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Vivek Sukhani
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Joined: 23/Jul/2006
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   Topic: Annual Report Season
Posted: 14/Jun/2009 at 7:59pm |
June onwards, investors start receiving Annual Reports from the companies they hold investments in. Annual reports are a wealth of information, and many direct as well as indirect conclusions may be arrived at, if someone goes through them a bit carefully.
The reason why I want to start this thread is to allow investors to post their views on the Annual reports they may be receiving. They may share something good or bad they may have discovered during the course of their perusal/study.
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Jai Guru!!!
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Vivek Sukhani
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Joined: 23/Jul/2006
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Posted: 14/Jun/2009 at 8:03pm |
To begin with, I have received Annual reports of a few companies for the Year ending 31.03.2009 and notable among them are:
Great eastern Shipping
Asian Paints
Century Enka
Kesoram Industries
Allahabad Bank
Rallis india
Albert David
Jayshree Tea etc.
Till this point of time, I have formed a positive opinion about Century enka, Albert david, Rallis India and Jayshree Tea. I havent gone through the AR of Asian paints, but the AR of GESCO is not portraying anything great.
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Jai Guru!!!
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Vivek Sukhani
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Joined: 23/Jul/2006
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Posted: 14/Jun/2009 at 8:09pm |
Great eastern Shipping's management is indicating lower tanker earnings and lower dry bulk friegt earnings for the current year. They have reduced their fleet size, and have also scrapped new buildings order. The emphasis seems to be more on the offshore side. The management is sounding quite cautious.....
The Balance sheet looks robust, but its the P/L where some serious knockout punches may come in. Tanker earnings have cooled quite sharply, and they are also indicating lower tonne-mile demand on the dry bulk side. What otherwise would have been great news like reduction in port congestion, is actually adding to their woes.
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Vivek Sukhani
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Joined: 23/Jul/2006
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Posted: 14/Jun/2009 at 8:19pm |
2 companies whose Annual report are making a delightful reading are century enka and Albert david.
Century enka has considerably reduced its debt by 150 crores. Cash balance has also moved up. They think excise duty cuts to bring in some relief and also think that anti-dumping duties will play a positive role as well for NTCF business...
Albert David hasnt reduced debt considerably but has increased its cash balance. They have launched new products for vision care this year and are placing a lot of emphasis on maintaing and building a state-of the art manufacturing base. The Annual report looks very uncomplicated.....there's no FCCBs, no warrants, no major investments on books, no working capital issues. The most surprising thing is that they deal with just 1 banker, while having three plants and having sales depots all over the place. The Auditors report is also okay, except that they seem to be having many dispute with governemental authorities. But then, they are regular in paying their statutory liabilities. Also, the management thinks that the current year's performance is likely to better than that of last year.
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Jai Guru!!!
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Sonu A.Dhariwal
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Posted: 01/Jul/2009 at 5:19pm |
do you have any info on Sundaram Finance??
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SingleMalt
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Joined: 25/Apr/2009
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Posted: 17/Jul/2009 at 8:59pm |
Vivek, are Annual reports sent out as a matter of routine to all share holders? Or do we have to register to have them mailed out?
The reason I ask is, I dont believe we have got any Annual Report.. I mean ever! 
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If only I knew then what I know now...
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Hitesh Shah
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Joined: 12/Oct/2008
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Posted: 17/Jul/2009 at 9:10pm |
Originally posted by SingleMalt
Vivek, are Annual reports sent out as a matter of routine to all share holders? Or do we have to register to have them mailed out?
The reason I ask is, I dont believe we have got any Annual Report.. I mean ever! |
Where are you located in India? I stay in Vasai just outside Mumbai and I think that the postal service here looks upon Annual Reports as theirs for the selling by weight! 
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SingleMalt
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Joined: 25/Apr/2009
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Posted: 17/Jul/2009 at 9:36pm |
Originally posted by Hitesh Shah
Where are you located in India? I stay in Vasai just outside Mumbai and I think that the postal service here looks upon Annual Reports as theirs for the selling by weight!
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My parents stay in Chennai. So, I take it they are getting sent out, but the postal service is playing truant?
hmm.. You would hope that one.. atleast one government department would do their job properly! 
Edited by SingleMalt - 17/Jul/2009 at 9:37pm
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