Lakshmi Machine Works Ltd's Q2FY19 standalone net profit rises 35.91% yoy to Rs62.83cr: Beats Estimates

The company’s standalone revenue in the period stood at Rs771.97cr, up 34.72% yoy and 21.38% qoq.

Oct 22, 2018 07:10 IST India Infoline Research Team

Lakshmi Machine Works Ltd Q2FY19

Standalone Results Q2FY19: (in Rs cr)

Q2FY19 YoY (%)
Revenue 771.97 34.7
EBITDA 90.33 43.0
EBITDA Margin (%) 11.7 68
Net Profit (adjusted) 62.83 35.9
***EBITDA margin change is bps

Lakshmi Machine Works Ltd’s revenue grew 34.7% yoy and 21.4% qoq to Rs772cr in Q2FY19. EBITDA came in at Rs90cr, up 43% yoy and 58.8% qoq. EBITDA margin expanded 68bps yoy and 276bps qoq to 11.70%. Adjusted PAT stood at Rs63cr, up 35.9% yoy and 20.6% qoq. Revenue and adjusted PAT were above the estimates of Rs682cr and Rs54cr, respectively.

• Revenue from textile machinery division grew 27.5% yoy to Rs581cr.
• Revenue from machinery tool and foundry division grew 54.7% yoy to Rs210cr.
• Cost of goods sold stood at 61.19% of sales vs 61.70% yoy, aided in EBITDA margin expansion.
• Employee benefit expenses stood at 9.8% of sales vs 10.74% yoy.
• Other expenses stood at 17.3% of sales vs 16.5% yoy.

Technical View:

Lakshmi Machine Works Ltd ended at Rs6,138.70, up 83.6 points, or 1.38%, from its previous close of Rs6,055.10 on the BSE. The scrip opened at Rs6,188 and touched a high and low of Rs6,250 and Rs6,109, respectively. A total of 11,508 (NSE+BSE) shares were traded on the counter. The stock traded above its 200-DMA.

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