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Vardhman Textiles Q4FY16 consolidated net profit rises 46% yoy to Rs.159.44 crore : Misses Estimates

The company’s consolidated revenue stood at Rs. 1,702.68 crore, down 0.75% yoy and 1.03% qoq.

May 09, 2016 3:18 IST | India Infoline News Service
Vardhman Textiles, major integrated textile producer in India, reported consolidated net profit of Rs. 159.44 crore for the quarter ended March 31, 2016, registering growth of 45.91% yoy and 7.77% qoq. The company’s consolidated revenue stood at Rs. 1,702.68 crore, down 0.75% yoy and 1.03% qoq.

Its consolidated core operating profit of Rs. 382.37 crore for the quarter, clocked growth of 8.57% yoy and 8.96% qoq. Operating profit margin for the current quarter at 22.46% expanded by 193 bps yoy and 206 bps qoq.

For the year ended March 31, 2016, the company reported consolidated net profit of Rs. 578.65 crore, growing by 44.59% yoy. Its consolidated revenue for the period stood at Rs. 6,723.27 crore, registering decline of 3.29% yoy.

Vardhman Textiles' core operating profit stood at Rs. 1,401.81 crore, recording growth of 9.17% yoy. Operating margin for the current period at 21.17% expanded by 458 bps yoy.

On standalone basis,Vardhman Textiles Ltd, reported standalone net profit of Rs. 217.49 crore for the quarter ended March 31, 2016, registering growth of 141.12% yoy and 69.5% qoq. The company’s standalone revenue stood at Rs. 1,435.40 crore, down 0.92% yoy and 0.65% qoq.

Its standalone core operating profit of Rs. 307.95 crore for the quarter, clocked growth of 2.9% yoy and 6.89% qoq. Operating profit margin for the current quarter at 21.45% expanded by 79 bps yoy and 151 bps qoq.

For the year ended March 31, 2016, the company reported standalone net profit of Rs. 653.06 crore, growing by 81.85% yoy. Its standalone revenue for the period stood at Rs. 5,660.55 crore, registering decline of 3.85% yoy.

Vardhman Textiles  core operating profit stood at Rs. 1,159.67 crore, recording growth of 6.71% yoy. Operating margin for the current period at 20.68% expanded by 222 bps yoy.

Result Highlights: (Rs. in crore)

Reported Results IIFL Estimates Variance (%)
Consolidated Revenue 1702.68 1790 [4.88]
Consolidated Net Profit 159.44 168.06 [5.13]

Standalone EPS for the quarter stood at Rs. 25.50.

Bloomberg estimated the company’s standalone net profit at Rs. 127.05 crore.

Stock Commentary:

Vardhman Textiles is currently trading at Rs. 1010, up by 84.15 points or 9.09% from its previous closing of Rs. 925.85 on the BSE.

The scrip opened at Rs. 930 and has touched a high and low of Rs. 1028 and Rs. 928.3 respectively. So far 370723(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 5893.04 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 990 on 21-Aug-2015 and a 52 week low of Rs. 585 on 11-May-2015. Last one week high and low of the scrip stood at Rs. 937 and Rs. 868.5 respectively.

The promoters holding in the company stood at 62.21 % while Institutions and Non-Institutions held 23.27 % and 14.52 % respectively.

The stock is currently trading below its 200 DMA.


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