IFB Industries’ Q4FY18 sales grew by ~24% yoy to Rs541.9cr. EBITDA increased 3.8x to Rs37.7cr as compared to Rs9.9cr in Q4FY17. Other income increased by 86% yoy to Rs7.8cr. Net profit after tax increased to Rs19.8cr in Q4FY18 vs Rs1.9cr in Q4FY17. The net profit attributable to shareholders was Rs20.4cr vs 3.1cr in Q4FY17.
Raw material cost as a proportion to sales has declined from 58.4% in Q4FY17 to 54.2% in Q4FY18. Employee cost too declined proportionately. Strong sales, decline in cost and low base in Q4FY17 led to strong EBITDA growth.
Strong operating performance and other income increase led to ten-fold jump in net profit in Q4FY18.
Home appliances segment sales grew at a lower rate by 10.5% yoy to Rs423.4cr. EBIT margin in the segment improved to 5.2% in Q4FY18 vs 0.9% in Q4FY17.
Engineering segment sales were up by 29% yoy to Rs106.8cr and EBIT margin for the segment improved from 5.4% in Q4FY17 to 11.8% in Q4FY18.
Others’ segment sales were up by 50.6% yoy to Rs21.0cr, while the company reported a loss of Rs1.3cr at the EBIT level.
IFB Industries Ltd is currently trading at Rs1,325, down by 46.5 points or 3.39% from its previous closing of Rs1,371.50 on the BSE. The scrip opened at Rs1,358.55 and has touched a high and low of Rs1,385.90 and Rs1,309.30 respectively. So far 48,643 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 100 DMA.
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