Rain Industries Ltd's Q2CY18 consolidated net profit rises 94.59% yoy to Rs294.80cr : Beats Estimates

The company’s consolidated revenue stood at Rs3,803.30cr, up 40% yoy.

Aug 15, 2018 02:08 IST India Infoline Research Team

Rain Industries Ltd Q2CY18

Consolidated Results Q2CY18: (Rs. in cr)

Q2CY18 YoY (%)
Revenue 3,803.30 40
Adj. EBITDA 685.20 46.5
EBITDA Margin (%) 18 80
Net Profit (adjusted) 294.80 94.6
***EBITDA margin change is bps

Rain Industries Ltd's Q2CY18 results beat the estimates. Revenue grew by 40% yoy to Rs3,803.3cr against Rs2,716.6cr in Q2CY17, beating the estimate (Rs3,580cr). Adjusted EBITDA for the quarter grew by 46.5% yoy to Rs685.2cr against Rs467.8cr. EBITDA margin grew by 80bps yoy to 18%. Net profit for the quarter grew by 94.6% yoy to Rs294.8cr against Rs151.5cr last year, beating the estimate (Rs288cr), due to improved operating performance.

• Carbon sales volumes during Q2CY18 were 747 thousand MT, an increase of ~8.9% compared to 686 thousand MT in Q2CY17. The increase is mainly due to higher sales volumes of calcined petroleum coke (CPC) by ~11.5% and other carbon products by ~8.9%.
• Advanced Materials sales volume was stable during Q2CY18 at 128 thousand MT, as compared to Q2CY17. During Q2CY18, sales volumes in engineered products increased by ~10.7%, which is offset by a decrease in sales volumes of petro chemical intermediates and resins by ~4.8% and ~3.7% respectively as compared to Q2CY17.
• Cement sales realizations decreased by ~18.8% during Q2CY18 as compared to Q2CY17, and it is partly offset by the increase in volumes by ~2.9%.

Technical View:

Rain Industries Ltd ended at Rs. 208.15, up by 9.9 points or 4.99% from its previous closing of Rs. 198.25 on the BSE.
The scrip opened at Rs. 205.95 and touched a high and low of Rs. 208.15 and Rs. 195.20 respectively. A total of 10,35,209 (NSE+BSE) shares were traded on the counter. The stock traded below its 200 DMA.

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