Its standalone core operating profit of Rs. 190.75 crore for the quarter, clocked growth of 8.68% yoy but decline of 16.56% qoq. Operating profit margin for the current quarter at 16.31% contracted by 14 bps yoy and 235 bps qoq.
For the year ended March 31, 2016, the company reported standalone net profit of Rs. 489.44 crore, growing by 19.13% yoy. Its standalone revenue for the period stood at Rs. 4,690.67 crore, registering growth of 11.38% yoy.
Amara Raja Batteries Ltd's core operating profit stood at Rs. 819.86 crore, recording growth of 16.82% yoy. Operating margin for the current period at 17.24% expanded by 58 bps yoy.
Amara Raja Batteries (Q4 FY16) -Weak performance:
For Q4 FY16, Amara Raja reported a revenue of Rs1,170cr, which was lower than IIFL estimate of Rs1,241cr. Revenues for the quarter were higher by 9.3% yoy and lower by 4.5% qoq. The company for the quarter reported an OPM of 16.3%, which was substantially lower than IIFL estimate of 18.2%. Margins were at lowest level since Q4 FY14. Operating profit for the quarter was higher by 1.6% yoy but was lower by 16.6% qoq, while OPM was lower by 124bps yoy and 235bps qoq. For Q4 FY16, Amara Raja reported a PAT of Rs109cr, which was lower than our estimate of Rs136cr. PAT for the quarter were higher by 6.2% yoy and lower by 20.3% qoq.
Result Highlights: (Rs. in crore)
|Reported Results||IIFL Estimates||Variance (%)|
|Standalone Net Profit||108.60||136||[20.15]|
Standalone EPS for the quarter stood at Rs. 6.36.
Bloomberg estimated the company’s standalone net profit at Rs. 134.77 crore.
Amara Raja Batteries Ltd is currently trading at Rs. 858.05, down by 36.4 points or 4.07% from its previous closing of Rs. 894.45 on the BSE.
The scrip opened at Rs. 860 and has touched a high and low of Rs. 869.9 and Rs. 845.25 respectively. So far 136238(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 15277.21 crore.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1132 on 25-Aug-2015 and a 52 week low of Rs. 773.05 on 18-Jan-2016. Last one week high and low of the scrip stood at Rs. 965.1 and Rs. 880 respectively.
The promoters holding in the company stood at 52.06 % while Institutions and Non-Institutions held 29.16 % and 18.78 % respectively.
The stock is currently trading above its 50 DMA.