Gujarat Mineral Development Corporation Ltd's Q4FY18 standalone net profit rises 11.1% yoy to Rs100cr : Beats Estimates

The company’s standalone revenue stood at Rs635cr, up 16.75% yoy and 25.48% qoq.

May 09, 2018 03:05 IST India Infoline Research Team

Gujarat Mineral Development Corporation Ltd Q4FY18

Standalone Results Q4FY18: (Rs. in cr)

Q4FY18 YoY (%)
Revenue 635 16.7
EBITDA 134.65 [9.3]
EBITDA Margin (%) 21.2 [610]
Net Profit (adjusted) 100 11.1
***EBITDA margin change is bps
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Buy

Reco. Price

135.2

Last updated on

07-May-2018



GMDC beat consensus estimates on both revenue and net profit fronts by significant margins in Q4FY18. Revenue grew by 16.7%  yoy to Rs635cr (expectation Rs506cr). EBITDA stood at Rs134.7cr, down 9.3% yoy against estimates of Rs152.8cr. EBIDTA margin declined by 610bps yoy to 21.2%. Net Profit stood at Rs100cr, up 11.1% yoy (expectation of Rs79cr).
  • Segmental revenue for the quarter stood at Rs107cr for the power segment and Rs560cr for the mining segment.
  • Segmental EBIT for the quarter stood at Rs61.3cr for the power segment and Rs109.7cr for the mining segment.
  • EBITDA margins shrank by ~610bps due to higher employee costs for the quarter owing to implementation of the salary hikes (7th pay commission). Employee costs rose by Rs40.3cr qoq to 13.8% of revenue in Q4FY18 against 9.3% in Q3FY18.
  • The Board of directors have also declared a dividend of Rs3.5 per share, implying a dividend yield of 2.6% based on current market price.

Technical View:

Gujarat Mineral Development Corporation Ltd is currently trading at Rs. 136, down by 1.7 points or 1.23% from its previous closing of Rs. 137.70 on the BSE.
The scrip opened at Rs. 139.70 and has touched a high and low of Rs. 142 and Rs. 136 respectively. So far 8,81,167 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 200 DMA.

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