Corporate Highlights

• Merck has come out with strong set of numbers. Its Q2FY10 revenues stood up 24% to Rs 130 crore Vs Rs 105 crore. Its EBITDA grew by 53% to Rs 24.56 crore, OPM stood at 18.87% Vs 14.8% while PAT stood up 43% to Rs 25 crore Vs Rs 17 crore.

• Jindal Saw has informed that the Board of Directors of the company has decided to split/sub-divide the face value of equity shares of Rs 10 each into Rs 2 per share subject to necessary approvals.

• Petron Engineering Construction has received letter of Intent from Utility Energytech and Engineers Pvt Ltd, Noida for Erection of Boiler Package of Rosa, Phase — II, Thermal Power Project, Rosa, Uttar Pradesh, for a contract value of Rs 38.28 crore.

• Polaris Software is going to buy Laser Soft for Rs 52 crore in an all cash deal. Laser Soft is a Chennai-based company.

• Bajaj Auto says volume growth will get better going forward. The company will realise the full effect of Discover in the coming quarter. The YoY growth in second half will be 50% plus. The company will soon make another launch in January. The production will be more at Pantnagar. Also, increase in material cost is a concern for margins. The Discover contributed 50,000 units additional volume. He further added that the company can maintain over 20% EBITDA margins. Also, higher volumes will offset rise in input costs. Last month, Discover sales were at 1 lakh while sales of pulsar were 55000. The Pulsar enjoys 50% market share.

• KCP Sugar net profit was of Rs 17 crore Vs Rs 5.50 crore. The net profit was higher than total FY09 bottomline of Rs 11.3 crore. Net sales stood at Rs 65 crore Vs Rs 41.60 crore. Operating profit stood at Rs 19.60 crore Vs Rs 10.20 crore. Inventory gains were seen for sugar companies this quarter.