Monsanto India Ltd's revenue for the quarter came in at Rs156.85cr, up by 13.9% yoy. The operating profit stood at Rs54.56cr, which increased by 48.7% yoy. The EBITDA margin increased significantly by ~815bps yoy to 34.8% in Q4FY18, however, it declined by ~275bps qoq. The net profit after tax came in at Rs53.14cr for Q4FY18, up by 66.4% yoy. The revenue, operating profit and net profit were in-line with street estimates.
The gross profit margin of the company increased significantly by ~830bps yoy to 67.1% in Q4FY18. This is on account of likely rise in the final inventory leading to an inventory gain during the quarter.
Employee benefits expense and depreciation increased significantly by 21.5% and 104% yoy to Rs13.7cr and Rs5.14cr respectively.
The effective tax rate of the company for FY18 was at 4% as against 7% in FY17.
Board of directors recommended a final dividend of Rs15 per share, subject to shareholders’ approval in an annual general meeting.
Monsanto India Ltd is currently trading at Rs. 2,750, down by 39.75 points or 1.42% from its previous closing of Rs. 2,789.75 on the BSE. The scrip opened at Rs. 2,770 and has touched a high and low of Rs. 2,790 and Rs. 2,736.55 respectively. So far 3,927 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.
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