Bhansali Engineering Polymers Ltd's Q4FY18 standalone net profit rises 87.06% yoy to Rs28.60cr : In-line with estimates

The company’s standalone revenue stood at Rs301.79cr, up 56.5% yoy and 17% qoq.

Apr 13, 2018 04:04 IST India Infoline Research Team

Bhansali Engineering Polymers Ltd Q4FY18

Standalone Results Q4FY18: (Rs. in cr)

Q4FY18 YoY (%)
Revenue 301.79 56.5
EBITDA 43.77 93.9
EBITDA Margin (%) 14.5 279
Net Profit (adjusted) 28.60 87.1
***EBITDA margin change is bps


Reco. Price


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• The standalone revenue of the company for FY18 increased by ~50% yoy Rs1,058.8cr. However, the gross profit margin of the company declined by ~314bps yoy to 29.7%.
• The other expenses for FY18 increased by ~48% on account of:
(1) forex loss of ~Rs6.8cr on hugh fluctuations especially in Q4FY18
(2) write-off of debtors amounting to ~Rs8.6cr constituting 0.71% of gross annual turnover as the same is not recoverable despite legal actions against the defaulter.
• The board approved setting up of a 200KTPA greenfield ABS project of the company in Pipavav Port, Gujarat.
• The board recommended dividend at 30% of paid up equity share capital (30ps per share), subject to the shareholder’s approval in AGM.

Technical View:

Bhansali Engineering Polymers Ltd is currently trading at Rs. 207.20, down by 4.75 points or 2.24% from its previous closing of Rs. 211.95 on the BSE.
The scrip opened at Rs. 213.80 and has touched a high and low of Rs. 216.30 and Rs. 205 respectively. So far 18,37,906 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 100 DMA.

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