Vardhman Textiles Ltd's Q3FY19 consolidated net profit rises 44% yoy to Rs196cr : Beats Estimates

The company’s consolidated revenue stood at Rs1,729cr, up 4.9% yoy and 2.6% qoq.

Feb 06, 2019 01:02 IST India Infoline Research Team

Vardhman Textiles Ltd Q3FY19

Consolidated Results Q3FY19: (Rs. in cr)

Q3FY19 YoY (%)
Revenue 1,729.44 4.9
EBITDA 307.11 36.2
EBITDA Margin (%) 17.8 407
Net Profit (adjusted) 195.77 44.5
***EBITDA margin change is bps

Vardhman Textile Ltd’s revenue grew by 4.9% yoy and 2.6% qoq to Rs1,729cr. EBITDA came in at Rs307cr, up 36.2% yoy and down 7.2% qoq. EBITDA margin expanded by 407bps yoy and contracted by 188bps qoq to 17.76%. Adjusted PAT grew by 44.5% yoy and down 0.3% qoq to Rs196cr. Adjusted PAT came above estimate of Rs179cr.

• Revenue from Acrylic fibre and Textiles segments grew by 11.5% yoy and 4.6% yoy to Rs96cr and Rs1,658cr respectively.
• Cost of goods sold stood at 51.6% of sales vs. 56.7% yoy, aiding in EBITDA margin expansion.
• Other expenses stood at 12% of sales vs. 12.2% yoy.
• Finance cost declined by 5.4% yoy to Rs27cr.
• Other income grew by 60.9% yoy to Rs60cr.
• Tax rate for the quarter stood at 30.3% vs. 21.9% yoy.

Technical View:

Vardhman Textiles Ltd is currently trading at Rs. 1,046.60, up by 2.2 points or 0.21% from its previous closing of Rs. 1,044.40 on the BSE.
The scrip opened at Rs. 1,030.30 and has touched a high and low of Rs. 1,075 and Rs. 1,023 respectively. So far 25,592 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.

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