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Tuesday, March 31, 2009

GIP Gontermann Peipers India Ltd Results

Gontermann Peipers India Ltd (GIP) The financial performance of the company had not been too encouraging for the second quarter and as predicted, it got only worse for the third quarter ended 31st Dec 2008. YoY, sales dipped 27%. When the beginning was bad, the ending had to suffer. It ended the quarter with a net loss of Rs.1.08 crore. OPM more than halved from 23% in Q3FY08 to around 7% in Q3FY09.

Apart from the slowdown, what really made matters worse was the minor fire that occurred in the Melting & Foundry Division of the factory on November 28, 2008 and it reopened on 1st Dec 2008. Operations were partially affected and though the company has adequate insurance cover, the loss on account of production was higher.

A low priced stock, there does not seem to be any reason for any immediate spurt which one can expect in the stock price. Does not enjoy any investor following too. thanks

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