Top 5 Turnaround Small-Cap Companies For Q2FY14

There are many companies in India Inc. that have seen their bottomline turning into green in the recently concluded quarter of September 2013 after reporting losses in the corresponding quarter of the previous fiscal. Here, we take a look at Small-Cap companies (market cap between Rs 100 crore to Rs 250 crore) which have seen a reversal in their fortunes.

Gokaldas Exports: Gokaldas Exports is engaged in the business of manufacturing  and exporting readymade garments. The company operates in single business segment manufacture and sale of garments. It specialises in outerwear, blazers and pants (formals and casuals), shorts and shirts etc. for men, women and children.

In Q2FY14, the company witnessed a turnaround, posting a profit of Rs 1.8 crore as against a loss of Rs 34.16 crore reported during the same quarter last fiscal. The market capitalisation of the company stands at Rs 214.88 crore.

Meghmani Organics: Meghmani Organics is in the business of manufacturing, selling, distributing and trading pigments and agrochemicals. It offers pigment products, including pigment green, as well as copper phthalocynine blue, alpha blue and beta blue pigments. The company also provides agrochemical products in the categories of pesticide intermediates, technical grade pesticides and pesticide formulations used in crop protection, public health, termite and insect control and veterinary applications.

Meghmani Organics had posted a loss in Q2FY14 to the tune of Rs 4.55 crore, but turned around strongly in Q2FY14 to report a profit of Rs 7.85 crore. Its market capitalisation stands at Rs 201.15 crore.

Nitesh Estates: Nitesh Estates is an Indian real estate development company. It is developing a hospitality project in Bengaluru and a residential and an office project in Kochi. The company is also developing its first hospitality project, the first `Ritz-Carlton' brand hotel in India, on Residency Road in the central business district of Bengaluru. In addition, it is in the process of diversifying into the development of shopping malls and is expanding its geographic reach to Chennai and Goa.

Nitesh Estates posted a profit of Rs 7.51 crore for Q2FY14 as against a loss of Rs 9.38 crore reported during Q2FY13. The latest market capitalisation of the company stands at Rs 196 crore.

Ahluwalia Contracts (India): Ahluwalia Contracts (India) operates in only one segment, i.e. construction activities. It is engaged in the business of construction and infrastructure development. The company constructs malls, hospitals, educational institutes, commercial complexes, corporate office complexes, super luxury hotels and multi-storey residential complexes.

After posting a loss of Rs 24.38 crore for Q2FY13, the company has posted a profit of Rs 1.15 crore in the recently concluded quarter. Its market capitalisation stands at Rs 194.21 crore.

Phoenix Lamps: Phoenix Lamps is a manufacturer and supplier of compact fluorescent lamps for general lighting, luminaries, LED applications and halogen lamps for the automotives sector.

The company has posted a profit of Rs 43.25 crore in Q2FY14 as against a loss of Rs 13.15 crore reported during Q2FY13. Its market capitalisation stands at Rs 187.73 crore.