Siyaram Silk Mills Ltd's Q1FY19 standalone net profit declines 4.25% yoy to Rs9.91cr: Misses Estimates

The company’s standalone revenue in the period stood at Rs322.10cr, up 0.46% yoy but down 45.95% qoq.

Aug 14, 2018 12:08 IST India Infoline Research Team

Siyaram Silk Mills Ltd Q1FY19

Standalone Results Q1FY19: (in Rs cr)

Q1FY19 YoY (%)
Revenue 322.10 0.5
EBITDA 33.97 2.7
EBITDA Margin (%) 10.55 24
Net Profit (adjusted) 9.91 [4.3]
***EBITDA margin change is bps

Siyaram Silk Mills Ltd’s revenue grew by 0.5% yoy and declined by 45.9% qoq to Rs322cr. EBITDA came in at Rs34cr, up 2.7% yoy and down 65.3% qoq. EBITDA margin expanded by 24bps yoy and contracted by 589bps qoq to 10.55%. Adjusted PAT declined by 4.3% yoy and 79.4% qoq to Rs10cr. Adjusted PAT came below the estimate of Rs14cr.

• Cost of goods sold stood at 39.65% of sales vs 40.15% yoy.
• Processing and labor charges stood at 10.8% of sales vs 10.4%.
• Other expenses stood at 24.5% of sales vs 25.3% yoy.
• Finance cost grew 76.9% yoy to Rs11cr, which led to profitability decline.

Technical View:

Siyaram Silk Mills Ltd ended the day at Rs538, up 24.8 points, or 4.83%, from its previous close of Rs513.20 on the BSE. The scrip opened at Rs526.65 and touched a high and low of Rs539 and Rs516, respectively. A total of 7,400 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.

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