Solar Industries India Ltd Q2FY17
Consolidated Results Q2FY17: (Rs. in crore)
|EBITDA Margin (%)||18.7|||
|Net Profit (adjusted)||36.93||0.2|
Solar Industries India Ltd.’s consolidated Q2FY17 result came in below Bloomberg estimates. Revenue stood 6% lower than the estimate of Rs 373.2 cr. EBITDA came in 5.5% lower than estimate of Rs 69.4 cr. Also, net profit was 5.1% lower than the estimated figure of Rs 38.9 cr.
Solar Industries witnessed a muted Q2FY17 performance. Company’s revenue dropped marginally by 1.6% yoy to Rs 350.88 cr.
EBITDA too declined by 5.6% you to Rs 65.55 cr led by 79 bps yoy fall in EBITDA margins to 18.7%. Company’s total expenses came in line with Q2FY16 numbers.
Net profit however, came in line with the corresponding quarter of the previous year at Rs 36.93 cr. Meanwhile, company posted other income of Rs 4.02 cr as against Rs 2.12 cr in the corresponding quarter of previous year. This was offset by increase in finance costs from Rs 5.87 cr to Rs 7.3 cr in Q2FY17.
Solar Industries India Ltd is currently trading at Rs. 660, down by 12.35 points or 1.84% from its previous closing of Rs. 672.35 on the BSE.
The scrip opened at Rs. 682.75 and has touched a high and low of Rs. 682.8 and Rs. 653.6 respectively. So far 13876(NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.
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