Nandan Denim Ltd's Q2FY17 standalone net profit rises 4.49% yoy to Rs.16.30 crore : Misses Estimates

India Infoline Research Team | November 15, 2016 11:52 IST

Nandan Denim Ltd Q2FY17

Standalone Results Q2FY17: (Rs. in crore)

Q2FY17 YoY (%)
Revenue 302.60 2.6
EDITDA 49 [3.5]
EBITDA Margin (%) 16.2 [103]
Net Profit (adjusted) 16.30 4.5
***EBITDA margin change is bps

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.



Technical View:

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 116.45 [0.75] ([0.64]%)
NSE 116.00 [0.30] ([0.26]%)

***Note: This is a NSE Chart

 

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