Birla Corp reported good set of numbers for Q4FY18 with revenue (net of excise duty in the base quarter) growth of 16.2% yoy to Rs1,650.6cr. Due to higher raw material and freight cost, EBITDA grew at 6.3% yoy to Rs250.7cr. EBITDA margin contracted by 142bps yoy to 15.2%. On account of tax reversal, the PAT of the company reported a growth of 30% yoy to Rs131.1cr.
The segmental reported numbers are not comparable due to excise duty in the base quarter. On reported basis, cement and jute segments reported revenue growth of 1.5% and 5.1% yoy respectively.
Raw material cost for the quarter increased by 269bps yoy as percent of net sales.
Due to rise in diesel prices, the freight cost as percent of sales increased by 113bps yoy.
Depreciation cost was up by 4.8% yoy to Rs83.6cr. However, the interest expense declined by 8.4% yoy.
Other income for the quarter was 17.9% lower on yoy basis to Rs33.4cr.
Company has tax reversal of Rs33.1cr, which aided the PAT growth of 30% yoy to Rs131.1cr.
Company recommended dividend of Rs6.5 per share (i.e. 65%) for FY18.
Birla Corporation Ltd is currently trading at Rs. 691.50, down by 11.2 points or 1.59% from its previous closing of Rs. 702.70 on the BSE.
The scrip opened at Rs. 697 and has touched a high and low of Rs. 706.25 and Rs. 689 respectively. So far 48,780 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.
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