Q3FY11 analysis: Lupin, ONGC

Lupin’s results were a tad disappointing; ONGC was in line—realisations are improving, but limited by the subsidy burden


  • Net sales were at the lower end of expectations and net profit at the higher end.
  • Staff costs and other expenditure rose sharply. However, other income and a lower tax rate helped net profit growth.
  • Export formulations to unregulated markets were up 31% at Rs1.1 billion.
  • The company has filed five abbreviated new drug applications during the quarter and remains one of the largest filers from India. It also has one of biggest pending ANDA pipelines among Indian pharma companies.

Lupin Q3 FY11 Result Highlights

(Rs million)

Dec 09

Sept 10

Dec 10

Net sales




Net profit




 Lupin’s share has been falling over the last month or so.


  • Both net profit and net sales were higher than expected.
  • Natural gas sales were up nicely due to upward revision in APM gas prices.
  • Subsidy burden was up 21%.
  • Since dry well write-offs and survey expenses were lower this quarter, chances are they will be higher next quarter.
  • A sharp rise in subsidy burden limited the rise in realisations.
  • Domestic crude volumes were up after declining for 10 out of 12 quarters.

ONGC Q3 FY11 Result Highlights

(Rs million)

Dec 09

Sept 10

Dec 10

Net sales




Net profit




 ONGC’s share price has been falling over the last three months but is seen to be picking up of late.

This article is based on secondary research. The report is for information only. None of the stock information, data and company information presented herein constitutes a recommendation or solicitation of any offer to buy or sell any securities. Investors must do their own research and due diligence before acting on any security. Some of the opinions expressed in this article are the author's own and may not necessarily represent those of Moneylife


LIC unveils new variable insurance plans

LIC launches Bima Account I and Bima Account II

LIC has launched two non linked plans Bima Account I and Bima Account II. These are the first variable insurance plans under the new IRDA regime. The basic structure of the two plans are same and hence the similar names. The plans have guaranteed minimum returns. In Bima Account I there is no medical examination!

Under the plans, the premiums paid by the customer, after deduction of charges, will be credited to the policy holder's account maintained separately for each policyholder. If all due premiums are paid, the amount held in the policyholder's account will earn an annual interest rate of 6% per annum which will be guaranteed for the whole of the policy term. In addition to this guaranteed return, if all due premiums are paid, the individual policyholder's account may earn an additional return depending upon the experience under the plan.

If premiums are not paid within days of grace, the policy will become a paid up policy. The life assured has the option to revive the paid-up policy within 12 months from date of first unpaid premium. During the revival period the life cover will cease and no mortality charges shall be deducted. The balance in the policyholder's Account during the period of revival will earn guaranteed interest rate of 5% per annum without debiting any expenses. On revival of policy, the guaranteed rate of interest on policyholder's account will again be 6% per annum from the date of revival.

There is an option to pay additional (top up) premiums without any increase in risk cover to the extent of total basic premiums paid under the policy. Loan facility is available immediately after the first policy anniversary.

The premiums can be paid regularly at yearly, half-yearly, quarterly or monthly (through ECS mode only) intervals over the term of the policy.

The age entry for the Bima Account I is from 11 years to 50 years while it is from 8 years to 60 years for Bima Account II. The policy term for Bima Account I ranges from 5 to 7 years, while it ranges from 10 to 15 years for Bima Account II.

The minimum premium is Rs600 per month under ECS mode for Bima Account I. while it is Rs1,250 under Bima Account II.




6 years ago

i like it................

Dhanlaxmi Bank hikes term deposit rates by up to 50 bps

Dhanlaxmi Bank offers interest rate of 9.35% p.a. for 500 days deposits; 9.85% p.a. for senior citizens

Dhanlaxmi Bank has increased its domestic term deposit rates by 25 to 50 basis points. The new rates will be effective from 3 February 2011 are applicable for term deposits of Rs15 lakh and above and up to and inclusive of Rs1 crore.

To strengthen the retail liability base, the bank has bifurcated the card rate slab into two- for term deposits less than Rs15 lakh and for term deposits of Rs15 lakh and above and up to and inclusive of Rs1 crore. Earlier, the bank offered maturities for deposits up to and including Rs50 lakh.

The recently introduced medium term maturity of 500 days will continue to be offered at a peak interest rate of 9.35% p.a., an increase of 35 bps. Senior citizens will be offered peak rate of 9.85% p.a.

Interest rate on medium term deposits with maturity period between 91-179 days has been increased by 25 bps to 7.50% p.a. Rates for deposits with a tenor of between 180-365 days has been increased by 50 bps to 8.50% p.a.

Rates for short term deposits between 7-14 days, 15-45 days and 46-90 days have been kept unchanged at 3.50%, 5.00%, 6.00% respectively.

Interest rates for long term maturities of 366-499 days, 501 days & above up to and inclusive of 2 years and for the bucket of above 2 years up to and inclusive of 5 years too have been kept unchanged at 8.60%, 8.60% and 8.75% respectively.

Senior citizens will be eligible for an additional rate of 0.50% p.a. for tenures starting from 180 days and above, as before.


We are listening!

Solve the equation and enter in the Captcha field.

To continue

Sign Up or Sign In


To continue

Sign Up or Sign In



The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)