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Arvind's Q4FY16 consolidated net profit jumps over two fold yoy to Rs.110.33 crore : Beats Estimates

The company’s consolidated revenue stood at Rs. 2,319.56 crore, up 13.68% yoy and 7.51% qoq.

May 12, 2016 2:05 IST | India Infoline News Service
Arvind Limited
Arvind, textile manufacturer, reported consolidated net profit of Rs. 110.33 crore for the quarter ended March 31, 2016, registering growth of 128.76% yoy and 6.81% qoq. The company’s revenue stood at Rs. 2,319.56 crore, up 13.68% yoy and 7.51% qoq.

Its consolidated core operating profit of Rs. 296.71 crore for the quarter, clocked growth of 16.34% yoy and 5.78% qoq. Operating profit margin for the current quarter at 12.79% expanded by 29 bps yoy but contracted by 21 bps qoq.

For the year ended March 31, 2016, the company reported consolidated net profit of Rs. 362.70 crore, growing by 6.33% yoy. Its consolidated revenue for the period stood at Rs. 8,450.41 crore, registering growth of 7.63% yoy.

Arvind Ltd's core operating profit stood at Rs. 1,065.14 crore, recording growth of 5.16% yoy. Operating margin for the current period at 12.64% contracted by 15 bps yoy.

On standalone basis,Arvind Ltd, reported standalone net profit of Rs.73 crore for the quarter ended March 31, 2016, registering growth of 7.75% yoy, but decline of 15.93% qoq. The company’s revenue stood at Rs. 1,415.82 crore, up 4.95% yoy and 5.32% qoq.

Its standalone core operating profit of Rs. 190.91 crore for the quarter, declined by 8.23% yoy and 7.91% qoq. Operating profit margin for the current quarter at 13.48% contracted by 194 bps yoy and 194 bps qoq.

For the year ended March 31, 2016, the company reported standalone net profit of Rs. 318.85 crore, declining by 15.52% yoy. Its standalone revenue for the period stood at Rs. 5,407.26 crore, registering growth of 3.49% yoy.

Arvind Ltd's core operating profit stood at Rs. 808.36 crore, recording decline of 2.28% yoy. Operating margin for the current period at 14.65% contracted by 118 bps yoy.

Result Highlights: (Rs. in crore)

Reported Results IIFL Estimates Variance (%)
Consolidated Revenue 2319.56 2199 5.48
Consolidated Net Profit 110.33 88.6 24.53

Consolidated EPS for the quarter stood at Rs. 4.28.

Bloomberg estimated the company’s consolidated net profit at Rs. 100.72 crore.

Corporate Action: Arvind's Board of Directors has recommended a dividend at the rate of 24% i.e. Rs. 2.40 per equity share of Rs.10 each of the Company for the year ended on March 31, 2016 subject to approval of the shareholders in the next Annual General Meeting. The Board of Directors have also approved issue of Non-Convertible Debentures (NCDs) upto Rs.500 crores on Private Placement Basis to meet with general corporate purposes including capital expenditure, augmenting long term working capital and refinance of existing loans

Stock Commentary:

Arvind Ltd is currently trading at Rs. 297.15, up by 2.25 points or 0.76% from its previous closing of Rs. 294.9 on the BSE.

The scrip opened at Rs. 298 and has touched a high and low of Rs. 303.4 and Rs. 295.2 respectively. So far 4849791(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 7615.59 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 365.5 on 06-Jan-2016 and a 52 week low of Rs. 216.2 on 16-Jun-2015. Last one week high and low of the scrip stood at Rs. 300.3 and Rs. 272.6 respectively.

The promoters holding in the company stood at 43.78 % while Institutions and Non-Institutions held 38.98 % and 17.24 % respectively.



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