The company’s net profit declined 24.40% to Rs105.69cr in the quarter ended September 2020 as against Rs139.81cr during the previous quarter ended September 2019.
Sales also declined 12.44% to Rs1,173.98cr in the quarter ended September 2020 as against Rs1,340.72cr during the previous quarter ended September 2019.
The stock ended at Rs7.77, up by Rs0.11 or 1.44% from its previous closing of Rs7.66 on the BSE.
Financial & Business Highlights:
- Net Revenue in Q2 FY21 stood at INR 1174.6 crores compared to INR 1325.6 crores in Q2 FY20
- EBIDTA for Q2 FY21 stood at INR 226.9 crores which translates into 19.3% margin
- Profit after tax for the Q2 FY21 stood at INR 100.2 crores
- Finance cost for Q2 FY21 reduced to INR 12.3 crores as compared to INR 27.1 Crores in Q2 FY20
- Net Debt reduced significantly as on Sep 30, 2020 to reach level of INR 947.6 Crores as compared to INR 1614.5 crores as on 31st March 2020 on account of company making prepayments of INR 373.2 crores of term loans; Net Debt to Equity ratio stood at 0.3x
- Textile Segment Revenue stood at INR 990.8 crores in Q2 FY21 compared to INR 1094.1 crores in Q2 FY20. EBIT for the segment for Q2 FY21 increased to INR 114.9 crores Y-o-Y as compared to INR 113.6 crores in Q2 FY20
- Paper Segment Revenue stood at INR 180.9 crores in Q2 FY21 compared to INR 227.9 crores in Q2 FY20. EBIT for the segment during the period reduced to INR 48.9 crores Y-o"-Y as compared to INR 83.3 crores in Q2 FY20.