KPR Mill Ltd's Q1FY19 consolidated net profit rises 11.19% yoy to Rs81.27cr: In line with Estimates

The company’s consolidated revenue in the period stood at Rs900.51cr, up 20.62% yoy and 9.75% qoq.

Jul 30, 2018 03:07 IST India Infoline Research Team

KPR Mill Ltd Q1FY19

Consolidated Results Q1FY19: (in Rs cr)

Q1FY19 YoY (%)
Revenue 900.51 20.6
EBITDA 158.88 4.9
EBITDA Margin (%) 17.6 [266]
Net Profit (adjusted) 81.27 11.2
***EBITDA margin change is bps

KPR Mill Ltd’s revenue in Q1FY19 grew 20.6% yoy and 9.7% qoq to Rs901cr. EBITDA came in at Rs159cr, up 4.9% yoy and 5.7% qoq. EBITDA margin contracted 266bps yoy and 68bps qoq. The company’s adjusted net profit in the period stood at Rs81cr, up 11.2% yoy as well as qoq. Adjusted net profit, meanwhile, was in-line with estimates at Rs84cr. 

• Garment revenue up 28.8% yoy to Rs326cr driving overall revenue growth. Further, garment production grew 26.5% yoy to 22.1mn garments.
• Revenue from textile and sugar segments stood at Rs789cr (up 24.8% yoy) and Rs89cr (up 7% yoy), respectively.
• Cost of goods sold stood at 63.9% of revenue vs 59.8% yoy impacting the EBITDA margin of the company. 
• Depreciation and amortization expenses declined 15.1% yoy aiding in net profit growth.
• During Q1FY19, a new subsidiary 'KPR Exports Plc' was incorporated at Ethiopia to establish an apparel manufacturing facility.
• The company is also preparing a roadmap to venture into the retail segment.

Technical View:

KPR Mill Ltd share price ended the day at Rs655, up Rs19.1, or 3%, from its previous close of Rs635.90 on the BSE.
The scrip opened at Rs640 and has touched a high and low of Rs664 and Rs631, respectively. A total of 3,19,956 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 200 DMA.

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