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Strategies & Market Trends : India Coffee House

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To: Mohan Marette who wrote (5408)	8/1/1999 1:12:00 PM
From: Mohan Marette	of 12475

Nirma sales up by 34% yoy; net profit zooms by 70% yoy in Q1 FY2000 Date: 7/31/99 11:27:06 AM (Quantum Research) nirmaindia.com Nirma's sales grew by 33.5% yoy to Rs4.2bn in Q1 FY2000. Operating profit rose by 37.5% to Rs710mn. A sharp 51% decline in interest cost saw net profit zooming to Rs512mn compared to Rs301mn in the corresponding previous quarter. Operating margins, excluding other income has improved from 14.5% in Q1 FY99 to 15.3% in Q1 FY2000. The share price closed at Rs408 on Friday. Valuation is extremely low at 7x current quarter earnings per share of Rs60.

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