Wheels India's Q4FY16 standalone net profit clocks over two folds jump yoy to Rs.16.97 crore : Beats Estimates

The company’s standalone revenue stood at Rs. 536.57 crore, up 7.46% yoy and 14.2% qoq.

May 25, 2016 2:32 IST | India Infoline News Service
Wheels India Ltd, India's largest auto component manufacturer, reported standalone net profit of Rs. 16.97 crore for the quarter ended March 31, 2016, registering growth of 151.04% yoy and 183.78% qoq. The company’s revenue stood at Rs. 536.57 crore, up 7.46% yoy and 14.2% qoq.

Its standalone core operating profit of Rs. 51.23 crore for the quarter, clocked growth of 41.13% yoy and 34% qoq. Operating profit margin for the current quarter at 9.55% expanded by 228 bps yoy and 141 bps qoq.

For the year ended March 31, 2016, the company reported standalone net profit of Rs. 39.99 crore, growing by 34.47% yoy. Its standalone revenue for the period stood at Rs. 2,016.27 crore, registering growth of 1.84% yoy.

Wheels India Ltd's core operating profit stood at Rs. 172.50 crore, recording growth of 14.94% yoy. Operating margin for the current period at 8.76% expanded by 118 bps yoy.

Result Highlights: (Rs. in crore)

Reported Results IIFL Estimates Variance (%)
Standalone Revenue 536.57 500.68 7.17
Standalone Net Profit 16.97 6.5 161.08

Standalone EPS for the quarter stood at Rs. 14.10.

Stock Commentary:

Wheels India Ltd is currently trading at Rs. 1033.85, up by 130.45 points or 14.44% from its previous closing of Rs. 903.4 on the BSE.

The scrip opened at Rs. 910 and has touched a high and low of Rs. 1034.75 and Rs. 902 respectively. So far 10809(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1087 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1480 on 05-Aug-2015 and a 52 week low of Rs. 771 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs. 944 and Rs. 900 respectively.

The promoters holding in the company stood at 75 % while Institutions and Non-Institutions held 7.3 % and 17.7 % respectively.

The stock is currently trading below its 200 DMA.

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