Hester Biosciences manufactures animal vaccines and health products. It reported a 5.44% increase in net profit to Rs. 41.28 million for Q4 FY15 compared to the same period last year, while revenue rose 6.93% to Rs. 233.61 million. EBITDA declined 29.13% to Rs. 73.20 million for the quarter. For the full year, net sales increased 30% to Rs. 900.37 million and net profit grew 45% to Rs. 145.82 million. The company's stock is currently trading at a P/E of 36.43x for FY16E estimates, with expected EPS growth of 14-15% through FY
Buy Abbott India; Pharma sector to grow at CAGR of 20% over next 5 yearsIndiaNotes.com
Abbott India Ltd is an Indian pharmaceutical company and part of Abbott's global business. The document recommends buying Abbott India shares with a target price of Rs. 4305. It summarizes Abbott's Q4 FY15 results which showed a 21.66% rise in net sales and 29.58% rise in net profit. Net sales and PAT are estimated to grow at a CAGR of 13% and 16% over the next three years respectively. The summary recommends buying Abbott shares for medium to long term investment based on valuation ratios.
Astec Lifesciences: Q4FY15 net sales up 97.15% y/y; Firstcall recommend 'Buy'IndiaNotes.com
This document provides an analysis of Astec LifeSciences Ltd, an Indian manufacturer of agrochemical active ingredients. It includes a summary of the company's Q4 FY15 financial results, showing increases in net sales, profit, and EPS compared to the prior year. The document also provides estimates of the company's financials from FY15-FY17, with projected growth in net sales and profit. It gives an overview of the company's products and facilities. Finally, it analyzes the company's stock, finding it currently trades at reasonable multiples compared to estimates for FY16-FY17.
Bayer CropScience: Recommends a dividend of Rs 5.50 for FY14, buyIndiaNotes.com
The document provides an analysis of Bayer CropScience Ltd, an agrochemical company. It includes the company's financial highlights for fiscal years 2014-2016 estimated. Key details include:
- Revenue for Q4 FY2014 increased 41.54% to Rs. 5527 crores compared to the prior year.
- Net profit for Q4 FY2014 declined 35.65% to Rs. 462 crores versus the previous year.
- The company recommended a dividend of Rs. 5.50 per share for FY2014.
- The analysis provides estimates that revenue will grow at a 13% CAGR from FY2013-FY2016 while operating profit grows 12% annually in the same
Apollo Tyres approves further expansion of the Truck & Bus radial tyre capacityIndiaNotes.com
Apollo Tyres reported a 12.4% decrease in net sales but a 27.5% increase in net profit for Q1 FY16 compared to Q1 FY15. EBITDA rose 15.4% and profit margins increased 319 and 447 basis points respectively. Apollo Tyres approved expanding its Chennai truck and bus radial tire capacity and raising Rs. 20,000 million in debt for ongoing expansions. Analyst estimates see Apollo Tyres' operating profit and PAT growing at a CAGR of 13% and 23% from FY14 to FY17 respectively.
Buy Abbott India; Pharma sector to grow at CAGR of 20% over next 5 yearsIndiaNotes.com
Abbott India Ltd is an Indian pharmaceutical company and part of Abbott's global business. The document recommends buying Abbott India shares with a target price of Rs. 4305. It summarizes Abbott's Q4 FY15 results which showed a 21.66% rise in net sales and 29.58% rise in net profit. Net sales and PAT are estimated to grow at a CAGR of 13% and 16% over the next three years respectively. The summary recommends buying Abbott shares for medium to long term investment based on valuation ratios.
Astec Lifesciences: Q4FY15 net sales up 97.15% y/y; Firstcall recommend 'Buy'IndiaNotes.com
This document provides an analysis of Astec LifeSciences Ltd, an Indian manufacturer of agrochemical active ingredients. It includes a summary of the company's Q4 FY15 financial results, showing increases in net sales, profit, and EPS compared to the prior year. The document also provides estimates of the company's financials from FY15-FY17, with projected growth in net sales and profit. It gives an overview of the company's products and facilities. Finally, it analyzes the company's stock, finding it currently trades at reasonable multiples compared to estimates for FY16-FY17.
Bayer CropScience: Recommends a dividend of Rs 5.50 for FY14, buyIndiaNotes.com
The document provides an analysis of Bayer CropScience Ltd, an agrochemical company. It includes the company's financial highlights for fiscal years 2014-2016 estimated. Key details include:
- Revenue for Q4 FY2014 increased 41.54% to Rs. 5527 crores compared to the prior year.
- Net profit for Q4 FY2014 declined 35.65% to Rs. 462 crores versus the previous year.
- The company recommended a dividend of Rs. 5.50 per share for FY2014.
- The analysis provides estimates that revenue will grow at a 13% CAGR from FY2013-FY2016 while operating profit grows 12% annually in the same
Apollo Tyres approves further expansion of the Truck & Bus radial tyre capacityIndiaNotes.com
Apollo Tyres reported a 12.4% decrease in net sales but a 27.5% increase in net profit for Q1 FY16 compared to Q1 FY15. EBITDA rose 15.4% and profit margins increased 319 and 447 basis points respectively. Apollo Tyres approved expanding its Chennai truck and bus radial tire capacity and raising Rs. 20,000 million in debt for ongoing expansions. Analyst estimates see Apollo Tyres' operating profit and PAT growing at a CAGR of 13% and 23% from FY14 to FY17 respectively.
Brooks Laboratories FY15: Net profits up 31% y/y; BuyIndiaNotes.com
The document provides a result update and analysis for Brooks Laboratories Ltd for the quarter ending March 2015. Some key points:
- Net profit increased 17.12% to Rs. 23.42 million compared to the prior year period. Revenue rose 24.94% to Rs. 235.14 million.
- Earnings per share increased 17.15% to Rs. 1.45. Profit before tax and depreciation was Rs. 24.09 million, nearly unchanged from the prior year.
- For the full fiscal year 2015, net profit increased 31% to Rs. 94.68 million on total income of Rs. 874.65 million, up 2.6% from the previous fiscal year.
Buy Bharat Rasayan, Indian agrochemical sector pegged at $7.5b by FY19IndiaNotes.com
This document provides an analysis of Bharat Rasayan Ltd, an Indian agrochemical company. It includes the company's stock information and target price. The document summarizes the company's quarterly financial results for Q4 FY15, noting increases in net sales, EBITDA, net profit, and EPS compared to the prior year. It also provides estimates for the company's financials from FY15-FY17, projecting continued growth in net sales, EBITDA, and net profit. The outlook and conclusion section states that the stock currently trades at a P/E of 13.12x for FY16E and 11.54x for FY17E, below the projected EPS for those
Coral Laboratories Q4FY15: Surplus scenario likely to continue for next three...IndiaNotes.com
Coral Laboratories Limited reported its financial results for the quarter ended March 31, 2015. Some key highlights include:
- Net sales increased 28.4% to Rs. 186.62 million compared to the same quarter last year.
- Net profit increased 41.18% to Rs. 26.26 million compared to the same quarter last year.
- EPS for the quarter increased 41.18% to Rs. 7.35 compared to Rs. 5.21 in the same quarter last year.
- EBITDA increased 82.3% to Rs. 49.64 million compared to the same quarter last year.
The report provides an analysis of the company's performance and financials. It recommends buying the
Dhanuka Agritech's FY15 net profit up 14%; BuyIndiaNotes.com
Dhanuka Agritech Ltd is an Indian agrochemical company. For the quarter ending March 2015:
- Revenue rose 0.15% to Rs. 1530.40 million from Rs. 1528.05 million in the prior year.
- Net profit was Rs. 219.44 million, down 2.31% from Rs. 224.64 million in the previous year.
- Earnings per share was Rs. 4.39, down 2.31% from Rs. 4.49 in the previous year.
The company is expected to grow net sales and profit at a CAGR of 11% and 19% from 2014-2017.
Sanofi India: Q2CY14 net rises 12.30%, maintain buyIndiaNotes.com
Sanofi's net profit jumps up by 12.30% and stands at Rs. 575.00 million against Rs. 512.00 million same period previous year. Revenue of the company registered a growth of 16.25%. Maintain buy for medium to long term investment.
Gillette India Limited reported its financial results for the quarter ended March 31, 2015. Net sales increased 8.48% year-over-year to Rs. 4,941.40 million driven by growth across all business segments. Net profit jumped 262.74% to Rs. 307.60 million compared to Rs. 84.80 million in the prior year period. For the nine months ended FY15, net sales grew 12.80% while net profit increased 146.11%. The brokerage recommends buying Gillette India given its strong brands and expected sales and profit growth of 15-16% over FY13-FY16.
Arrow Coated Products: Q4FY15 net profit up 161.19% y/y; 'Buy' says FirstcallIndiaNotes.com
The document provides an analysis of Arrow Coated Products Ltd for the quarter and fiscal year ending March 2015. Key highlights include net profit jumping 161% in Q4 FY15 compared to the same period last year. Sales increased 4% in Q4. EPS for the quarter was Rs. 0.97 compared to Rs. 0.37 last year. The company is expected to see 28% sales and 50% profit CAGR from 2014-2017. The document recommends buying the stock with a target price of Rs. 530.
Firstcall recommend PI Industries after Q4FY15 net profits rise 33.47% y/yIndiaNotes.com
PI Industries Ltd engages in agri-input and custom synthesis businesses. It reported financial results for Q4 FY15 with net sales growth of 48.05% YoY to Rs. 5,369.80 million and net profit growth of 33.47% YoY to Rs. 603.20 million. For FY16-FY17, the company estimates net sales to grow at a CAGR of 21% to Rs. 24,766.91 million in FY17 and net profit to grow at a CAGR of 32% to Rs. 2,910.31 million in FY17. At the current market price of Rs. 677.35, the stock trades at a
Firstcall solar industries_india_ltd_6_july15IndiaNotes.com
- Solar Industries India Ltd is one of India's largest manufacturers of industrial explosives and explosive initiating systems.
- In Q4 FY15, the company's net sales rose 14.61% year-over-year to Rs. 3896.36 million, while net profit grew 1.52% to Rs. 401.01 million.
- For the full year FY15, the company's net sales were Rs. 13518.95 million and net profit was Rs. 1474.08 million, up 24% from FY14. Net sales and profit are expected to continue growing over the next few years.
Cadila Healthcare: Sales jump 22% during Q4FY14, buy - Firstcall India EquityIndiaNotes.com
Cadila Healthcare has posted 22% jump in its sales from Rs16119.00 mn to Rs19685.00 mn in current March quarter. At CMP of Rs886.20 the stock P/E ratio is at 17.81 x FY15E and 15.95 x FY16E respectively. Maintain buy
Castrol India clocks Q1CY15 net profit of INR1,467m; Firstcall recommends 'Buy'IndiaNotes.com
Castrol India reported its financial results for the quarter ended March 31, 2015. Net sales were Rs. 7,992 million, down slightly from the prior year quarter. Net profit increased 46% to Rs. 1,467 million due to a 45% rise in profit before tax. EBITDA grew 45% to Rs. 2,342 million on higher other income. The company's EPS for the quarter was Rs. 2.97, up significantly from Rs. 1.01 in the same quarter of the previous year. Analysts expect net sales and PAT to grow at a CAGR of 6% and 8%, respectively, from 2013 to 2016.
This document provides an analysis of Rashtriya Chemicals and Fertilizers Ltd (RCF) stock. It summarizes RCF's Q4 FY15 financial results, including a 5.41% increase in net sales but a 56.54% decrease in net profit compared to the same quarter the previous year. The document estimates that RCF's net sales and profit will grow at a CAGR of 8% and 6% respectively from FY14 to FY17. Based on this analysis, the document recommends buying RCF stock, setting a target price of Rs. 67.
The document summarizes special situation picks from the previous week and provides commentary on market indices and stocks. It discusses two companies with buyback announcements - Agro Tech Foods and Avantel Ltd - and rates them as "Avoid" due to overvaluation and uncertain fundamentals respectively. It also lists other companies with upcoming special situations like divestments or dividends and provides the latest market and economic news headlines.
Good Luck Steel Tubes Q4FY15: Net profit up 158.31% y/y; BuyIndiaNotes.com
The document provides a stock analysis and recommendation for Good Luck Steel Tubes Ltd. Key points:
- The company reported a 158% increase in net profit and 9.5% increase in net sales for Q4 FY2015 compared to the same period last year.
- Earnings per share stood at Rs. 3.13 for Q4 FY2015, up from Rs. 1.34 in the previous year.
- Net sales and profit after tax are expected to grow at a CAGR of 7% and 13% from FY2014 to FY2017 respectively.
- The analyst recommends buying the stock with a target price of Rs. 105, citing improving performance, expanded international presence, and
Exide Ind: Net sales grows 17.51% to Rs19123.60 mn; Maintain buyIndiaNotes.com
Exide Industries' Net sales registered a growth of 17.51% to Rs.19123.60 million for the quarter ended June 30th 2014 as against Rs.15412.00 million for the corresponding quarter last year. Buy for a target of Rs.180.00.
Cadila Healthcare is an Indian pharmaceutical company headquartered in Ahmedabad, Gujarat. It has 11 plants located across India and is the fourth largest pharmaceutical company in India. While Cadila's revenue grew to INR 54.7 billion in 2015, its profitability ratios have declined in recent years based on an analysis of its 2016-2017 financial statements. Most of Cadila's key ratios related to liquidity, leverage, profitability and returns have decreased, suggesting the company has not been performing efficiently. As a result, based on its current financial condition, Cadila cannot be recommended as a good investment opportunity.
SKF India's net profit jumps to Rs512.40 mn during Q1CY15; BuyIndiaNotes.com
SKF India reported financial results for Q1 CY15. Net profit increased 4.36% to Rs. 512.40 million. Revenue rose 1.06% to Rs. 5856.30 million. EPS increased 4.36% to Rs. 9.72. EBITDA grew 6% to Rs. 935.60 million. The report recommends buying SKF India based on its financial outlook, with a target price of Rs. 1510 and expectations for sales and profit to grow at a CAGR of 8% and 13% through 2016.
International bodies like the IMF and WTO were established after World War 2 to promote international cooperation. The document discusses several key points about the IMF and WTO:
1. It outlines the structure and functions of the IMF, including its governance structure and role in providing loans to countries facing balance of payments crises.
2. It summarizes discussions at the WTO around agreements like the SPS agreement and issues related to food subsidies. The SPS agreement allows countries to impose food safety standards but they must be scientifically based.
3. It describes the outcomes of the 2013 Bali summit of the WTO which established the peace clause providing relief to India on food subsidies challenges and adopted the Trade Facilit
Thank God It’s Friday! This week: Super Bowl, Newcastle, Carl Jr, Adidas, Snickers, Lloyds Pharmacy, Mercedes, Volkswagen, MoneySuperMarket, Younker - Eden
Swine flu, also known as pig flu, is a respiratory disease caused by influenza viruses that normally infect pigs. There are different types of swine influenza viruses, with Type A being able to infect humans and cause significant disease. The 2009 H1N1 pandemic was a new hybrid virus that contained genetic elements from swine, avian, and human influenza viruses. Swine flu spreads between pigs and from infected humans to others through coughing or sneezing. While the risk of getting swine flu from eating pork is very low, preventive measures include vaccination, good hygiene, and isolating infected individuals.
Brooks Laboratories FY15: Net profits up 31% y/y; BuyIndiaNotes.com
The document provides a result update and analysis for Brooks Laboratories Ltd for the quarter ending March 2015. Some key points:
- Net profit increased 17.12% to Rs. 23.42 million compared to the prior year period. Revenue rose 24.94% to Rs. 235.14 million.
- Earnings per share increased 17.15% to Rs. 1.45. Profit before tax and depreciation was Rs. 24.09 million, nearly unchanged from the prior year.
- For the full fiscal year 2015, net profit increased 31% to Rs. 94.68 million on total income of Rs. 874.65 million, up 2.6% from the previous fiscal year.
Buy Bharat Rasayan, Indian agrochemical sector pegged at $7.5b by FY19IndiaNotes.com
This document provides an analysis of Bharat Rasayan Ltd, an Indian agrochemical company. It includes the company's stock information and target price. The document summarizes the company's quarterly financial results for Q4 FY15, noting increases in net sales, EBITDA, net profit, and EPS compared to the prior year. It also provides estimates for the company's financials from FY15-FY17, projecting continued growth in net sales, EBITDA, and net profit. The outlook and conclusion section states that the stock currently trades at a P/E of 13.12x for FY16E and 11.54x for FY17E, below the projected EPS for those
Coral Laboratories Q4FY15: Surplus scenario likely to continue for next three...IndiaNotes.com
Coral Laboratories Limited reported its financial results for the quarter ended March 31, 2015. Some key highlights include:
- Net sales increased 28.4% to Rs. 186.62 million compared to the same quarter last year.
- Net profit increased 41.18% to Rs. 26.26 million compared to the same quarter last year.
- EPS for the quarter increased 41.18% to Rs. 7.35 compared to Rs. 5.21 in the same quarter last year.
- EBITDA increased 82.3% to Rs. 49.64 million compared to the same quarter last year.
The report provides an analysis of the company's performance and financials. It recommends buying the
Dhanuka Agritech's FY15 net profit up 14%; BuyIndiaNotes.com
Dhanuka Agritech Ltd is an Indian agrochemical company. For the quarter ending March 2015:
- Revenue rose 0.15% to Rs. 1530.40 million from Rs. 1528.05 million in the prior year.
- Net profit was Rs. 219.44 million, down 2.31% from Rs. 224.64 million in the previous year.
- Earnings per share was Rs. 4.39, down 2.31% from Rs. 4.49 in the previous year.
The company is expected to grow net sales and profit at a CAGR of 11% and 19% from 2014-2017.
Sanofi India: Q2CY14 net rises 12.30%, maintain buyIndiaNotes.com
Sanofi's net profit jumps up by 12.30% and stands at Rs. 575.00 million against Rs. 512.00 million same period previous year. Revenue of the company registered a growth of 16.25%. Maintain buy for medium to long term investment.
Gillette India Limited reported its financial results for the quarter ended March 31, 2015. Net sales increased 8.48% year-over-year to Rs. 4,941.40 million driven by growth across all business segments. Net profit jumped 262.74% to Rs. 307.60 million compared to Rs. 84.80 million in the prior year period. For the nine months ended FY15, net sales grew 12.80% while net profit increased 146.11%. The brokerage recommends buying Gillette India given its strong brands and expected sales and profit growth of 15-16% over FY13-FY16.
Arrow Coated Products: Q4FY15 net profit up 161.19% y/y; 'Buy' says FirstcallIndiaNotes.com
The document provides an analysis of Arrow Coated Products Ltd for the quarter and fiscal year ending March 2015. Key highlights include net profit jumping 161% in Q4 FY15 compared to the same period last year. Sales increased 4% in Q4. EPS for the quarter was Rs. 0.97 compared to Rs. 0.37 last year. The company is expected to see 28% sales and 50% profit CAGR from 2014-2017. The document recommends buying the stock with a target price of Rs. 530.
Firstcall recommend PI Industries after Q4FY15 net profits rise 33.47% y/yIndiaNotes.com
PI Industries Ltd engages in agri-input and custom synthesis businesses. It reported financial results for Q4 FY15 with net sales growth of 48.05% YoY to Rs. 5,369.80 million and net profit growth of 33.47% YoY to Rs. 603.20 million. For FY16-FY17, the company estimates net sales to grow at a CAGR of 21% to Rs. 24,766.91 million in FY17 and net profit to grow at a CAGR of 32% to Rs. 2,910.31 million in FY17. At the current market price of Rs. 677.35, the stock trades at a
Firstcall solar industries_india_ltd_6_july15IndiaNotes.com
- Solar Industries India Ltd is one of India's largest manufacturers of industrial explosives and explosive initiating systems.
- In Q4 FY15, the company's net sales rose 14.61% year-over-year to Rs. 3896.36 million, while net profit grew 1.52% to Rs. 401.01 million.
- For the full year FY15, the company's net sales were Rs. 13518.95 million and net profit was Rs. 1474.08 million, up 24% from FY14. Net sales and profit are expected to continue growing over the next few years.
Cadila Healthcare: Sales jump 22% during Q4FY14, buy - Firstcall India EquityIndiaNotes.com
Cadila Healthcare has posted 22% jump in its sales from Rs16119.00 mn to Rs19685.00 mn in current March quarter. At CMP of Rs886.20 the stock P/E ratio is at 17.81 x FY15E and 15.95 x FY16E respectively. Maintain buy
Castrol India clocks Q1CY15 net profit of INR1,467m; Firstcall recommends 'Buy'IndiaNotes.com
Castrol India reported its financial results for the quarter ended March 31, 2015. Net sales were Rs. 7,992 million, down slightly from the prior year quarter. Net profit increased 46% to Rs. 1,467 million due to a 45% rise in profit before tax. EBITDA grew 45% to Rs. 2,342 million on higher other income. The company's EPS for the quarter was Rs. 2.97, up significantly from Rs. 1.01 in the same quarter of the previous year. Analysts expect net sales and PAT to grow at a CAGR of 6% and 8%, respectively, from 2013 to 2016.
This document provides an analysis of Rashtriya Chemicals and Fertilizers Ltd (RCF) stock. It summarizes RCF's Q4 FY15 financial results, including a 5.41% increase in net sales but a 56.54% decrease in net profit compared to the same quarter the previous year. The document estimates that RCF's net sales and profit will grow at a CAGR of 8% and 6% respectively from FY14 to FY17. Based on this analysis, the document recommends buying RCF stock, setting a target price of Rs. 67.
The document summarizes special situation picks from the previous week and provides commentary on market indices and stocks. It discusses two companies with buyback announcements - Agro Tech Foods and Avantel Ltd - and rates them as "Avoid" due to overvaluation and uncertain fundamentals respectively. It also lists other companies with upcoming special situations like divestments or dividends and provides the latest market and economic news headlines.
Good Luck Steel Tubes Q4FY15: Net profit up 158.31% y/y; BuyIndiaNotes.com
The document provides a stock analysis and recommendation for Good Luck Steel Tubes Ltd. Key points:
- The company reported a 158% increase in net profit and 9.5% increase in net sales for Q4 FY2015 compared to the same period last year.
- Earnings per share stood at Rs. 3.13 for Q4 FY2015, up from Rs. 1.34 in the previous year.
- Net sales and profit after tax are expected to grow at a CAGR of 7% and 13% from FY2014 to FY2017 respectively.
- The analyst recommends buying the stock with a target price of Rs. 105, citing improving performance, expanded international presence, and
Exide Ind: Net sales grows 17.51% to Rs19123.60 mn; Maintain buyIndiaNotes.com
Exide Industries' Net sales registered a growth of 17.51% to Rs.19123.60 million for the quarter ended June 30th 2014 as against Rs.15412.00 million for the corresponding quarter last year. Buy for a target of Rs.180.00.
Cadila Healthcare is an Indian pharmaceutical company headquartered in Ahmedabad, Gujarat. It has 11 plants located across India and is the fourth largest pharmaceutical company in India. While Cadila's revenue grew to INR 54.7 billion in 2015, its profitability ratios have declined in recent years based on an analysis of its 2016-2017 financial statements. Most of Cadila's key ratios related to liquidity, leverage, profitability and returns have decreased, suggesting the company has not been performing efficiently. As a result, based on its current financial condition, Cadila cannot be recommended as a good investment opportunity.
SKF India's net profit jumps to Rs512.40 mn during Q1CY15; BuyIndiaNotes.com
SKF India reported financial results for Q1 CY15. Net profit increased 4.36% to Rs. 512.40 million. Revenue rose 1.06% to Rs. 5856.30 million. EPS increased 4.36% to Rs. 9.72. EBITDA grew 6% to Rs. 935.60 million. The report recommends buying SKF India based on its financial outlook, with a target price of Rs. 1510 and expectations for sales and profit to grow at a CAGR of 8% and 13% through 2016.
International bodies like the IMF and WTO were established after World War 2 to promote international cooperation. The document discusses several key points about the IMF and WTO:
1. It outlines the structure and functions of the IMF, including its governance structure and role in providing loans to countries facing balance of payments crises.
2. It summarizes discussions at the WTO around agreements like the SPS agreement and issues related to food subsidies. The SPS agreement allows countries to impose food safety standards but they must be scientifically based.
3. It describes the outcomes of the 2013 Bali summit of the WTO which established the peace clause providing relief to India on food subsidies challenges and adopted the Trade Facilit
Thank God It’s Friday! This week: Super Bowl, Newcastle, Carl Jr, Adidas, Snickers, Lloyds Pharmacy, Mercedes, Volkswagen, MoneySuperMarket, Younker - Eden
Swine flu, also known as pig flu, is a respiratory disease caused by influenza viruses that normally infect pigs. There are different types of swine influenza viruses, with Type A being able to infect humans and cause significant disease. The 2009 H1N1 pandemic was a new hybrid virus that contained genetic elements from swine, avian, and human influenza viruses. Swine flu spreads between pigs and from infected humans to others through coughing or sneezing. While the risk of getting swine flu from eating pork is very low, preventive measures include vaccination, good hygiene, and isolating infected individuals.
The document appears to be a practice test for a postal/sorting assistant position in Andhra Pradesh, India. It consists of 50 multiple choice questions testing general knowledge and aptitude across topics like history, science, math, and language. The questions range in difficulty from identifying the country that participates in the Commonwealth Games to completing word patterns or logical reasoning puzzles. An answer key is provided at the end to check responses.
BENISON MEDIA is publisher of “Think Grain Think Feed”. Monthly magazine for feed and feed technology. Think Grain Think Feed provides important information related to animal feed and nutrition industry covering feed crop, feed ingredients, additives and premixes, processing and storage technology for poultry, dairy and aqua sector.
- Global coarse grain production in 2015 is forecast at 1,306 million tonnes, about 2% lower than 2014, mainly due to lower maize output in the US and EU.
- World coarse grain trade in 2015/16 is forecast at 169 million tonnes, down 3.6% from 2014/15. Maize trade is expected to fall to 126 million tonnes.
- Total coarse grain utilization is forecast to increase 0.8% to 1,303 million tonnes in 2015/16, with slower growth in feed and industrial use expected due to lower production.
Course: TDC 200 - Top World Destinations
This project was made for our clients, Mr. Bai Tsang, an executive chef and Ms. Wei Tsang, a fashion designer. They wish to explore Vietnam and we've designed them a trip which catered to their motivation, needs and expecations.
Este documento presenta un resumen de un proyecto de química sobre simbología, balanceo y peso. Brevemente describe las reacciones químicas, ecuaciones químicas y clasificación de reacciones. Explica conceptos como balanceo, estequiometría y composición porcentual. Finaliza con un cuestionario sobre el mol y Avogadro.
Supplier Risk Is Your Risk. Are you prepared?SAP Ariba
The document summarizes a panel discussion on supplier risk management. Kurt Albertson of The Hackett Group, Julius Rusnak of Semantic Visions, and Rob Conti of First Niagara Bank discussed their organizations' approaches to identifying, monitoring, and mitigating supplier risks. Semantic Visions uses semantic analysis of big data to detect various supplier risk types from multiple global sources. First Niagara Bank implemented Ariba solutions to improve supplier performance monitoring, contracting, and spend analysis capabilities for managing regulatory risk. The panelists encouraged organizations to take a proactive, integrated approach to supplier risk management.
This document is an excerpt from the book "Yoga in Daily Life" by Sri Swami Sivananda. It discusses the foundations of yoga practice and provides guidance for implementing bhakti (devotional), karma (selfless service), and jnana (knowledge) yoga in daily life. Some key points include: cultivating willpower and self-control on the spiritual path; finding happiness within rather than from external objects; the importance of a guru; different yogic diets and restrictions; practicing japa (mantra repetition), kirtan (devotional singing), and daily spiritual routines; developing selfless service without attachment to results; and using wisdom and discrimination to attain moksha (liberation
Suplementos de yodo en la gestación y la lactanciaCristobal Buñuel
Este documento resume la importancia del yodo durante la gestación y la lactancia, la situación de España con respecto a la ingesta de yodo, los beneficios y riesgos del suplemento de yodo en zonas con deficiencia leve o moderada, y aspectos éticos relacionados. Revisa estudios sobre los efectos del suplemento de yodo en biomarcadores maternos y neonatales, pero no hay evidencia clara de beneficios para el desarrollo infantil. Aunque el riesgo de efectos adversos es bajo, el suplemento universal no está
PANCREATIC BETA CELLS EVALUATION AFTER TREATED BY Plwleria macrocarpa (Mahkot...Repository Ipb
The document summarizes a study that evaluated pancreatic beta cells in diabetic monkeys treated with Phaleria macrocarpa fruit extract. The study found that treating diabetic monkeys with the extract increased the number and size of pancreatic beta cells compared to untreated diabetic monkeys. The extract treatment also improved glucose tolerance and insulin levels in the treated monkeys, suggesting the extract has antidiabetic properties by protecting pancreatic beta cells.
Children deserve equal rights regardless of attributes like race, color, religion or culture. The document outlines several important rights of children, including the right to protection from abuse and violence, special help if disabled, adequate nutrition and healthcare, and education. It discusses the problem of child soldiers, noting that over 30 conflicts worldwide involve forcing children as young as 7 to fight, take drugs, and face abuse. However, non-governmental organizations are working to help children escape this life and protect their rights.
Makalah ini membahas tentang sistem pernapasan dan sistem saraf pada manusia. Terdapat delapan penulis yang menyusun makalah ini. Makalah ini membahas tentang anatomi sistem pernapasan, organ-organ yang terlibat, proses pernapasan, dan jenis-jenis pernapasan.
A review on liver disorders and screening models of hepatoprotective agentspharmaindexing
This document provides an overview of liver disorders and screening models for hepatoprotective agents. It discusses the functions and structure of the liver, common liver disorders including hepatitis, cirrhosis and cancer. It also describes alcohol-induced liver diseases such as fatty liver, alcoholic hepatitis and cirrhosis. The symptoms, treatment and management of alcohol-induced liver diseases are explained. Nutrition and dietary supplements that can help treat and prevent further liver damage are also mentioned.
This document discusses Japan's approach to building resilience against disasters. It outlines the government's National Resilience Headquarters and its policy to prevent human and infrastructure damage from disasters and enable swift recovery. Case studies are presented on the cities of Sendai, Tokyo, Yokohama, and the private smart city development Kashiwa-no-ha that demonstrate distributed power infrastructure, optimized energy management, and an autonomous system to ensure basic functions in the event of blackouts or other disruptions.
This document discusses hypersensitivity and type 1 hypersensitivity reactions specifically. It defines hypersensitivity as an excessive immune response to harmless antigens that can cause tissue injury. Type 1 reactions involve IgE antibodies binding to mast cells and basophils, which then release inflammatory mediators like histamine. Common symptoms of type 1 reactions include allergic rhinitis, asthma, food allergies, and the most severe form, anaphylaxis. Skin testing and measuring antigen-specific IgE levels are used to diagnose type 1 hypersensitivity.
This document discusses the welfare impacts of different housing systems for egg-laying hens. It finds that battery cages severely restrict hen movement and do not allow hens to engage in natural behaviors. Furnished cages provide slightly more space but still do not allow hens to run, jump or fully spread their wings. Cage-free housing, such as aviary systems, provide hens with enough space to turn around comfortably and engage in natural behaviors like nesting and dust-bathing. However, cage-free systems also present some disease and injury risks that can be mitigated through management practices. Overall, the document concludes that cage-free housing has welfare advantages over cage systems for egg-laying hens.
Strengthen your portfolio with this strong pharma scripIndiaNotes.com
The document provides an analysis of Jenburkt Pharmaceuticals Limited, an Indian pharmaceutical company. It includes a recommendation to buy the company's stock with a target price of Rs. 490 based on the following highlights from the company's Q3 FY15 results: net profit increased 54% YoY to Rs. 30.15 million, net sales grew 9.74% YoY to Rs. 213.82 million, and earnings per share increased 54.22% YoY to Rs. 6.49. Financial projections estimate the company's net sales and profit will have a compound annual growth rate of 11% and 25%, respectively, between FY13-FY16.
TTK Healthcare Q4FY15: Net profit up 40.48% y/y to INR45.67m; BuyIndiaNotes.com
TTK Healthcare reported financial results for the quarter ended March 31, 2015. Net profit increased 40.48% to Rs. 45.67 million compared to the same period last year. Revenue rose 11.26% to Rs. 1119 million. Earnings per share increased 40.48% to Rs. 5.88. Operating profit grew 55.27% to Rs. 110.24 million. The company is expected to grow net sales and profit at a CAGR of 12% and 11% from 2014 to 2017. The report recommends buying the stock with a target price of Rs. 1240.
GSK Consumer: Operating Profit ramps up by 16.29% in Q4FY15; BuyIndiaNotes.com
GlaxoSmithKline Consumer Healthcare Ltd has reported its financial results for the quarter ended March 31, 2015. The company achieved net sales of Rs. 12,155.40 million for Q4 FY15, an 8.55% increase over the same period last year. Net profit was Rs. 1,967.80 million for the quarter, a 14.60% increase year-over-year. EBITDA saw a 16.29% increase to Rs. 3,233.10 million compared to the corresponding quarter of the previous year. The company also reported EPS of Rs. 46.79 for Q4 FY15, up from Rs. 40.83 in Q4 FY14. Glax
The document summarizes financial information for GlaxoSmithKline Consumer Healthcare Ltd for quarters ending June 2015 and September 2015E. Key highlights include:
- For Q1 FY16 ending June 2015, net profit increased 19.13% YoY to Rs. 1550.10 million, net sales grew 8.18% YoY, and operating profit rose 20.64% YoY.
- Estimates for Q2 FY16 ending September 2015 show net sales growth to Rs. 11850.30 million and net profit increasing to Rs. 1775.02 million.
- At the current market price of Rs. 6270.20, the stock trades at a P/E ratio of 40.
Divi's Lab Q4FY15: Net profit up 18.57% y/y to INR2,289.10m, Firstcall recomm...IndiaNotes.com
The document provides an analysis report on Divis Laboratories Ltd by Firstcall Research. It includes key financial highlights for Divis Labs for Q4 FY15, estimates for FY16-17, industry overview of the pharmaceutical sector in India, and a recommendation to buy Divis Labs shares with a target price of Rs. 2000. Some key points from the analysis are that Divis Labs reported a 10.33% rise in Q4 revenue and 18.57% rise in net profit. EPS growth was also 18.57% for Q4 FY15. The company is expected to see a CAGR of 17% in net sales and 15% in PAT from FY14-17E. Firstcall Research
Agro Tech Foods: Demonstrates continued strong growth in tough environment; BuyIndiaNotes.com
The document provides a quarterly financial results update for Agro Tech Foods Ltd for the quarter ending June 30, 2015. Key highlights include:
- Net sales grew 1.34% to Rs. 1818.40 million compared to Rs. 1794.30 million in the same quarter last year.
- Net profit was Rs. 45.80 million, down from Rs. 53.50 million in the same quarter last year.
- EBITDA grew 12.20% to Rs. 111.30 million from Rs. 99.20 million in the same quarter last year.
- EPS for the quarter was Rs. 1.88, down 14.39% from Rs. 2.20 in
Excel Crop Care: Net profit ramps up by 214% in FY14, buyIndiaNotes.com
Net profit ramps up by 214% for FY14 and stood at Rs. 672.51 million as against Rs. 214.24 million for the period of previous year. Operating Profit also increased by 90% to Rs. 1084.81 million. Buy for a target of Rs810.
Firstcall recommend Jyothy Laboratories, FY15 net profit up 48.7%IndiaNotes.com
The document provides an analysis of Jyothy Laboratories Ltd, recommending the stock as a buy. It summarizes the company's financial performance, with net sales and profit expected to grow at 15% and 42% CAGRs from 2014-2017. At the target price of Rs. 310, the stock would trade at P/E multiples of 31.76x and 27.64x for FY16E and FY17E respectively. The FMCG sector is expected to grow at a 14.7% CAGR to US$ 110.4 billion by 2020, providing a positive industry outlook.
Firstcall recommends a textile stock for the mid- to long-termIndiaNotes.com
The document provides a stock analysis and recommendation for Nitin Spinners Ltd. Key details include:
- In Q4 FY15, the company's net sales increased 54% to Rs. 1881 crore and net profit grew 43% to Rs. 123 crore.
- Earnings per share grew 43% to Rs. 2.69 for Q4.
- The analyst recommends buying the stock with a target price of Rs. 53, citing expected sales and profit growth of 18% and 16% annually through 2017.
Shilpa Medicare: Buy for medium to long term investmentIndiaNotes.com
At CMP of Rs. 467.40, the stock P/E ratio is at 17.33 x FY15E and 14.73 x FY16E respectively. Investors are recommended to buy the stock for a price target of Rs.514.00 for medium to long term investment.
Cadila Healthcare: Recommends dividend @ 240% for FY15; Maintain buyIndiaNotes.com
Cadila Healthcare Ltd reported a 16.24% increase in net sales and 46.51% increase in net profit in Q4 FY15 compared to the same period last year. EBITDA grew 38.89% and profit before tax grew 51.44%. The company recommended a dividend of Rs. 12 per share and acquired full ownership of Zydus BSV Pharma. The analyst recommends buying the stock with a target price of Rs. 1920, citing expected sales and profit growth of 15% and 24% annually through 2017.
Tasty Bite Eatables' Q4FY15 net profit up 118.27% y/y; BuyIndiaNotes.com
Tasty Bite Eatables reported financial results for the quarter ending March 2015. Net profit increased 118% to Rs. 31.78 million compared to the prior year quarter. Revenue rose 14% to Rs. 455.46 million. Earnings per share were Rs. 12.39, up 118% year-over-year. For the full year, net sales and profit are expected to grow at a CAGR of 20% and 22% respectively through 2017. The report recommends buying the stock with a target price of Rs. 1145.00 for medium to long term investment based on financial projections and industry growth prospects.
Firstcall recommend this pharma scrip after Q4FY15 revenue rise 18.10% y/yIndiaNotes.com
The document provides financial results for Cipla Ltd for the quarter ending March 31, 2015. Key highlights include:
- Revenue for Q4 FY15 rose 18.1% to Rs. 27,014.60 million compared to the prior year period.
- Net profit for Q4 FY15 was Rs. 2,139 million, down 22.7% from the previous year.
- EBITDA for Q4 FY15 was Rs. 4,339.60 million, down 4% from the previous year.
- For FY15-17, net sales are expected to grow at a CAGR of 9% while net profit is forecast to increase at a CAGR
Umang Dairies Q4FY15: Firstcall recommend for target of 65IndiaNotes.com
- Umang Dairies Ltd is an Indian dairy company that reported a slight decrease in net profit of 0.11% for Q4 FY15 compared to the same quarter the previous year, while revenue decreased 21.15%.
- For the full FY15, revenue increased 16% and net profit increased 43% compared to the previous fiscal year.
- The report recommends buying shares of Umang Dairies Ltd, setting a target price of Rs. 65 based on projected financials and valuation metrics like P/E, P/BV, and EV/EBITDA.
Firstcall recommend this pharma scrip after 113.08% y/y upsurge in Q4FY15 net...IndiaNotes.com
Shasun Pharmaceuticals Ltd reported financial results for the quarter ended March 31, 2015. Net sales were Rs. 3,579.50 million, a 1.46% decrease year-over-year. Net profit increased 113.08% to Rs. 221.60 million with earnings per share of Rs. 3.68. Formulations sales grew 34% year-over-year while API sales including CRAMS were Rs. 2,553.00 million, representing 76% of total quarterly revenue. The company expects annual net sales and profit after tax to grow at a compound annual growth rate of 10% and 6% from 2014 to 2017, respectively.
Firstcall recommends an ethnic Indian foods scripIndiaNotes.com
The document provides a research report on ADF Foods Ltd from April 14, 2015. It includes the company's stock information and financial details such as quarterly results from Q3 FY15, estimated annual results from FY14-FY16, balance sheet details from FY13-FY16E, and a peer comparison. The summary highlights that for Q3 FY15, revenue increased 3.92% to Rs. 337.71 million while net profit grew 32.62% to Rs. 26.55 million. For 9M FY15, revenue rose 10% to Rs. 1071.69 million and PAT increased 27.60% to Rs. 118.74 million. The report recommends buying
Indian chemical industry to reach a size of $350 bn by 2021; Buy Vinyl ChemicalsIndiaNotes.com
The document provides an analysis and stock recommendation for Vinyl Chemicals (India) Ltd. Some key points:
- Vinyl Chemicals reported an 11.8% increase in net profit and 12.84% rise in revenue for Q4 FY15 compared to the previous year.
- Earnings per share grew 11.8% to Rs. 1.86 for Q4 FY15.
- The company recommended a dividend of Rs. 1.5 per share for FY15 and saw net sales increase 51% to Rs. 4415.6 million for the full year.
- The analyst recommends buying the stock with a target price of Rs. 83, noting expected revenue and
Grasim Industries reports improved performance in Q1FY16IndiaNotes.com
Grasim Industries reported improved performance for the quarter ended June 2015, with consolidated net sales up 7% to Rs. 8,599 crore. Operating margin improved 130 basis points to 16.5% due to lower raw material and power costs. However, operating profit grew only 16% to Rs. 1,417 crore due to higher interest and depreciation costs. Net profit declined 1% to Rs. 484.67 crore. Key segments like viscose staple fibre saw revenue increase 15% and EBITDA surge 72% on higher sales volumes and lower input costs. The cement subsidiary UltraTech reported 7% revenue growth but net profit fell 5% to Rs. 591 crore.
The document provides a technical analysis recommendation for buying Lupin stock. It recommends buying between price levels of 1790 and 1820 with a stop-loss of 1660. The analysis notes that shorter term moving averages have converged and the RSI oscillator is showing a positive signal in the mid-range, indicating buy signals on both technical indicators.
Indoco Remedies reported quarterly results slightly below expectations due to restructuring of its domestic business. Sales grew 9% to Rs 216 crore while margins improved. Exports grew 23% but was offset by weak 2% domestic growth. The company expects the domestic segment to recover in the second half of the year. For the full year, sales are expected to grow 19% overall. While the quarter saw short-term impacts of domestic restructuring, the analyst maintains a HOLD recommendation based on the company's business model and expectations for profitability and returns to further expand.
Thermax Limited is a leading energy and environment solutions provider operating globally. In Q1 FY2016, the company's net sales increased 19.27% to Rs. 10011.90 million and net profit increased 48.96% to Rs. 616.78 million compared to the same period last year. The order balance on June 30, 2015 stood at Rs. 42750 million, down 18% from the previous year. The company plans to set up new manufacturing facilities. Analysts recommend buying the stock with a target price of Rs. 1145, citing expected growth in earnings.
Can Fin Homes Ltd reported financial results for the quarter ended June 30, 2015, with net sales of Rs. 2425.30 million, a 37.8% increase year-over-year, and net profit of Rs. 321.01 million, a 69.33% increase. The company provides loans for housing and non-housing purposes through a network of over 100 branches across India, and financial projections estimate continued revenue and profit growth over the next few years.
This document provides an analysis of SQS India BFSI Ltd's financial performance for Q1 FY16. It reports that the company's net sales grew 13.6% YoY to Rs. 583 million in Q1 FY16. Net profit increased 38.76% YoY to Rs. 87 million. EBITDA was Rs. 143 million, a 28.25% increase YoY. The document recommends buying shares of SQS India BFSI Ltd based on expected future revenue and profit growth.
The document provides a daily technical analysis of the stock MAXWELL. It recommends buying the stock with targets of 75/78 and a stop-loss of 66. The analyst believes the stock will head upward in the near term as it has broken out of a downward trend line and is supported by an upward trend line with momentum. The analysis is for a duration of 2-3 days.
Deepak Nitrite Ltd reported financial results for Q1 FY16, with net profit increasing 38.11% to Rs. 133.58 million. Revenue grew 4.21% to Rs. 3383.22 million. EBITDA increased 35.39% to Rs. 381.75 million. EPS stood at Rs. 1.28, up from Rs. 0.93 the previous year. Domestic revenue grew marginally while export revenue increased 12%. The company expects net sales and PAT to grow at a CAGR of 11% and 15% from FY14 to FY17. At Rs. 72.05, Deepak Nitrite is recommended as a buy.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.
University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
Confirmation of Payee (CoP) is a vital security measure adopted by financial institutions and payment service providers. Its core purpose is to confirm that the recipient’s name matches the information provided by the sender during a banking transaction, ensuring that funds are transferred to the correct payment account.
Confirmation of Payee was built to tackle the increasing numbers of APP Fraud and in the landscape of UK banking, the spectre of APP fraud looms large. In 2022, over £1.2 billion was stolen by fraudsters through authorised and unauthorised fraud, equivalent to more than £2,300 every minute. This statistic emphasises the urgent need for robust security measures like CoP. While over £1.2 billion was stolen through fraud in 2022, there was an eight per cent reduction compared to 2021 which highlights the positive outcomes obtained from the implementation of Confirmation of Payee. The number of fraud cases across the UK also decreased by four per cent to nearly three million cases during the same period; latest statistics from UK Finance.
In essence, Confirmation of Payee plays a pivotal role in digital banking, guaranteeing the flawless execution of banking transactions. It stands as a guardian against fraud and misallocation, demonstrating the commitment of financial institutions to safeguard their clients’ assets. The next time you engage in a banking transaction, remember the invaluable role of CoP in ensuring the security of your financial interests.
For more details, you can visit https://technoxander.com.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
13 Jun 24 ILC Retirement Income Summit - slides.pptxILC- UK
ILC's Retirement Income Summit was hosted by M&G and supported by Canada Life. The event brought together key policymakers, influencers and experts to help identify policy priorities for the next Government and ensure more of us have access to a decent income in retirement.
Contributors included:
Jo Blanden, Professor in Economics, University of Surrey
Clive Bolton, CEO, Life Insurance M&G Plc
Jim Boyd, CEO, Equity Release Council
Molly Broome, Economist, Resolution Foundation
Nida Broughton, Co-Director of Economic Policy, Behavioural Insights Team
Jonathan Cribb, Associate Director and Head of Retirement, Savings, and Ageing, Institute for Fiscal Studies
Joanna Elson CBE, Chief Executive Officer, Independent Age
Tom Evans, Managing Director of Retirement, Canada Life
Steve Groves, Chair, Key Retirement Group
Tish Hanifan, Founder and Joint Chair of the Society of Later life Advisers
Sue Lewis, ILC Trustee
Siobhan Lough, Senior Consultant, Hymans Robertson
Mick McAteer, Co-Director, The Financial Inclusion Centre
Stuart McDonald MBE, Head of Longevity and Democratic Insights, LCP
Anusha Mittal, Managing Director, Individual Life and Pensions, M&G Life
Shelley Morris, Senior Project Manager, Living Pension, Living Wage Foundation
Sarah O'Grady, Journalist
Will Sherlock, Head of External Relations, M&G Plc
Daniela Silcock, Head of Policy Research, Pensions Policy Institute
David Sinclair, Chief Executive, ILC
Jordi Skilbeck, Senior Policy Advisor, Pensions and Lifetime Savings Association
Rt Hon Sir Stephen Timms, former Chair, Work & Pensions Committee
Nigel Waterson, ILC Trustee
Jackie Wells, Strategy and Policy Consultant, ILC Strategic Advisory Board
Hester Biosciences FY15: Net profit up 45% y/y; Buy
1. CMP 629.00
Target Price 720.00
ISIN: INE782E01017
JUNE 20th
2015
HESTER BIOSCIENCES LTD
Result Update (PARENT BASIS): Q4 FY15
BUY
Index Details
Stock Data
Sector Pharmaceuticals
BSE Code 524669
Face Value 10.00
52wk. High / Low (Rs.) 740.00/142.50
Volume (2wk. Avg.) 1111
Market Cap (Rs. in mn.) 5350.90
Annual Estimated Results (A*: Actual / E*: Estimated)
YEARS FY15A F16E FY17E
Net Sales 900.37 1026.42 1149.59
EBITDA 264.97 309.33 343.94
Net Profit 145.82 146.89 161.46
EPS 17.14 17.27 18.98
P/E 36.70 36.43 33.14
Shareholding Pattern (%)
1 Year Comparative Graph
HESTER BIOSCIENCES LTD S&P BSE SENSEX
SYNOPSIS
Hester Biosciences Ltd manufactures and markets
animal vaccines and health products.
In Q4 FY15, company’s net profit jumps to Rs. 41.28
mn against Rs. 39.15 mn in Q4 FY14, an increase of
5.44%.
Revenue for the quarter rose by 6.93% to Rs. 233.61
mn from Rs. 218.48 mn, when compared with the
prior year period.
During Q4 FY15, EBIDTA is Rs. 73.20 mn as against
Rs. 103.29 mn in the corresponding period of the
previous year.
During the quarter, PBT increased by 11.96% to Rs.
58.30 mn from Rs. 52.07 mn over the corresponding
quarter of previous year.
EPS of the company stood at Rs. 4.85 a share during
the quarter as against Rs. 4.60 over previous year
period.
Hester Biosciences Ltd has recommended a dividend
of Rs 3.10 per equity share of Rs 10 each (31%) for
the financial year 2014-15.
Net Sales has been reported at Rs. 900.37 mn for the
year ended 31 March 2015 as compared to Rs.
690.48 mn for the previous year, registering a
growth of 30%.
Net Profit for FY14-15 has been reported at Rs.
145.82 mn as compared to Rs. 100.88 mn for the
previous year, registering a growth of 45%.
Net Sales and PAT of the company are expected to
grow at a CAGR of 15% and 14% over 2014 to 2017E
respectively.
PEER GROUPS CMP MARKET CAP EPS P/E (X) P/BV(X) DIVIDEND
Company Name (Rs.) Rs. in mn. (Rs.) Ratio Ratio (%)
Hester Biosciences Ltd 629.00 5350.90 17.14 36.70 6.22 31.00
Albert David Ltd 298.00 1700.70 24.01 12.41 1.63 55.00
SMS Pharmaceuticals Ltd 599.75 5077.00 41.63 14.41 1.98 20.00
Claris Lifesciences Ltd 249.20 13598.30 22.38 11.13 1.26 0.00
2. QUARTERLY HIGHLIGHTS (PARENT BASIS)
Results Updates- Q4 FY15
Hester Biosciences Limited manufactures and markets
animal vaccines and health products in India and
internationally has reported its financial results for the
quarter ended 31 Mar, 2015.
The company’s net profit jumps to Rs. 41.28 million against Rs. 39.15 million in the corresponding quarter
ending of previous year, an increase of 5.44%. Revenue for the quarter rose by 6.93% to Rs. 233.61 million from
Rs. 218.48 million, when compared with the prior year period. Reported earnings per share of the company
stood at Rs. 4.85 a share during the quarter as against Rs. 4.60 over previous year period. Profit before interest,
depreciation and tax is Rs. 73.20 million as against Rs. 103.29 million in the corresponding period of the previous
year.
Break up of Expenditure
Months Mar -15 Mar -14 % Change
Net Sales 233.61 218.48 6.93%
PAT 41.28 39.15 5.44%
EPS 4.85 4.60 5.44%
EBITDA 73.20 103.29 -29.13%
Break up of Expenditure
(Rs in millions)
Q4 FY15 Q4 FY14
%
CHNG
Cost of Material consumed 37.38 33.66 11%
Purchase of Stock in Trade 5.64 11.02 -49%
Employee Benefit Expenses 39.95 31.53 27%
Depreciation & Amortization
Expense
27.57 15.4 79%
Other Expenses - Mfg.exp. 31.49 23.22 36%
Other Exp - Selling, Admn. 48.62 32.55 49%
3. Segment Revenue
Latest updates
• Hester Biosciences Ltd has recommended a dividend of Rs 3.10 per equity share of Rs 10 each (31%) for the
financial year 2014-15.
• During the year, Company has made further investment by way of equity in wholly owned Subsidiary
companies to the extent of Rs 50.21 million.
Commercialized R&D Projects
Development of Gumboro vaccine
Development of Thermo-stable Newcastle Disease vaccine
Development of freeze dried probiotic for poultry
On-going R&D Projects
Monitoring of poultry diseases
Development of new generation recombinant poultry vaccines
Development of ELISA & Lateral flow diagnostic kits
4. COMPANY PROFILE
Hester Biosciences Limited is one of India’s leading animal health care companies. Being the country’s second
largest poultry vaccine manufacturer, Hester has rightly positioned itself to capitalise on upcoming opportunities
in the animal health care industry globally.
Apart from poultry vaccines, the company has recently forayed into poultry health products, large animal
vaccines and large animal health products. These four verticals put together will underpin Hester’s identity as a
strong animal health company, addressing all segments in the animal health care sector.
Founded in 1987, by Mr. Rajiv Gandhi, a first generation entrepreneur, he converted a proprietary trading
business into Asia’s largest single-location animal biological manufacturing facility. Benchmarked to
international quality compliance standards, Hester manufactures and markets veterinary vaccines and health
products in the Indian as well as globally.
The Company has a state-of-the-art manufacturing facility unit in Mehsana, Gujarat, complying withstringent
international norms. Hester is WHO-GMP, Good Laboratory Practices (GLP), ISO 9001, ISO 14001&OHSAS 18001
certified.
The Company’s product portfolio comprises of over 45 vaccines and over 70 health products, which are
distributed through Hester’s all-India distribution network. Exports are currently to eight countries with the
registration process on in over 20 countries.
Hester’s key strength is embedded in its cutting-edge research and development capabilities. The Company’s
R&D Centre is recognized by the Department of Scientific and Industrial Research (DSIR), Ministry of Science and
Technology, Government of India. Current research activities are aimed at developing next generation veterinary
recombinant vaccines.
For the financial year 2014-15, the company reported revenue of INR 900 million with a net profit of INR 146
million.
5. FINANCIAL HIGHLIGHT (PARENT BASIS) (A*- Actual, E* -Estimations & Rs. In Millions)
Balance Sheet as at March 31, 2014-2017E
FY14A FY15A FY16E FY17E
SOURCES OF FUNDS
Shareholder's Funds
Share Capital 85.07 85.07 85.07 85.07
Reserves and Surplus 674.65 775.21 922.10 1069.64
1. Sub Total - Net worth 759.72 860.28 1007.17 1154.71
Non Current Liabilities
Long term Borrowings 61.95 144.91 162.30 176.91
Deferred Tax Liabilities 49.26 53.81 57.04 59.89
Other Long term Liabilities 0.14 0.00 0.00 0.00
2. Sub Total - Non Current Liabilities 111.35 198.72 219.34 236.80
Current Liabilities
Short term Borrowings 262.55 200.64 172.55 151.84
Trade Payables 44.64 45.72 48.46 50.89
Other Current Liabilities 71.88 62.17 65.90 69.20
Short Term Provisions 38.03 39.23 40.01 41.62
3. Sub Total - Current Liabilities 417.10 347.76 326.93 313.54
Total Liabilities (1+2+3) 1288.17 1406.76 1553.44 1705.05
APPLICATION OF FUNDS
Non-Current Assets
Fixed Assets
Tangible assets 505.84 522.76 554.13 581.83
Intangible assets 0.93 2.88 3.17 3.42
Capital Work in Progress 131.51 142.74 154.16 164.95
a) Sub Total Fixed Assets 638.28 668.38 711.45 750.20
b) Non-current investments 36.33 86.53 102.97 119.45
c) Long Term loans and advances 80.58 85.27 89.53 94.91
1. Sub Total - Non Current Assets 755.19 840.18 903.96 964.56
Current Assets
Inventories 355.89 291.08 314.63 342.05
Trade receivables 140.62 182.92 223.16 265.56
Cash and Bank Balances 10.60 42.98 54.15 64.99
Short-terms loans & advances 25.87 49.60 57.54 67.89
2. Sub Total - Current Assets 532.98 566.58 649.48 740.49
Total Assets (1+2) 1288.17 1406.76 1553.44 1705.05
6. Annual Profit & Loss Statement for the period of 2014 to 2017E
Value(Rs.in.mn) FY14A FY15A FY16E FY17E
Description 12m 12m 12m 12m
Net Sales 690.49 900.37 1026.42 1149.59
Other Income 7.73 3.29 3.45 3.66
Total Income 698.22 903.66 1029.88 1153.25
Expenditure -437.19 -638.69 -720.55 -809.31
Operating Profit 261.03 264.97 309.33 343.94
Interest -64.34 -44.07 -50.24 -56.27
Gross profit 196.69 220.90 259.09 287.67
Depreciation -53.78 -52.91 -60.32 -66.95
Exceptional Items 0.00 26.53 0.00 0.00
Profit Before Tax 142.91 194.52 198.77 220.72
Tax -42.03 -48.70 -51.88 -59.26
Net Profit 100.88 145.82 146.89 161.46
Equity capital 85.07 85.07 85.07 85.07
Reserves 674.65 775.21 922.10 1069.64
Face value 10.00 10.00 10.00 10.00
EPS 11.86 17.14 17.27 18.98
Quarterly Profit & Loss Statement for the period of 30th Sep, 2014 to 30th June, 2015E
Value(Rs.in.mn) 30-Sep-14 31-Dec-14 31-Mar-15 30-Jun-15E
Description 3m 3m 3m 3m
Net sales 214.90 218.83 233.61 247.63
Other income 0.17 0.22 2.74 1.37
Total Income 215.07 219.05 236.35 249.00
Expenditure -159.80 -155.53 -163.15 -172.10
Operating profit 55.27 63.52 73.20 76.90
Interest -10.91 -9.62 -13.86 -15.94
Gross profit 44.36 53.90 59.34 60.96
Depreciation -8.53 -8.53 -27.57 -21.50
Exceptional Items 0.00 0.00 26.53 0.00
Profit Before Tax 35.83 45.37 58.30 39.45
Tax -8.40 -11.65 -17.02 -10.30
Net Profit 27.43 33.72 41.28 29.16
Equity capital 85.07 85.07 85.07 85.07
Face value 10.00 10.00 10.00 10.00
EPS 3.22 3.96 4.85 3.43
8. OUTLOOK AND CONCLUSION
At the current market price of Rs. 629.00, the stock P/E ratio is at 36.43 x FY16E and 33.14 x FY17E
respectively.
Earnings per share (EPS) of the company for the earnings for FY16E and FY17E are seen at Rs. 17.27 and Rs.
18.98 respectively.
Net Sales and PAT of the company are expected to grow at a CAGR of 15% and 14% over 2014 to 2017E
respectively.
On the basis of EV/EBITDA, the stock trades at 18.21 x for FY16E and 16.32 x for FY17E.
Price to Book Value of the stock is expected to be at 5.31 x and 4.63 x for FY16E and FY17E respectively.
We recommend ‘BUY’ in this particular scrip with a target price of Rs. 720.00 for Medium to Long term
investment.
9. INDUSTRY OVERVIEW
ANIMAL VETERINARY VACCINES MARKET
The global market for animal vaccines is estimated at $5.8 billion by 2013 and expected to grow at a healthy
CAGR of 8.1% to $8.6 billion by 2018. The factors responsible for the growth of the market include an increasing
incidence of zoonotic diseases in humans, growing prevalence of animal disease, increasing investments and
continuous innovation. With growing awareness of animal health in emerging economies, players are
introducing recombinant vaccines.
Europe accounts for the largest share of the animal vaccines market followed by North America. The market is
dominated by Tier 1 players; the top 5 players contribute close to 70% of the global market. New entrants,
though facing high barriers in entering these markets on account of capital-intensity and strict regulations, these
markets are reaching maturity and could register mid-single digit growth rates for five years. Asia, parts of Africa
and LATAM are poised to grow at double-digit rates owing to the increasing investment opportunities for
companies in these immature markets and improving healthcare facilities for animals. Countries like China, India
and Brazil are expected to be major growth drivers.
Animal health sits at the intersection of two large and growing industry sectors: pet care and livestock
production. These two sectors are interrelated. As livestock production and pet ownership increase in response
to demand growth and increased standard of living, animal health medicines and vaccines will be required in
greater volumes.
INDIAN LIVESTOCK SECTOR
India possesses the largest livestock population in the world and accounting for a fifth of the world’s cattle
population. The pet population though, still remains small. Consequently, the Indian animal health care industry
is estimated at Rs22 billion, contributing a mere 2.2% to the global health care industry. Livestock plays an
important role in the national economy as well as the socio-economic development, augmenting family incomes
and generating gainful rural employment particularly for the landless marginal farmers and women.
Growing at a CAGR of about 4%, India’s livestock population is likely to grow from 280 million to about 312
million by 2015. Cattle constitute 60 percent of India’s livestock population followed by buffaloes (32 percent),
goats (four percent) and sheep (two percent). Andhra Pradesh, Rajasthan and Uttar Pradesh account for about 35
percent of India’s total livestock population followed by Karnataka, Madhya Pradesh, Maharashtra, Tamil Nadu
and West Bengal.
India is the world’s largest milk producer with an annual output of around 116 million tonnes. With an annual
growth rate of 4%, India’s milk production accounts for 16% of the total global output. The Union Agriculture
10. Ministry’s Department of Animal Husbandry, Dairying & Fisheries is focusing on increasing animal population
and productivity. Besides, the Ministry of Food Processing Industries intends to implement programs to increase
dairy processing and value-added product export, in line with the vision to make India the ‘food factory of the
world.’
INDIAN POULTRY SECTOR
India is emerging as the world’s fifth largest egg producer. It produces 3.6% of global egg production. India also
ranks sixth in broiler production with an annual output of 2.39 million tonnes of broiler meat estimated at about
H350 bn. The scope of this sector is reflected in the fact that the annual per capita consumption of poultry in
India is a mere 3.1 kg compared with 70-80 kg in developed countries. India produces nearly 27 million chickens
a week (95% traded alive). The outlook for poultry production appears bright, the annual growth of the layer
business estimated at 6% and broilers at 12%. Efficient distribution, cold chain infrastructure investments and
increasing preference for frozen chicken are likely to be key industry drivers.
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