Everest Industries

Lackluster quarter

May 02, 2019 10:05 IST capital market

For the quarter ended Mar 19 net sales of Everest Industries stood at Rs 367.35 crore, up by 8% on YoY basis. OPM of the company stood at 6.6% down by 120 bps resulting in a 8% fall in OP to Rs 24.30 crore for Mar 19 quarter. Other income was lower by 44% to Rs 1.70 crore. Interest costs were lower by 49% to Rs 1.48 crore. Depreciation was lower by 37% to Rs 3.70 crore. Thus, PBT for Mar 19 quarter stood at Rs 20.82 crore flat on YoY. After providing total tax of Rs 6.13 crore, up by 566% YoY, PAT for Mar 19 quarter stood at Rs 14.69 crore down by 26% YoY.

Sales from Building Product segment which account for 64% of total sales stood at Rs 236.11 crore up by 10% YoY. PBIT stood at Rs 24.30 crore down by 10% and accounted for 88% of total PBIT with PBIT margin at 10.3%. Sale from Steel building segment which account for 36% of total sales stood at Rs 131.24 crore. PBIT stood at Rs 3.2 crore down by 14% YoY with PBIT margin at 2.4%.

Performance for 12 months ended Mar 19

Net sales for 12 months ended Mar 19 stood at Rs 1404.14 crore up by 13% YoY. OPM of the company stood at 7.6% thus resulting in a 16% increase in OP to Rs 106.62 crore. Other income was lower by 12% to Rs 6.45 crore. Interest cost was lower by 39% to Rs 7.62 crore and depreciation was lower by 13% to Rs 20.55 crore. Thus PBT before EO stood at Rs 84.90 crore as compared to Rs 62.76 crore. There was an EO expense of Rs 1.65 crore pertaining to write off of expenditure incurred for establishing subsidiary in Middle East market as compared to Nil for 12 months ended Mar 19. Thus PBT after EO stood at Rs 84.90 crore up by 39% YoY. After providing for total tax of Rs 20.7 crore up by 98% YoY, PAT for 12 months ended Mar 19 stood at Rs 64.20 crore up by 27% YoY.

For 12 months ended Mar 19, Building product segment sales which account for 64% of total sales stood at Rs 908.01 crore. PBIT stood at Rs 121.73 crore, up by 18% YoY with PBIT margin at 13.4%. For 12 months ended Mar 19, Steel building segment which accounted for 36% of total sales stood at Rs 496.13 crore. PBIT stood at Rs 10.93 crore up by 51% YoY.

The board has recommended final dividend of Rs 7.5 per equity share of face value of Rs 10 each for FY 19

Everest Industries: Results

1903(03) 1803(03) Var. (%) 1903 (12) 1803 (12) Var. (%)
Sales 367.35 341.27 8 1404.14 1244.85 13
OPM (%) 6.6 7.8 7.6 7.4
OP 24.30 26.54 -8 106.62 91.54 16
Other inc. 1.70 3.02 -44 6.45 7.36 -12
PBIDT 26.00 29.56 -12 113.07 98.90 14
Interest 1.48 2.92 -49 7.62 12.59 -39
PBDT 24.52 26.64 -8 105.45 86.31 22
Dep. 3.70 5.90 -37 20.55 23.55 -13
PBT 20.82 20.74 0 84.90 62.76 35
EO 0.00 0.00 0 0.00 1.65 --
PBT after EO 20.82 20.74 0 84.90 61.11 39
Total Tax 6.13 0.92 566 20.70 10.43 98
PAT 14.69 19.82 -26 64.20 50.68 27
EPS (Rs) * # # 41.0 32.4
*Annualised on current equity of Rs 15.64 crore of face value of Rs 10 each
#EPS not annualised due to seasonality of business, PL: Profit to Loss, LP: Loss
to Profit
Var (%) exceeding 999 is restricted to 999
Figures in crore, Source: Capitaline Database

Everest Industries : Segment Results

1903(03) 1803(03) Var. % % to Total 1903 (12) 1803 (12) Var. %
Building Products 236.11 215.07 10 64 908.01 821.25
Steel Building 131.24 126.2 4 36 496.13 449.99
Total 367.35 341.27 8 100 1404.14 1271.24
Segment Result
Building Products 24.30 27.13 -10 88 121.73 103.34 18
Steel Building 3.2 3.74 -14 12 10.93 7.24 51
Total 27.50 30.87 -11 100 132.66 110.58 20
Less: Interest 1.48 2.92 -49 7.62 12.59 -39
Other Unallocable Items 5.20 7.21 -28 40.14 36.88 9
PBT 20.82 20.74 0 84.90 61.11 39
Figures In Rs Crore, Source: Capitaline Databases
PL: Profit to Loss, LP: Loss to Profit

Powered by Capital Market - Live News

Related Story