For the half-year ended September 2011, the company's consolidated net sales stood at Rs 71.71 crore, while net profit stood at Rs 9.62 crore. OPM was at 22.2%. For the year ended March 2011, consolidated net sales stood at Rs 105.09 crore, while net profit stood at Rs 8.11 crore. OPM was at 17.8%
The revenues of the company are lower in the fourth quarter as compared to the other three quarters as most examinations for IXth, Xth, XIth and XIIth standards are conducted in the months of February and March, thereby leading to a decrease in the number of classes as part of coaching services during this period. Hence, one cannot annualize company's first half earnings.
At the lower price band of Rs 74 per equity share of Rs 10 face value, the P/E works out to 36.4 times the EPS of Rs 2 (on post-IPO equity) for the year ended March 2011. At the upper band of Rs 80, P/E works out to 39 times the annualized EPS of Rs 2.1 (on post-IPO equity) for the year ended March 2011. Nearest comparable listed player, Career Point, trades at P/E of around 12 times FY 2011 earnings.
THIS ISSUE IS GOING TO SURPRISE THE INVESTORS EVEN THOUGH IT IS FULLLY PRICED IT IS THE BEST INSTITUTE IN MUMBAI FOR SSC AND FY AND TY COMMERCE COURES THOSE PARENTS WHO HAVE ADMITTED THEIR CHILDREN IN THIS INSTITUTE SHOULD APPLY