Nandan Denim Ltd Q2FY17
Standalone Results Q2FY17: (Rs. in crore)
|EBITDA Margin (%)||16.2|||
|Net Profit (adjusted)||16.30||4.5|
Nandan Denim Ltd’s Q2FY17 consolidated numbers came in below Bloomberg estimates. Revenue was 5.5% down from our estimates of Rs 320.4 cr. Company’s net profit stood 1.8% below the estimates of Rs 17 cr.
Company’s net revenue stood at Rs 302.63 cr which grew 2.6% during the corresponding quarter of previous year.
EBITDA declined by 3.3% yoy to Rs 49 cr and EBITDA margins contracted 103 bps yoy to 16.2%. This was on account of 10.7% yoy increase in employee benefit expenses.
Company's net profit rose 4.5% yoy to Rs 16.3 cr. This was driven by 15.7% yoy drop in finance costs.
Nandan Denim Ltd is currently trading at Rs. 123.55, down by 6.7 points or 5.14% from its previous closing of Rs. 130.25 on the BSE.
The scrip opened at Rs. 131 and has touched a high and low of Rs. 131 and Rs. 120.9 respectively. So far 71259(NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.
BSE 118.75 [2.60] ([2.14]%)
NSE 118.45 [2.10] ([1.74]%)
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