Bajaj Corp Ltd Q2FY17
Standalone Results Q2FY17: (Rs. in crore)
|EBITDA Margin (%)||34|||
|Net Profit (adjusted)||58||23.4|
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.
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 370.50 [1.75] ([0.47]%)
NSE 370.25 [0.65] ([0.18]%)
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