Monsanto India (BSE code 524084) is currently trading at Rs 1,469.00 (52 week high/low Rs 2,500.00/1,300.00). MIL was established in India in 1949 and has been partnering with Indian farmers for over four decades. It is a subsidiary of the Monsanto Company of the US, a leading agriculture company engaged in seeds and agricultural productivity. When we consider company’s ds for Q1FYO9, its topline stood at Rs 239.84 crore (Rs 178.03 crore) and showed YoY growth of 34.79,per cent. While the company’s bottomline for Q1FYO9, which stood at Rs 72.22 crore (Rs 57.79 crore), showed YoY growth of 24.97 per cent. For FY08, MIL’s topline stood at Rs 363.54 crore (Rs 309.22 crore), excluding the one time income from the profit on sale by the company of its sunflower business and profit on other investments.
The bottomline for the same period stood at Rs 100.17 crore, including the extraordinary profit of Rs 66.56 crore (Rs 70.53 crore, including extraordinary profit of Rs 31.39 crore). The company is also prudent in paying out dividend and in FY08 the company had an astonishing dividend yield of 13.03 per cent. Last year, the company in totality gave Rs 207 as dividend including the final dividend of P.s 15 and two interim dividends of P.s 12 and P.s 180. The company also has good investment in the debt mutual funds to the tune of P.s 255.14 crore. The company is currently available at a P/E of 12.77 of its FY08 earnings. Thus we would recommend you to stay invested in the scrip for a longer period to fetch decent returns.
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