Gujarat Mineral Development Corporation Ltd's Q1FY19 standalone net profit rises 30.7% yoy to Rs187cr: Beats Estimates

The company’s standalone revenue in the period stood at Rs645cr, up 10.6% yoy and 1.5% qoq

Aug 10, 2018 06:08 IST India Infoline Research Team

Gujarat Mineral Development Corporation Ltd Q1FY19

Standalone Results Q1FY19: (in Rs cr)

Q1FY19 YoY (%)
Revenue 644.80 10.6
EBITDA 254.66 38.9
EBITDA Margin (%) 39.5 805
Net Profit (adjusted) 186.75 30.7
***EBITDA margin change is bps

GMDC beat the consensus estimates for EBITDA and net profit by significant margins in Q1FY19. Revenue in the quarter grew 10.6% yoy to Rs645cr (expectation Rs661cr). EBITDA stood at Rs255cr, up 38.9% yoy against estimates of Rs204cr. EBIDTA margin rose 805bps yoy to 39.5%. Net profit stood at Rs187cr, up 30.7% yoy (expectation of Rs138cr).
  • Segmental revenue for the quarter stood at Rs128cr for the power segment (down 0.1% yoy) and Rs549cr for the mining segment (up 10.1% yoy).
  • Segmental EBIT for the quarter stood at Rs48.5cr for the power segment (up 105% yoy) and Rs196cr for the mining segment (up 40.5% yoy).
  • The significant expansion of EBITDA margins (by 806bps yoy) is likely due to:
    • Higher volumes and realizations for the power segment
    • Higher coal realizations due to low availability of domestic coal

Technical View:

Gujarat Mineral Development Corporation Ltd ended at Rs117.45, down 0.7 points, or 0.59%, from its previous close of Rs118.15 on the BSE. The scrip opened at Rs118.50 and touched a high and low of Rs119.95 and Rs115.30, respectively. A total of 1,69,161 (NSE+BSE) shares were traded on the counter. The stock traded below its 200 DMA.

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