Bombay Dyeing & Manufacturing Company Ltd's Q2FY19 standalone net profit rises to Rs252cr vs. Rs23cr yoy

The company’s standalone revenue stood at Rs833cr, up 20.6% yoy and 109.5% qoq.

Nov 13, 2018 10:11 IST India Infoline Research Team

Bombay Dyeing & Manufacturing Company Ltd Q2FY19

Standalone Results Q2FY19: (Rs. in cr)

Q2FY19 YoY (%)
Revenue 832.62 20.6
EBITDA 357.63 231.2
EBITDA Margin (%) 43 2,731
Net Profit (adjusted) 251.85 985.6
***EBITDA margin change is bps

Bombay Dyeing & Manufacturing Company Ltd’s revenue grew by 20.6% yoy and 109.5% qoq to Rs833cr. EBITDA came in at Rs358cr vs. Rs108cr yoy and Rs7cr qoq. EBITDA margin expanded to 43% vs. 15.64% yoy and 1.76% qoq. Company’s adjusted Net profit stood at Rs252cr vs. adjusted Net profit of Rs23cr yoy and adjusted Net loss of Rs94cr qoq.

• Revenue for its Textile/Retail segment grew by 13.1% yoy to Rs68cr. Real Estate segment grew by 10.8% yoy to Rs356cr.
• Revenue from Polyester division grew by 32.4% yoy Rs408cr, driving overall revenue growth.
• Cost of goods sold stood at 35.3% of revenue vs. 39.6% yoy aiding in EBITDA margin expansion.
• Other expenses stood at 19.2% of sales vs. 41.5% yoy, which aided in the profitability growth of the company.
• EBIT margin of Real Estate segment stood at 95.6% vs. 45.8% yoy. However, EBIT margins of Polyester and Textile/Retail segment contracted by 173bps and 25bps yoy to 3.8% and 4.9% respectively

Technical View:

Bombay Dyeing & Manufacturing Company Ltd ended at Rs. 122.60, up by 3.55 points or 2.98% from its previous closing of Rs. 119.05 on the BSE.
The scrip opened at Rs. 118.50 and touched a high and low of Rs. 125 and Rs. 113.10 respectively. A total of 35,84,614 (NSE+BSE) shares were traded on the counter. The stock traded above its 200 DMA.

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