From MEL IPO Prospectus:
2009 Profit Rs.93,129/-
2009 EPS (@100,000,000 shares - post IPO number):Rs.0.00093
2010 Profit Rs.10,405,196/-
2010 EPS (as above): Rs.0.10
2011 Profit Rs.20,245,147/-
2011 EPS (as above): Rs.0.20
2011/12 First half profit Rs.41,022,260/-
2012 EPS (as above for six months): Rs.0.41
2012 EPS (annualized - without assuming a growth): Rs.0.82
(it is reported above that they expect a 2012 EPS of 0.84 but for how many shares?)
IPO P/E from above: 17.07
Current Market P/E (CSE): 14.2
Current Market P/E (Asia): 12.87
Current Power and Energy P/E (Asia): 13.95
2009 to 2010 growth 107.5 times
2010 to 2011 growth 2 times
2011 to 2012 growth 4.1 times, if last six months are as same as the first six.
Is MEL growing so fast???
Why drop from 107.5 times to 2 times and then again up to 4.1 times?
Can they keep on growing at this rate or will it stabilize? Or even go down?
Isn't their income fixed in future (from CEB)?
Future needs to be looked at. Please add your thoughts.