-owned unit changed hands when the Mahindra & Mahindra group bought it fromPunjab Tractors. It is now expanding annual capacity to 75,000 engines at its Mohali plant.Traditionally a favorite with investors due to its high dividend payouts, most of its production isconsumed in-house. Healthy internal accruals have meant zero debt and this will stand thecompany in good stead, if at all, there is a fall in the demand for new tractors.

Sales (FY12) 437.40





Net Sales 360.63

Net Profit 43.91

Total Debt 0.00

Cash Balance 76.20

Total Assets 152.22



Stock Price 416.10

M-cap 516.79

38. Tulip Telecom

The company offers everything on data connectivity from network integration and from datacentres to security and application management. It has the third largest data centre in the worldand the largest in Asia. In an emerging economy like India, the growing penetration of internetand telecom will drive demand for data connectivity and the data centre market ($671 million) inIndia is growing at an average of 36%. The company has an order book of Rs 600 crore spreadover five years and timely equity infusion for its data centre and refinancing of its FCCB willinfluence performance going forward.

Sales (FY12) 2,724.56





Net Sales 2,351.05

Net Profit 306.41

Total Debt 1,776.86

Cash Balance 250.37




20 of 22 10-06-2013 17:11


Stock Price 93.00

M-cap 1,348.50

It is looking to sell its 13% holding in Qualcomms India broadband wireless unit

39. Sun Pharma

The company has an impeccable track record driven by its strong domestic business which hasgrown by an average 21% between FY07 and FY11 and contributes over 40% to totalrevenues. It also has one of the strongest generics pipeline of about 150 products pendingapproval. Majority control over Taro, strong cash position (over Rs 2,000 crore currently onbalance sheet), new product launches both in the US and domestic market is likely to keepgrowth momentum going. Patent infringement suit filed by Wyeth for $960 million does casts ashadow, but not a long one.

Sales (FY12) 7,567.27





Net Sales 5,721.43

Net Profit 1,907.37

Total Debt 425.58





Stock Price 602.35

M-cap 62,378.28

40. Lupin

Strong presence in the domestic and Japanese market through two acquisitions and asignificant market share in the branded US generics market, especially in the oralcontraceptives segment, have put Lupin in a position of strength. It has one of the biggestAbbreviated New Drug Application (ANDA) pipeline among its peers. Strong growth in theJapanese and domestic market is likely to result in an average earnings growth of 24% in thenext two years.

Sales (FY12) 6,768.72





Net Sales 5,832.02

Net Profit 879.39

Total Debt 1,162.41

Cash Balance 420.12




Stock Price 551.80

M-cap 24,653.03

It ranks 5th by prescription sales in the US, the worlds biggest pharmaceutical market

Note: All financial numbers are in Rs crore and for FY11 except where indicated. CAGR growth& RoCE are in %, debt/equity ratio is X (times). Annualised numbers have been used tomaintain uniformity, as not all March-ending companies had declared their FY12 results at thetime of compilation. Companies marked with have recorded RoCE in excess of 15% every yearfor the past five years. Stock price in Rs per share and market cap in Rs crore as on April 30,


21 of 22 10-06-2013 17:11

Tweet 3 2COMMENTS PRINT

2012

Source: Ace Equity

ALSO IN THIS STORY COVER STORY

Indias Fastest Growing CompaniesCheck out our list of India's fastest growing companiesOUTLOOK BUSINESS

ZYDUS WELLNESS

Not All Is WellWell-positioned niche products that led to robust growth have now started to lose steamKRISHNA GOPALAN

CORE EDUCATION

Act LocalWill Core Education & Technologies be able to replicate its American success in India?TANEESHA KULSHRESTHA

OPTO CIRCUITS

Saving LivesOpto Circuits is the fastest growing Indian medical equipment company but the best part is,

theres lots more room for growthKRIPA MAHALINGAM

ENGINEERS INDIA

Crude ConnectionThe company has built a robust business catering to the hydrocarbon sector, now its looking

beyondKANDULA SUBRAMANIAM

FILED IN:AUTHORS: OUTLOOK BUSINESSSECTION: FEATURESUBSECTION: COVER STORIES

Post a CommentYou are not logged in, please log in or register

Comments Policy

ABOUT US | CONTACT US | SUBSCRIBE | ADVERTISING RATES | COPYRIGHT & DISCLAIMER | COMMENTS POLICY

Like 0 Send

Top 10 Mutual FundsInvest in the Top Mutual Funds. Select from HDFC,SBI, Reliance etc

FundsIndia.com/TopFunds


22 of 22 10-06-2013 17:11

business.outlookindia.com _ fastest 40

Documents

net sales

year cagr

sales fy12

net profit fy12

total debt

year avg

financial year

indian market