Bajaj Corp Ltd's Q2FY17 standalone net profit rises 23.4% yoy to Rs.58 crore : Estimates Mixed

India Infoline Research Team | October 14, 2016 13:08 IST

Bajaj Corp Ltd Q2FY17

Standalone Results Q2FY17: (Rs. in crore)

Q2FY17 YoY (%)
Revenue 197 3.7
EDITDA 67 3.1
EBITDA Margin (%) 34 [20]
Net Profit (adjusted) 58 23.4
***EBITDA margin change is bps

Bajaj Corp misses revenue estimates but manages to be in line with PAT estimates.

Bajaj Corp revenues grew 3.7% yoy to Rs 197 Cr led by leadership in Almond oil segment and improved traction in skin care range.

The EBITDA of Rs 67 Cr was supported by ~18% decline in raw material cost. However, ~30% higher employee costs and ~42% higher ad spends had an overall negative impact on EBITDA margin. Thereby, we saw a 20 bps yoy decline in EBITDA margin to 34%.

The other income jumped ~91% yoy to Rs 15 Cr in 2QFY17.

Net profit grew 23.4% yoy to Rs 58 Cr driven by other income despite slow revenue and operational growth.

Technical View:

Bajaj Corp Ltd is currently trading at Rs. 402.5, up by 2.05 points or 0.51% from its previous closing of Rs. 400.45 on the BSE.
The scrip opened at Rs. 406.8 and has touched a high and low of Rs. 415 and Rs. 398 respectively. So far 548668(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.

BSE 402.90 [1.40] ([0.35]%)
NSE 402.05 [2.10] ([0.52]%)

***Note: This is a NSE Chart



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