Apar Industries Q3FY16 standalone net profit clocks 26 folds jump yoy to Rs. 68 crore : Estimates Mixed

The company’s standalone revenue stood at Rs. 1,186.21 crore, decreasing 8.67% yoy and 5.17% qoq

Jan 28, 2016 04:01 IST India Infoline News Service

Apar Industries
Apar Industries , manufacturer of Speciality Oils, reported standalone net profit of Rs. 68.02 crore for the quarter, jumping over 26 folds yoy and nearly three-folds qoq. The company’s standalone revenue stood at Rs. 1,186.21 crore, decreasing 8.67% yoy and 5.17% qoq.

Its standalone core operating profit of Rs. 82.02 crore for the quarter, clocked growth of 205.93% yoy and 30.58% qoq. Operating profit margin for the current quarter at 6.91% expanded by 485 bps yoy and 189 bps qoq.

For nine months ended December 31, 2015, the company reported standalone net profit of Rs. 120.10 crore, clocking three-folds jump yoy. Its standalone revenue for the period stood at Rs. 3,684.91 crore, registering marginal growth of 0.32% yoy.

Apar Industries' core operating profit stood at Rs. 264.87 crore, recording growth of 34.58% yoy. Operating margin for the current period at 7.18% expanded by 183 bps yoy.

Result Highlights: (Rs. in crore)

Reported Results IIFL Estimates Variance (%)
Standalone Revenue 1,186.21 1,290.30 [8.07]
Standalone Net Profit 68.02 25.60 165.70

Standalone EPS for the quarter stood at Rs. 17.67.

Bloomberg estimated the company’s standalone net profit at Rs. 17.83 crore.

Stock Commentary:

Apar Industries Ltd ended at Rs. 498, up by 15.5 points or 3.21% from its previous closing of Rs. 482.5 on the BSE.

The scrip opened at Rs. 490 and touched a high and low of Rs. 536.25 and Rs. 490 respectively. A total of 263354(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1857.47 crore.

The BSE group 'B' stock of face value Rs. 10 touched a 52 week high of Rs. 541.6 on 21-Dec-2015 and a 52 week low of Rs. 320.3 on 09-Jun-2015. Last one week high and low of the scrip stood at Rs. 488.75 and Rs. 441.75 respectively.

The promoters holding in the company stood at 62.46 % while Institutions and Non-Institutions held 15.29 % and 22.26 % respectively.

The stock traded below its 50 DMA.

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