India Cements Ltd Q2FY17
Standalone Results Q2FY17: (Rs. in crore)
|EBITDA Margin (%)||17.6|||
|Net Profit (adjusted)||62||62.1|
India Cements’ Q2FY17 standalone numbers registered a beat on our estimates. Revenue came in 18.3% higher than the estimated Rs 1,111 cr. EBITDA was 10.2% above the estimated figure of Rs 210 cr. Also, the company reported a net profit that was 12.2% higher than our estimate of Rs 56 cr.
Standalone net revenue for the quarter rose 6.9% yoy to Rs 1,314 cr.
EBITDA for the period declined marginally (0.7%) yoy to Rs 231 cr with EBITDA margins contracting 135 bps to 17.6%. This was primarily due to cost of materials consumed rising 28% yoy.
However, the company reported strong performance at the bottom-line level. Net profit for the quarter rose 62.1% yoy to Rs 62 cr due to a 11.4% yoy decline in finance costs and effective tax rate dropping from 49% in Q2FY16 to 32% this quarter.
India Cements Ltd is currently trading at Rs. 116.3, down by 0.65 points or 0.56% from its previous closing of Rs. 116.95 on the BSE.
The scrip opened at Rs. 120.9 and has touched a high and low of Rs. 121 and Rs. 116.2 respectively. So far 3538310(NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.
BSE 111.05 [6.45] ([5.49]%)
NSE 110.95 [6.70] ([5.69]%)
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