Gaur Polymer exporter Vikas WSP is expected to announce an earning per share of Rs 47-48 for the fourth-quarter ended March 1998. However, the full year EPS is likely to be around Rs 41-42. The company is expected to announce a net profit of Rs 11.72 crore on a turnover of around Rs 45-48 crore for the fourth quarter ended March. The full year growth in net is expected to be around 65 per cent from Rs 28.28 crore to Rs 46 crore. Turnover for 1998-99 at around Rs 160 crore is expected to grow by 40 per cent. Vikas WSP's board is meeting on April 9 to take up the results and dividend.Vikas WSP, a new found fast moving consumer good (FMCG) stock on the bourses, has managed to catch the fancy of institutions. The FII shareholders include GMO Fund, 20-20 Fund, Templeton and the US-based Battery March. After Morgan Stanley's exit last year, Indian institutions have picked up substantial holding in the company.
Among the Indian funds, Prudential ICICI, SBI Mutual Fund have bought into the company in the pastfew months. With the FII holding reaching close to the stipulated level of 24 per cent, it may not be long before the company takes permission to hikes the FII ceiling to 30 per cent. Vikas WSP's performance in the first nine months is close to the 1997-98 performance.
Turnover for first three quarters stood at Rs 112.38 crore against Rs 112.08 crore in 1997-98. Net profit at Rs 27.96 crore too is close to the 1997-98 crore figure of Rs 28.28 crore. Vikas' product finds usage in industries like bakery, food, pharmaceuticals, oil drilling, textiles, paper and consumer goods like toothpaste and cosmetics. On the back of heavy institutional buying, the stock zoomed from a low of Rs 153 in early February to a high of Rs 450 in March. The stock currently trades at Rs 398.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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