Brigade Enterprises Ltd's Q4FY18 consolidated net profit declines 75.64% yoy to Rs18.05cr : Misses Estimates

The company’s consolidated revenue stood at Rs433.54cr, down 21.71% yoy but up 2.27% qoq.

May 16, 2018 05:05 IST India Infoline Research Team

Brigade Enterprises Ltd Q4FY18

Consolidated Results Q4FY18: (Rs. in cr)

Q4FY18 YoY (%)
Revenue 433.54 [21.7]
EBITDA 134.78 [32.0]
EBITDA Margin (%) 31.1 [470]
Net Profit (adjusted) 18.05 [75.6]
***EBITDA margin change is bps


Reco. Price


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Brigade Enterprises Ltd’s (BEL) revenue for Q4FY18 from operations declined by 21.7% yoy to Rs433.54cr as against Rs553.74cr in Q4FY17, missing the consensus estimates of Rs529.9cr. The company’s EBITDA margin has contracted by 470bps yoy to 31.1% as against 35.8%. The EBITDA fell by 32% yoy to Rs134.78cr as against Rs198.17cr, falling short of the the consensus estimate of Rs186.1cr. The company’s reported PAT after tax, minority interest and share of associates dropped 75.6% yoy to Rs18.05cr. In the quarter, BEL incurred a one-time expense of Rs11.54cr towards stamp duty related to transferring its hospitality and other allied businesses to its wholly owned subsidiaries. Adjusting for the exceptional item , the consolidated PAT for the quarter stood at Rs27.3cr, which was sharply below consensus estimates of Rs59.5cr.

Technical View:

Brigade Enterprises Ltd is currently trading at Rs. 259.45, down by 2.35 points or 0.9% from its previous closing of Rs. 261.80 on the BSE.
The scrip opened at Rs. 257.50 and has touched a high and low of Rs. 265.90 and Rs. 255 respectively. So far 29,375 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.

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