Eveready Industries Q4FY16 standalone net profit declines 27% yoy to Rs.3.99 crore : Misses Estimates

The company’s standalone revenue stood at Rs. 283.25 crore, up 2.95% yoy but down 12.61% qoq.

May 06, 2016 3:06 IST | India Infoline News Service
Eveready Industries, manufacturers of batteries, flashlights and packet tea, reported standalone net profit of Rs.3.99 crore for the quarter ended March 31, 2016, registering decline of 26.75% yoy and 76.46% qoq. The company’s revenue stood at Rs. 283.25 crore, up 2.95% yoy but down 12.61% qoq.

Its standalone core operating profit of Rs. 9.62 crore for the quarter, declined by 36.54% yoy and 70.83% qoq. Operating profit margin for the current quarter at 3.4% contracted by 211 bps yoy and 677 bps qoq.

For the year ended March 31, 2016, the company reported standalone net profit of Rs. 54.54 crore, growing by 11.25% yoy. Its standalone revenue for the period stood at Rs. 1,323.30 crore, registering growth of 3.47% yoy.

Eveready Industries' core operating profit stood at Rs. 103.98 crore, recording decline of 2.99% yoy. Operating margin for the current period at 7.07% contracted by 131 bps yoy.

Result Highlights: (Rs. in crore)

Reported Results IIFL Estimates Variance (%)
Standalone Revenue 283.25 298.26 [5.03]
Standalone Net Profit 3.99 14.82 [73.08]

Bloomberg estimated the company’s standalone net profit at Rs. 14.10 crore.

Corporate Action: Eveready Industries India has recommended a Final Dividend of Re. 1/- per fully paid up equity share of Rs. 5/- each, for the year ended March 31, 2016, in addition to an Interim Dividend of Re. 1/- per share declared and paid during the financial year 2015-2016. The meeting of the Board of Directors commenced at 12.00 Noon and concluded at 1.45 p.m.

Stock Commentary:

Eveready Industries India Ltd is currently trading at Rs. 247.1, up by 8.05 points or 3.37% from its previous closing of Rs. 239.05 on the BSE.

The scrip opened at Rs. 239.6 and has touched a high and low of Rs. 257.05 and Rs. 230.8 respectively. So far 1766417(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1737.42 crore.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 374.9 on 17-Jul-2015 and a 52 week low of Rs. 192.3 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 253.9 and Rs. 237.6 respectively.

The promoters holding in the company stood at 44.01 % while Institutions and Non-Institutions held 31.21 % and 24.78 % respectively.

The stock is currently trading below its 200 DMA.

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