Jyothy Labs Q4FY16 consolidated net profit grows 31.6% yoy to Rs.35.61 crore : Estimates Mixed

India Infoline News Service | Mumbai | May 23, 2016 13:49 IST

The company’s consolidated revenue stood at Rs. 445.40 crore, up 11.08% yoy and 15.56% qoq.

Jyothy Laboratories , fastest growing consumer goods provider in India, reported consolidated net profit of Rs.35.61 crore for the quarter ended March 31, 2016, registering growth of 31.6% yoy, but decline of 8.67% qoq. The company’s revenue stood at Rs. 445.40 crore, up 11.08% yoy and 15.56% qoq.

Its consolidated core operating profit of Rs. 62.75 crore for the quarter, clocked growth of 51.97% yoy and 23.09% qoq. Operating profit margin for the current quarter at 14.09% expanded by 379 bps yoy and 86 bps qoq.

For the year ended March 31, 2016, the company reported consolidated net profit of Rs. 157.95 crore, growing by 30.41% yoy. Its consolidated revenue for the period stood at Rs. 1,646.56 crore, registering growth of 8.69% yoy.

Jyothy Laboratories Ltd's core operating profit stood at Rs. 220.09 crore, recording growth of 35.01% yoy. Operating margin for the current period at 13.52% expanded by 276 bps yoy.

On standalone basis,Jyothy Laboratories Ltd, reported standalone net profit of Rs. 38.73 crore for the quarter ended March 31, 2016, registering growth of 36.77% yoy and 0.1% qoq. The company’s revenue stood at Rs. 426.66 crore, up 11.38% yoy and 16.41% qoq.

Its standalone core operating profit of Rs. 62.82 crore for the quarter, clocked growth of 55.3% yoy and 26.02% qoq. Operating profit margin for the current quarter at 14.72% expanded by 416 bps yoy and 112 bps qoq.

For the year ended March 31, 2016, the company reported standalone net profit of Rs. 162.35 crore, growing by 13.7% yoy. Its standalone revenue for the period stood at Rs. 1,575.41 crore, registering growth of 9.57% yoy.

Jyothy Laboratories Ltd's core operating profit stood at Rs. 217.67 crore, recording growth of 31.54% yoy. Operating margin for the current period at 14.01% expanded by 250 bps yoy.

Jyothy Laboratories (Q4FY16)- Mixed Bag!

The company’s net sales grew by 11% to Rs. 445.40 crore for the quarter under review. This was on account of strong growth in home care segment. In segment wise break-up, Its soaps and detergent segment, which includes the Ujala, Pril and Margo brands, grew 10.12%, while the home care segment—with products such as Maxo mosquito repellent—grew 18.73% at Rs. 142.23 crore during the quarter under review as compared to Rs. 119.79 crore in the year-ago period. The company’s consolidated net profit declined by 32% yoy on account of higher tax outgo for the quarter at Rs. 19.16 crore for the quarter as compared to tax credit of Rs. 0.65 crore in the corresponding quarter of the previous year.

Result Highlights: (Rs. in crore)

Reported Results IIFL Estimates Variance (%)
Consolidated Revenue 445.40 425.6 4.65
Consolidated Net Profit 35.61 41 [13.15]

Consolidated EPS for the quarter stood at Rs. 1.97.

Bloomberg estimated the company’s consolidated net profit at Rs. 42.63 crore.

Corporate Action: Jyothy Laboratories' board of directors at its meeting held on May 23, 2016 has Recommended Final Dividend of Re 1.00 (Rupees One Only) per equity share of Re. 1/- each for the financial year ended March 31, 2016 which if approved by the shareholders at the ensuing Annual General Meeting will be paid/ dispatched on or before July 31, 2016.

Management Comments: “FY16 has been a good year for us. Our numbers for the year show a marked improvement with a significant gain in market share for power brands across categories,” said M.P. Ramachandran, chairman and managing director of Jyothy Laboratories in statement to the BSE.

Stock Commentary:

Jyothy Laboratories Ltd is currently trading at Rs. 304.45, down by 3.45 points or 1.12% from its previous closing of Rs. 307.9 on the BSE.

The scrip opened at Rs. 308 and has touched a high and low of Rs. 310 and Rs. 301.5 respectively. So far 119894(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 5576.67 crore.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 342 on 11-Aug-2015 and a 52 week low of Rs. 239.55 on 03-Jun-2015. Last one week high and low of the scrip stood at Rs. 329.4 and Rs. 305 respectively.

The promoters holding in the company stood at 66.74 % while Institutions and Non-Institutions held 23.79 % and 9.46 % respectively.

The stock is currently trading below its 200 DMA.



***Note: This is a NSE Chart

 

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