Automotive Axles Q4FY16 standalone net profit jumps over two folds yoy to Rs.10.87 crore : Beats Estimates

The company’s standalone revenue stood at Rs. 311.79 crore, up 21.89% yoy and 16.66% qoq.

May 10, 2016 4:56 IST | India Infoline News Service
Automotive Axles
Automotive Axles, joint venture of Kalyani Group and Meritor Inc., USA, reported standalone net profit of Rs. 10.87 crore for the quarter ended March 31, 2016, registering growth of 119.46% yoy and 31.82% qoq. The company’s revenue stood at Rs. 311.79 crore, up 21.89% yoy and 16.66% qoq.

Its standalone core operating profit of Rs. 28.52 crore for the quarter, clocked growth of 48.16% yoy and 17.93% qoq. Operating profit margin for the current quarter at 9.15% expanded by 162 bps yoy and 10 bps qoq.

For the year ended March 31, 2016, the company reported standalone net profit of Rs. 34.78 crore, growing by 229.98% yoy. Its standalone revenue for the period stood at Rs. 1,085.96 crore, registering growth of 135.49% yoy.

Automotive Axles Ltd's core operating profit stood at Rs. 95.77 crore, recording growth of 156.62% yoy. Operating margin for the current period at 8.89% expanded by 80 bps yoy.

Result Highlights: (Rs. in crore)

Reported Results IIFL Estimates Variance (%)
Standalone Revenue 311.79 293.89 6.09
Standalone Net Profit 10.87 8.22 32.30

Standalone EPS for the quarter stood at Rs. 7.19.

Bloomberg estimated the company’s standalone net profit at Rs. 15.40 crore.

Stock Commentary:

Automotive Axles Ltd ended at Rs. 628, up by 4 points or 0.64% from its previous closing of Rs. 624 on the BSE.

The scrip opened at Rs. 625 and touched a high and low of Rs. 649.75 and Rs. 609.75 respectively. A total of 7130(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 942.86 crore.

The BSE group 'B' stock of face value Rs. 10 touched a 52 week high of Rs. 827 on 05-Aug-2015 and a 52 week low of Rs. 510.25 on 11-Feb-2016. Last one week high and low of the scrip stood at Rs. 640 and Rs. 600.25 respectively.

The promoters holding in the company stood at 71.04 % while Institutions and Non-Institutions held 15.68 % and 13.28 % respectively.

The stock traded below its 200 DMA.

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