(522005)

Austin Engineering Company

INDIA Edition buysellsignals.com | 1 MONTH PRICE VOLUME 3Mo
Friday, July 20, 2012

5Yr

Austin Engineering Company decreases 2.0% on low volume, ending a three-day streak of rises
Austin Engineering Company Ltd., India's 53rd largest industrial machinery company by market capitalisation, decreased Rs1.45 (or 2.0%) to close at Rs72.55, ending a three-day streak of rises. Compared with the BSE Sensex index, which fell 120.4 points (or 0.7%) on the day, this was a relative price change of -1.3%. The volume was 0.3 times average trading of 2,073 shares.

PERCENT R

Shares Outstanding: 3,478,000 Market Cap: Rs25.2 crores (US$4.6 million) Closing Price: Rs72.55

L-T Rating: 4 out of 5

Price/Sales Price/NTA Yield % ROA ROE % Disc to High % Prem to Low 0.3x 0.6x 3.4 7.9 14 18.4 18.6 REL STRENGTH (6M) PEMAP50 30-DAY PRICE (%) 5-DAY PRICE (%) 3-MONTH PRICE(%)

S-T Rating: 2 out of 5

71 1.04 7.01 1.04 2.9 883 -1.96 -14.6

Present Value Rs1000 (1 year) 1-DAY PRICE (%) 1-YEAR PRICE(%)

CONTENTS

1 Company overview 2 Shareholder returns 3 Stock analysis and ratings

4 Technical analysis 5 Sector ranking 6 News and events

7 Glossary

A publication of:

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FRIDAY, JULY 20, 2012

Company Overview
Activities
Austin Engineering Company Limited (AEC) is the Manufacturer, Exporter and Supplier of Quality Auto & Industrial Ball & Roller Bearings and its components. Further details can be found at www.aec-bearings.com.

UNFAVOURABLE CHANGES
Net profit down 2.3% to Rs6.4 crores ($US1.4m) Total liabilities to total assets up 4.9% to 0.4 Current ratio down 15.1% to 2.5 Working capital to total assets down 4.4% to 49.2%.

MAJOR COMMON SIZE RATIOS

Total current assets to total assets up from 77.6% to 81.4% Current inventory to total assets up from 37.6% to 45.5% Current debtors to total assets up from 21.1% to 22.4% Total non-current assets to total assets down from 22.4% to 18.6% Fixed assets to total assets down from 22.0% to 18.2% Profit after tax to sales down from 9.5% to 6.5% Depreciation to sales down from 2.6% to 1.9% Interest expenses to sales down from 1.5% to 0.9%.

VOLUME WEIGHTED PRICE

Issued Capital
Based on 3,478,000 issued equity shares the market capitalisation is Rs25.2 crores (US$4.6 million). It is India's 45th largest Industrial Machinery company by assets.

RELATIVE STRENGTH

TOP 1 SHAREHOLDERS Name of Shareholder

Float

No. of Shares(m)
2 2

% Held
65.45 65.45

Total TOP 1 SHAREHOLDERS

Top Management
The chairman is N C Vadgama.

Financials
ANNUAL REPORT FOR THE YEAR ENDED MARCH 31, 2011
year-on-year comparisons with previous corresponding period

FAVOURABLE CHANGES
Total revenue up 42.4% to Rs97.8 crores ($US21.9m) A 5-year track record of positive earnings Total revenue to total assets up 20.9% to 1.2.
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FRIDAY, JULY 20, 2012

Company Overview Cont.

Shareholder Returns
TRAILING ONE WEEK
The stock rose three times (60% of the time), was unchanged once (20% of the time) and fell once (20% of the time). The volume was 1.2 times average trading of 10,365 shares. The value of Rs1,000 invested a week ago is Rs1,031 [vs Rs997 for the BSE Sensex index], for a capital gain of Rs31(or rise of 3.1%).

SHAREHOLDER RETURNS(PV RS1000)

5Yr

TRAILING ONE MONTH

The stock rose eleven times (50% of the time), fell nine times (41% of the time), was unchanged once (5% of the time) and was untraded once (5% of the time). The volume was 0.98 times average trading of 45,606 shares. The value of Rs1,000 invested a month ago is Rs1,070 [vs Rs1,016 for the BSE Sensex index], for a capital gain of Rs70(or rise of 7.0%).

TRAILING ONE YEAR

The value of Rs1,000 invested one year ago is Rs883 [vs Rs946 for the BSE Sensex index], including a capital loss of Rs145 and dividend reinvested of Rs28. The total return to shareholders for 1 year is -11.7%.

TRAILING FIVE YEARS

The value of Rs1,000 invested five years ago is Rs724, including a capital loss of Rs360 and dividend reinvested of Rs84.

PRESENT VALUE RS1000

3Yr

5Yr

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FRIDAY, JULY 20, 2012

Analysis & Rating (Long-Term & Short-Term)

Long-Term Rating (Fundamentals): 4 out of 5
Austin Engineering Company is ranked number 54 out of 89 listed industrial machinery companies [that traded today] in India with a market capitalization of Rs25.2 crores (US$4.6 million).
In the industrial machinery companies it has the 45th highest total assets and 41st highest revenues. Within its sector it has a relatively low P/S of 0.3. It has a moderate relative ROE of 14% and ROA of 7.9%. The dividend yield is moderate at 3.4%. Stocks are scored on a set of parameters reflecting fundamental analytical tools involving valuation, size and financial performance. They are ranked according to the average values of those parameters. The highest rating is 5 and the lowest rating is 1.

Relative Valuation Indicators - RVI Fundamental Analysis

THE STOCK MEETS THE FOLLOWING VALUE CRITERIA SET BY BENJAMIN GRAHAM:
"Current ratio of two or more"; current assets are 2.53 times current liabilities.

OTHER BULLISH SIGNALS:

Price/Sales of 0.26 versus sector average of 1.4 and market average of 1.2. We estimate the shares are trading at a current year Price/Sales of 0.2 and a forward year Price/Sales of 0.2. The Price to Book of 0.6 lower than average of 2.8 for the Industrial Machinery sector and 2.1 for the Total Indian Market. We estimate the shares are trading at a current year Price to Book of 0.5 and a forward year Price to Book of 0.4. Dividend Yield of 3.4% (based on trailing 12 months dividends of Rs2.50) versus sector average of 2.0% and market average of 1.5%. The company paid out a dividend of Rs2.50 in the past 12 months. The 10-year bond yield is currently 8.08%. The company is cash rich with Cash to Market Capitalisation at 20.6%. The Q Ratio, defined by James Tobin as MCap divided by Total Assets, is 0.3. Compared with the rest of the market the stock is undervalued.

BEARISH SIGNALS:
Return on Equity of 14.0% versus sector average of 16.8% and market average of 6.2%. Return on Assets of 7.9% versus sector average of 8.9% and market average of 3.2%. The average annual compound return on the share price in the last 5 years was -6.2%, underperforming the average annual compound return on the BSE Sensex index of 4.3%

THE STOCK HAS A SCORE OF MERELY 3 OUT OF 9 SET BY JOSEPH PIOTROSKI [PASS MARK >=5 ]:
Positive net income; Positive operating cashflow; Improvement in asset turnover [growth in revenue of 22.39% exceeded growth in assets of 17.81%].

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FRIDAY, JULY 20, 2012

Analysis & Rating (Long-Term & Short-Term) Cont.

Short-Term Rating (Technical): 2 out of 5
Significantly its price of Rs72.55 is at a premium of 3% to its 200-day moving average price of Rs70.37. Its 52-week range has been Rs88.85 to Rs61.20; it is trading at a discount of 18.4 % to its 52-week high and a premium of 18.6 % to its 52week low. Rs1,000 invested exactly one year ago is now worth Rs883 of which Rs145 is a capital loss and Rs28 is dividends. Recommended stop loss: Rs67.11 Stocks are scored on a set of technical parameters reflecting price performance and trading volumes. They are ranked according to the average values of those parameters. The highest rating is 5 and the lowest rating is 1.

Relative Valuation Indicators - RVI Technical Analysis

BULLISH SIGNALS:- THE PRICE ROSE 1.0% IN THE LAST WEEK.
This has been propped up by firm volume of 1.2 times average for the week. Compared with the BSE Sensex index which rose 1.6% for the month, this represented a relative price increase of 5.5% for the month. In the Indian market of 2,716 stocks traded today, the stock has a 6-month relative strength of 71 indicating it has outperformed 71% of the market. The price to 50-day EMAP ratio is 1.04, a bullish indicator. In the past 50 days this ratio has exceeded 1.04 just twice suggesting a resistance level.The 50-day EMAP has increased to Rs70.04. An increase is another bullish indicator. The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 71.7 minus the 26-day EMA of 70.8 is positive suggesting a bullish signal. Both the 12-day EMA as well as the 26-day EMA are rising, another bullish signal. The price to 200-day MAP ratio is 1.03, a bullish indicator. In the past 200 days this ratio has exceeded 1.03 16 times suggesting further upside. The stock is trading above both its MAPs at Rs70.37 for the 200-day MAP and Rs69.38 for the 50-day MAP, another bullish indicator.

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FRIDAY, JULY 20, 2012

Technical Analysis
Price Volume Dynamics
VOLATILITY
The stock traded between an intraday high of Rs73.70 and a two-day low of Rs72.20, suggesting a trading opportunity between peaks and troughs. The average daily volatility of 3.6% places the stock in the 4th quartile in the market meaning it is least volatile.

BETA
The Beta of this stock is 0.58. A Beta lower than 1 suggests this is a low risk, low return stock with volatility less than that of the market.

STANDARD DEVIATION (SD)

SD is a statistical measure of deviation from the mean. The SD of 2.4% gives it a percentile rank of 19 meaning that 19% of stocks in the Indian market are less volatile than this stock.

VOLUME
There were 711 shares worth Rs51,590 (US$933.8) traded.

TRAILING MONTH
In the last 14 trading sessions there has been a net rise of 3.64%; the stock has advanced eleven times and the biggest one day rise was 3.2% on Jun 29.

% DISCOUNT TO HIGH
The last price is at a discount of 18.4% to the 12-month high of Rs88.85 on 20 Jul, 2011.

% PREMIUM TO LOW
The last price is at a premium of 18.6% to the 12-month low of Rs61.20 on 21 Dec, 2011.

ONE-YEAR PRICE HIGH, CLOSE AND LOW PRICE

5Yr

% DISCOUNT TO HIGH AND % PREMIUM TO LOW

VOLUME WEIGHTED PRICE (VWP)

The price is at a premium of 2.6% to the 1-month volume weighted average price of Rs70.68. Given that this premium has been under 2.6% ninety-seven times and over 2.6% fortythree times in the last year, the downside:upside probability is estimated at 97:43 or 2.3:1.

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FRIDAY, JULY 20, 2012

Sector Ranking
Price Performance Rank
The stock is in 2 sectors. Total Indian Market Avg

Size
Market Cap Rs 2,249.7 crores 25.2 crores 1774 241,992 crores ONGC 239,368.1 crores TCS 236,389.8 crores RELIANCE 32.4 lakhs 504180

THE FOLLOWING INDEX AND SECTOR FELL SETTING THE TREND FOR ITS FALL OF 2.0%:
BSE Sensex index which was down 120.4 points or 0.7% to 17,158.4, Industrial Machinery sector of 76 stocks traded today, which was down 120.7 points or 0.5% to 23,691.7 The stock went against the trend set by the Total Indian Market of 2716 stocks traded today, which was up 92.4 points or 0.6% to 14,813.

522005 Rank Rank 1 Rank 2 Rank 3 Lowest Rank

Stock Ranking by Percentage Price Change, versus Index and Sectors for 1 day and 6 months

Total Rank of Rank of Number of Stock Stock Stocks in 6 1 Day Months Sector/Inde x
Industrial Machinery sector Total Indian Market 60 2029 21 752 87 3430

Performance
ROA (%) Total Indian Market Avg 522005 Rank 3.2 7.9 622 Yield (%) 1.5 3.4 422 17.96 AVTNPL 187.5 532470 186.6 521167 15.4 531169 14.9 KANORICHEM 0.03 MMTC

BuySellSignals Sector Valuation Table

TOTAL INDIAN MARKET Fundamental Valuation
Price/Net Tangible Assets Total Indian Market Avg 522005 Rank Rank 1 Rank 2 Rank 3 Lowest Rank 2.1x 0.6x 783 0.1x CLASSIC 0.1x LCCINFOTEC 0.1x SHREERAMA Discount to 52-Wk High (%) 12.4 18.4 2269 99.2 531611 98.97 531693 98.4 531855 0.02 505525 Premium to 52-Wk Low (%) 18.6 18.6 814 0.1 531212 0.1 532124 0.1 521174 3356.5 530967

Rank 1 Rank 2 Rank 3 Lowest Rank

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FRIDAY, JULY 20, 2012

Sector Ranking Count

Technicals Price Volume Dynamics
PV Rs1,000 (1 Yr) Total Indian Market Avg 522005 Rank Rank 1 919.2 Rel Strength (6m) 61.6 PEMAP50 1-Day Price (%) 0.6 5-Day Price (%) -0.5 30-Day Price (%) 3.4 3-Month Price (%) -2.4 1-Year Price (%) -9.6 30-Day Momentu Avg m Volatility 2.4 -

883.0 1046 36,264.6 530967 17,163.5 531900 10,582.3 531893

71.02 752 99.96 RMMIL 99.9 505525 99.9 508969

1.04x 674 1.6x 530111 1.6x 517356 1.6x 531686

-1.96 2029 19.96 531686 11.1 532467 10.9 524742 -15.98 526407

1.04 763 44.6 531686 38.9 532022 31.96 531731

7.01 914

2.9 793

-14.5 1059

2.7 2249 29.8 BIRLACO T 26.98 ANTGRAP HIC 20.6 530621 DBCORP 0.4 THOMAS COOK 1867

522209

Rank 2

526347

Rank 3

Lowest Rank

-1,970.8 0.04 0.5x INVENTU SURYAPH NCOPPER RE ARM

531083

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FRIDAY, JULY 20, 2012

Financial Results
Year-on-year Comparisons

ANNUAL REPORT: AUSTIN ENGINEERING COMPANY (BSE:522005) NET PROFIT DOWN 2.3% TO RS6.4 CRORES ($US1.4M)
Summary

GENERAL INFORMATION
Company Name Company ISIN Company CODE Industry 2011-03-31 Native Currency INR Austin Engineering Company Ltd. INE759F01012 522005 Industrial Machinery sector 2010-03-31 INR

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FRIDAY, JULY 20, 2012

Financial Results Cont.

INCOME STATEMENT
Currency in INR INCOME Sales (Gross) Less : Excise Duty recovered on Sales 862,449,360 28,278,994 834,170,366 Other Income 40,157,961 115,396,819 874,328,327 Increase (Decrease) in Finished Goods.Semi Finished Goods and Trade Goods. EXPENDITURE Manufacturing and other exp. Purchase of Trade Goods Interest Depreciation 721,498,615 116,252,158 8,607,662 18,801,248 865,159,683 Profit before Exceptional Item MTM Losses on derivative Contracts for ineffective hedge Profit after Exceptional Item Provision for taxation Current Tax Deferred Tax Profit after tax Prior period Expenses 26,483,516 -3,238,452 63,772,438 775,773 62,996,665 Balance brought forward from last year AMOUNT AVALIABLE FOR APPROPRIATION Appropriations: Proposed Dividend Proposed Dividend no more required due to Buy Back of Shares including Tax on Proposed D Provision for Tax 1,410,465 on Proposed Dividend Transfer to General Reserve Balance Carried to Balance Sheet 8,000,000 290,584,780 8,694,500 5,216,700 -56,245 866,429 8,000,000 245,693,080 Up 62.8 Steady Up 18.3 Up 66.7 245,693,080 308,689,745 22,000,000 -937,015 65,240,936 1,018,289 64,222,647 195,497,317 259,719,964 Up 20.4 Deterioration 245.6 Down 2.3 Down 23.8 Down 1.9 Up 25.7 Up 18.9 84,407,502 -2,610,000 87,017,502 490,107,070 89,995,662 10,277,336 18,175,471 608,555,539 58,713,921 -27,590,000 86,303,921 Up 47.2 Up 29.2 Down 16.2 Up 3.4 Up 42.2 Up 43.8 Reduced 90.5 Up 0.8 75,238,858 949,567,185 704,675,767 19,374,295 685,301,472 16,206,452 -18,032,012 701,507,924 -34,238,464 667,269,460 Up 22.4 Up 46.0 Up 21.7 Up 147.8 Recovery Up 24.6 Recovery Up 42.3 2011-03-31 2010-03-31 Change %

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FRIDAY, JULY 20, 2012

Financial Results Cont.

BALANCE SHEET
Currency in INR SOURCESOF FUNDS SHAREHOLDERS' FUNDS Capital Reserves & Surplus 34,778,000 419,725,067 454,503,067 LOAN FUNDS Secured Loans Deferred Tax Liabilities (Net) 86,398,134 4,026,892 90,425,026 TOTAL : APPLICATION OF FUNDS Fixed Assets Gross Block Less : Depreciation 365,997,607 220,048,964 145,948,643 Add. Capital Work In Progress 1,052,717 147,001,360 Investments 2,704,656 149,706,016 CURRENT ASSETS, LOANS & ADVANCES Inventories Sundry debtors Cash & Bank Balances Loans & Advances 365,041,707 179,681,170 52,083,504 56,553,768 653,360,149 Less : CURRENT LIABILITIES & PROVISIONS Liabilities Provisions 205,385,739 52,752,333 258,138,072 NETCURRENTASSETS TOTAL : 395,222,077 544,928,093 133,946,220 43,789,818 177,736,038 351,038,743 503,918,585 Up 53.3 Up 20.5 Up 45.2 Up 12.6 Up 8.1 256,595,879 144,102,062 75,217,709 52,859,131 528,774,781 Up 42.3 Up 24.7 Down 30.8 Up 7.0 Up 23.6 150,175,186 2,704,656 152,879,842 Down 2.1 Steady Down 2.1 352,414,649 202,239,463 150,175,186 Up 3.9 Up 8.8 Down 2.8 544,928,093 93,064,494 7,265,344 100,329,838 503,918,585 Down 7.2 Down 44.6 Down 9.9 Up 8.1 34,778,000 368,810,747 403,588,747 Steady Up 13.8 Up 12.6 2011-03-31 2010-03-31 Change %

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FRIDAY, JULY 20, 2012

Financial Results Cont.

CASH FLOW
Currency in INR Net Profit before tax and Extraordinary Items : Adjustments for: Depreciation Interest Paid MTM Losses on derivative contracts for ineffective hedge Profit on sale of Assets/shares Interest/Dividend Income Income Tax Expenses Increase(decrease) in Foreign Exchange transaction reserve 18,801,000 8,608,000 -2,610,000 -45,000 -610,000 -776,000 -1,977,000 21,391,000 Operating Profit before working capital changes Adjustments for : Trade and other receivables Inventories Trade payables Cash generated from operations Direct taxes paid NET CASH FROM OPERATING ACTIVITIES: CASH FLOW FROM INVESTING ACTIVITIES : Proceeds from Issue of Share Capital (Buy back of shares) Purchase of Fixed Assets Purchase of Investments Sale of Fixed Assets Sale of Investments Interest/Dividend Received Net Cash used in investing activities CASH FLOW FROM FINANCING ACTIVITIES: Proceeds of Long Term Borrowings Dividend Paid Dividend Tax paid Interest paid Net Cash used in financial activities Net increase in cash and cash equivalents (A+B+C) Cash and Cash equivalents (Opening Balance) Less : Cash and cash equivalents (Closing Balance) -6,666,000 -5,217,000 -866,000 -8,608,000 -21,357,000 -23,134,000 75,218,000 52,084,000 -23,134,000 -42,382,000 -5,219,000 -887,000 -10,277,000 -58,765,000 46,409,000 28,809,000 75,218,000 46,409,000 Reduced 84.3 Reduced 0.0 Reduced 2.4 Reduced 16.2 Reduced 63.7 Deterioration Up 161.1 Down 30.8 Deterioration 610,000 -14,972,000 748,000 -8,864,000 Down 18.4 Deterioration 68.9 436,000 -16,018,000 -1,969,000 -7,643,000 Deterioration 109.6 -39,274,000 -108,446,000 77,573,000 38,261,000 -25,066,000 13,195,000 25,812,000 38,591,000 -10,526,000 138,902,000 -24,864,000 114,038,000 Deterioration Deterioration Recovery Down 72.5 Deterioration 0.8 Down 88.4 108,408,000 -748,000 -1,018,000 -375,000 -1,279,000 85,025,000 Reduced 18.4 Reduced 23.8 Deterioration 427.2 Recovery Up 27.5 18,175,000 10,277,000 -27,590,000 Up 3.4 Down 16.2 Reduced 90.5 2011-03-31 87,018,000 2010-03-31 86,304,000 Change % Up 0.8

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FRIDAY, JULY 20, 2012

Financial Results Cont.

EBITDA AND MARGINS
2011-03-31 Net Income Margin % 6.52 2010-03-31 9.5

PERFORMANCE RATIOS
2011-03-31 Return on Assets (%) Total Liabilities to Operating Cash Flow Total Liabilities/Total Assets Current Ratio 7.94 26.42 0.43 2.53 2010-03-31 9.57 2.44 0.41 2.98 Up 6.4 Down 14.9 Change % Down 17.0

USD Conversion at balance date of March 31,2011 Export in XLS

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FRIDAY, JULY 20, 2012

News and Events

Company Announcements:Recent Headlines and Snippets
THE LAST 10 SNIPPETS WERE:

January 22, 2009: Austin Engineering Company Ltd buyback of shares

Trading members are hereby informed that Austin Engineering Company Ltd. (522005) has announced buyback of its fully paid-up equity shares of face value of Rs.10/- each from the Open Market through electronic trading mechanism of the Exchange. The Maximum Buyback Price would not exceed Rs.65/- (Rupees sixty Five only) per equity share payable in cash for an aggregate amount not exceeding Rs.2,92,50,000/- . Date of Opening of the Buyback on BOLT : January 27, 2009 Last date for the Buyback : January 07, 2010 (i.e. 12 months from the date of the board resolution).

May 29, 2012: Austin Engineering Company announces AGM

Austin Engineering Company has announced its Annual General Meeting will take place on September 22, 2012. Open Full Announcement.

January 18, 2012: Austin Engineering Company: Financial Results for Dec 31, 2011
[News Story] Austin Engineering Company Ltd has informed BSE about the Financial Results for the period ended December 31, 2011. http://www.bseindia.com/xmldata/corpfiling/AttachLive/Austin_Engineering_Company_Ltd _180118_Rst.pdfSource: Bombay Stock Exchange of India Open Full Announcement.

January 09, 2009: Austin Engineering buyback of equity shares

Company has informed BSE that the Board of Directors of the Company at its meeting held on January 08, 2009, inter alia, has decided to buy-back maximum 4,50,000 Equity shares at price not exceeding Rs 65/- per share for an aggregating amount not exceeding Rs 2,92,50,000 and acquisition of minimum 50000 Equity shares.

September 07, 2011: Austin Engineering Company recommends dividend

Austin Engineering Company today announced a final dividend of Rs2.50 per share. The ex dividend date is September 13, 2011.

May 29, 2008: Austin Engineering Recommends Dividend

Company has informed BSE that the Board of Directors of the Company at its meeting held on May 29, 2008, inter alia, has recommended Dividend of Rs 2.20 Per Equity Share for the year ended March 31, 2008, subject to approval of Annual General Meeting of the Company.

October 21, 2010: Austin Engineering Company: Financial results for Sep 30, 2010
[Company Release] Austin Engineering Company Ltd has informed BSE about the Financial Results for the Quarter ended September 30, 2010.http://www.bseindia.com/xmldata/corpfiling/announcement/Austin_Engineering_Company _Ltd_211010_Rst.pdfSource: Bombay Stock Exchange of India Open Full Announcement.

September 13, 2010: Austin Engineering Company recommends dividend

Austin Engineering Company today announced a final dividend of Rs1.50 per share. The ex dividend date is September 13, 2010. Open Full Announcement.

June 23, 2009: Austin Engineering recommends dividend

Company has informed BSE that the Board of Directors of the Company at its meeting held on June 23, 2009, inter alia, has recommended Dividend Rs 1.50 Per Equity Share for the year ended March 31, 2009, subject to approval of Annual General Meeting.

April 13, 2009: Austin Engineering FY 09 results by Jun 30, 2009

Company has informed BSE that the Company will be publishing Audited results of the Company for Financial year ended March 31, 2009 within Three Months from the end of the financial year and the Unaudited Financial Results for the last quarter of the accounting year ended on March 31, 2009 will not published.

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FRIDAY, JULY 20, 2012

Glossary
DEBT/EQUITY
Net Debt/Net Assets (times) Dividends received during the Period

TOTAL PROFIT (LOSS) OVER N YEARS (3/2/1)

Capitla Gain (Loss) plus Dividens received minus Original Investment

CURRENT RATIO
Current Assets/Current Liabiliites (times)

INTEREST COVER
Earnings Before Interest and Tax/Interest (times)

TOTAL LIABILITIES/TOTAL ASSETS

Total Liabilities/Total Assets

EARNINGS YIELD ACTUAL

Earnings Per Share/Share Price (%)

FREE CASH FLOW PER SHARE

Earnings Before Interest, Tax, Depreciation and Amortisation Minus Capex/Per Share

EBIT MARGIN
Earnings Before Interest and Tax/Revenue (%)

CAPITAL GAIN/LOSS FROM N YEARS AGO TO N-1 YEARS AGO

Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)

RETURN ON ASSETS
Net Profit/Total Assets (%)

ANNUAL RETURN
Dividends Paid In a 12-Month Period/Price at the Beginning of the Period + Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)

PRICE/EARNINGS
Share Price/Earnings Per Share (times)

PRICE/SALES PS
Share Price/Sales Per Share (times)

BANKS COST-TO-INCOME RATIO OR EFFICIENCY RATIO

Total Non-Interest Expense/Total Income (Net Interest Income + Non-Interest Income)

PRICE/NTA
Closing Share Price/Net Tangible Assets Per Share (times)

BANKS NON-INTEREST INCOME TO TOTAL INCOME

Non-Interest Income (Loan fees etc)/Total Income (Net Interest Income + Non-Interest Income)

CASH/MCAP
Cash plus Liquids/Market Capitalisation (times)

VOLUME INDEX
Number of shares traded in the period/Average number of shares traded for the period

BANKS TIER 1 RATIO

Tier 1 Capital (Ending Equity - Intangibles etc)/Total Tangible Assets

MOVING AVERAGE PRICE (N PERIODS)

Sum of Prices for each Period/Number of Periods

BANKS TIER 2 RATIO

Tier 2 Capital (Tier 1 - Subordinated Debt + Unrealised Gains/Loan Losses)/Total Tangible Assets

PRICE CLOSE/MOVING AV PRICE

Latest Price/Moving Average Price

NET INTEREST MARGIN

Net Interest Income/Average of all Earning Assets

DIVIDEND YIELD
Dividend Per Share/Share Price (%)

RETURN ON EQUITY (SHAREHOLDERS' FUNDS)

Net Profit/Net Assets (%)

DIVIDEND % FRANKED (A)

Dividend Per Share Franked/Dividend Per Share (%)

DIVIDEND PAYOUT RATIO

Dividend Per Share/Earnings Per Share (%)

CAPITAL PROFIT (LOSS) N YEARS AGO (3/2/1)

Value of Current Investment minus Value of Original Investment

INCOME DURING THE N YEARS (3/2/1)

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Austin Engineering Company ( 522005 ) | Page 15

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BST MOMENTUM COLOUR GUIDE Momentum Up Weak Momentum Up Momentum Down Weak Momentum Down Strong Unchanged Weak Unchanged Untraded

Price increase fuelled by above average Volume Price increase on below average Volume Price decrease fuelled by above average Volume Price decrease on below average Volume Price unchanged on above average Volume Price unchanged on below average Volume Untraded

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