Dishman Carbogen Amcis Ltd's Q2FY19 consolidated net profit declines 9.1% yoy to Rs44.01cr : In-line with Estimates

The company’s consolidated revenue stood at Rs447.71cr, up 0.87% yoy but down 0.23% qoq.

Nov 01, 2018 01:11 IST India Infoline Research Team

Dishman Carbogen Amcis Ltd Q2FY19

Consolidated Results Q2FY19: (Rs. in cr)

Q2FY19 YoY (%)
Revenue 447.71 0.9
EBITDA 128.59 [3.3]
EBITDA Margin (%) 28.7 [124]
Net Profit (adjusted) 44.01 [9.1]
***EBITDA margin change is bps
Dishman Carbogen’s revenue in Q2FY19 grew by 0.9% yoy to Rs447.7cr. The flat revenue growth in Q2FY19 is due to the decline in its CRAMS revenue, which contributed 76% of its revenue during the quarter. EBITDA declined by 3.3% yoy to Rs128.6cr in Q2FY19 vs. Rs133cr in Q2FY18. EBITDA margins stood at 28.7% in Q2FY19 vs. 25.1% in Q1FY19 and 30% in Q2FY18. Margin improvement can be attributed to the decline in the material cost, however it should be noted that CRAMS segment revenue has dropped during this quarter, which has led to decline in the material cost. PAT declined 9.1% yoy to Rs44cr in Q2FY19 vs. Rs48.4cr in Q2FY18.
Other highlights 
  • The revenue from CRAMS segment declined by 2.7% yoy and 2.9% qoq to Rs327.5cr in Q2FY19.
  • Other revenue grew by 11.4% yoy but declined 5.8% qoq to Rs104.9cr in Q2FY19.
  • CRAMS segment contributed 76% of Q2FY19 revenue, while rest 24% came for the other segment.
  • CRAMS segment EBIT margins were at 17% in Q2FY19 vs. 15.4% in Q1FY19 and 18.3% in Q2FY18.
  • Gross margin during Q2FY19 grew by 247bps yoy due to the lower material costs.
  • Employee cost grew 5.2% yoy, while other expenses grew by 13.5% yoy.




Technical View:

Dishman Carbogen Amcis Ltd is currently trading at Rs. 233.80, up by 0.4 points or 0.17% from its previous closing of Rs. 233.40 on the BSE.
The scrip opened at Rs. 235 and has touched a high and low of Rs. 239.95 and Rs. 232 respectively. So far 71,070 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.

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