Chambal Fertilisers & Chemicals Ltd's Q4FY18 standalone net profit declines 18.25% yoy to Rs48.03cr : Misses Estimates

The company’s standalone revenue stood at Rs1,056.93cr, down 1.48% yoy and 54.64% qoq.

May 10, 2018 10:05 IST India Infoline Research Team

Chambal Fertilisers & Chemicals Ltd Q4FY18

Standalone Results Q4FY18: (Rs. in cr)

Q4FY18 YoY (%)
Revenue 1,056.93 [1.5]
EBITDA 74.86 [11.5]
EBITDA Margin (%) 7.1 [81]
Net Profit (adjusted) 48.03 [18.3]
***EBITDA margin change is bps


Reco. Price


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Chambal Fertilizers and Chemicals Ltd's revenue for Q4FY18 came in at Rs1,056.93cr, down marginally by 1.5% yoy. The operating profit decreased substantially by 11.5% yoy to Rs74.86cr in Q4FY18. The EBITDA margin declined by ~81bps yoy to 7.1% in Q4FY18. The adjusted net profit after tax (excluding discontinued operations) stood at Rs48.03cr, down by 18.3% yoy. The operating profits and net profits missed the street estimates by 26% and 25% respectively.

• Gross profit margin increased significantly by ~436bps yoy to 57.6% in Q4FY18 on account of likely higher levels of change in finished goods inventory.
• The sales volume declined for fertilisers segment by ~9% yoy to 4.66lakh MT in Q4FY18.
• The effective tax rate of the company increased significantly to 33.5% in FY18 as against 23.6% in FY17.
• Subsidy receipt from the government for FY18 amounted to Rs4,227.55cr for the regulated fertilisers business of the company. The total outstanding subsidy amount from the government as on March 31, 2018 amounts to Rs2,363.67cr.
• Total loan outstanding increased to Rs5,608.66cr as on March 31, 2018 as against Rs4,641.25cr as on March 31, 2017.
• Total expenditure (including provisions) on Gadepan-III Project till April 30, 2018 is Rs4,200.23cr.
• Board of directors declared dividend of Rs1.9 per equity share.

Technical View:

Chambal Fertilisers & Chemicals Ltd is currently trading at Rs. 181.45, up by 0.5 points or 0.28% from its previous closing of Rs. 180.95 on the BSE.
The scrip opened at Rs. 182.70 and has touched a high and low of Rs. 184.50 and Rs. 173 respectively. So far 38,82,499 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.

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