Rashtriya Chemicals & Fertilizers Ltd's standalone adjusted net loss came in at Rs12.97cr for Q4FY18

The company’s standalone revenue stood at Rs1,970.93cr, down 11.08% yoy and 0.71% qoq.

May 28, 2018 11:05 IST India Infoline Research Team

Rashtriya Chemicals & Fertilizers Ltd Q4FY18

Standalone Results Q4FY18: (Rs. in cr)

Q4FY18 YoY (%)
Revenue 1,970.93 [11.1]
EBITDA 24.80 [77.4]
EBITDA Margin (%) 1.3 [369]
Net Loss (adjusted) 12.97 -
***EBITDA margin change is bps


Reco. Price


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Rashtriya Chemicals and Fertilizers Ltd's standalone revenue for Q4FY18 came in at Rs1,970.93cr, down by 11.1% yoy. The operating profit for the quarter came in at Rs24.80cr, down significantly by 77.4% yoy. The EBITDA margin contracted by ~369bps yoy to 1.3% in Q4FY18. The adjusted net loss after tax for Q4FY18 came in at Rs12.97cr as against net profit of Rs54.23cr in Q4FY17.

• Gross profit margin of the company for Q4FY18 increased by ~318bps yoy to 53.7% on account of likely improvement in product mix and price hikes on products. The EBITDA margin declined on account of lower sales volumes for the quarter.
• Finance cost increased significantly by 53.1% yoy to Rs26.08cr in Q4FY18.
• Power and Fuel cost for the company went up substantially by 16.3% yoy to Rs621.01cr in Q4FY18 resulting to lower net profit.
• Revenue from fertilizers segment decreased by 10.6% yoy to Rs1,725.07cr and segment EBIT was down by 92.6% yoy to Rs6.49cr, in Q4FY18. The EBIT margin declined substantially by ~417bps to 0.4% in Q4FY18.
• The industrial chemicals segment increased substantially in terms of revenue by 18.5% yoy to Rs231.85cr in Q4FY18. The segment EBIT increased by 8% to Rs9.85cr in Q4FY18. The EBIT margin stood at 4.2% for Q4FY18 as against 4.7% for Q4FY17.
• Exceptional items accounted by the company (FY18; not forming part of above net profit calculation) are:
o Net fair value gain of Rs107.94cr on account of valuation of development right certificate towards surrender of land.
o Past service cost of gratuity amounting to Rs108.06cr on account of increase in gratuity limits in-line with DPE guidelines for wage revision.
• Board of directors of the company recommended a dividend of Rs0.6 per share.

Technical View:

Rashtriya Chemicals & Fertilizers Ltd ended at Rs. 74.25, up by 4.25 points or 6.07% from its previous closing of Rs. 70 on the BSE.
The scrip opened at Rs. 71.35 and touched a high and low of Rs. 75.40 and Rs. 71.35 respectively. A total of 45,72,447 (NSE+BSE) shares were traded on the counter. The stock traded above its 200 DMA.

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