Cox & Kings Ltd’s net revenue for Q4FY18 increased by ~15.4% yoy to Rs532cr as against Rs461cr in Q4FY17. The company’s EBITDA margin contracted by 191bps yoy to 18.1% as against 19.9%. The company’s adjusted EBITDA grew by 4.4% yoy to Rs96cr as against Rs92cr. The company reported net loss after minority interest and share of profits before exceptional items to Rs41cr as against profit of Rs1cr last year.
• Revenue growth was mainly driven by 12% yoy growth in Leisure India business despite competitive pressures continuing and GST implementation creating temporary roadblocks in the B2B segment.
• EBITDA growth was modest due to higher advertising, marketing and promotional expenses in the India travel business and higher costs in Meininger, as it increased management's bandwidth to support its expansion plans and also due to rapid setting up of new hotels.
• The board has recommended a dividend of Rs1 per share (i.e. 20% on face value of Rs5 each fully paid up) for FY18.
Cox & Kings Ltd is currently trading at Rs. 202.55, down by 13.95 points or 6.44% from its previous closing of Rs. 216.50 on the BSE.
The scrip opened at Rs. 207.90 and has touched a high and low of Rs. 211 and Rs. 199.25 respectively. So far 5,88,575 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.
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