K P R Mill Ltd's Q2FY19 consolidated net profit rises 13.51% yoy to Rs83.43cr : In-line with Estimates

The company’s consolidated revenue stood at Rs764.18cr, up 2.87% yoy but down 15.14% qoq.

Oct 29, 2018 03:10 IST India Infoline Research Team

K P R Mill Ltd Q2FY19

Consolidated Results Q2FY19: (Rs. in cr)

Q2FY19 YoY (%)
Revenue 764.18 2.9
EBITDA 159.96 12.6
EBITDA Margin (%) 20.9 181
Net Profit (adjusted) 83.43 13.5
***EBITDA margin change is bps

KPR Mill Ltd’s revenue grew by 2.9% yoy and declined 15.1% qoq to Rs764cr. EBITDA came in at Rs160cr, up 12.6% yoy and 0.7% qoq. EBITDA margin expanded by 181bps yoy and 329bps qoq. Company’s adjusted Net profit stood at Rs83cr, up 13.5% yoy and 2.7% qoq. Adjusted Net profit came in-line with estimate Rs86cr. 

• Garment revenue was up by ~22% yoy to Rs235cr driving overall revenue growth. Further, garment production grew by ~7% yoy to 23.4mn garments.
• Revenue from Textile and Sugar segments stood at Rs709cr (up 6.6% yoy) and Rs33cr (down 39% yoy) respectively.
• Cost of goods sold stood at 56.9% of revenue vs. 61.9% yoy aiding in EBITDA margin expansion. 
• Depreciation and amortisation expenses declined by 5.4% yoy aiding in profitability growth.
• EBIT margin of textile segment stood at 18.6%, expanded by 281bps yoy. EBIT loss of Sugar business for the quarter stood at ~Rs6cr vs. profit of Rs0.4cr yoy.
• Finance cost declined by 17.1% to Rs11cr.

Technical View:

K P R Mill Ltd is currently trading at Rs. 610, up by 25.85 points or 4.43% from its previous closing of Rs. 584.15 on the BSE.
The scrip opened at Rs. 591.25 and has touched a high and low of Rs. 629 and Rs. 580 respectively. So far 1,47,026 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.

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