Rallis India: Net profit Grew By 72% In Q4FY14
Waseem Ahmad / 23 Apr 2014
The company has shown some improvement on the margin front. EBITDA margin of the company went up to 12.6% in Q4FY14 from 10.2% in Q4FY13 and net profit margin rose to 5.45% during the period from 3.7% in the corresponding quarter of previous year.
Rallis India, a TATA enterprise and one of the leading agrochemical companies, announced its financial result for the fourth quarter and year ended 31 March, 2014. The company posted good set of numbers for FY14. Despite a non-crop season, the company’s total operating income grew by 16.34% to Rs.311.1 crore in Q4FY14 as against Rs. 265.2 crore in Q4FY13 while EBITDA registered a growth of 43.5% y-o-y during the said period to Rs. 41. 7 crore from Rs.29 crore in Q4FY13. Net profit of the company has shown a sharp increase in its number and rose by 72% to Rs 18.09 crore in Q4FY14 as compared to Rs. 10.4 crore in same period last year.
The company has shown some improvement on the margin front. EBITDA margin of the company went up to 12.6% in Q4FY14 from 10.2% in Q4FY13 and net profit margin rose to 5.45% during the period from 3.7% in the corresponding quarter of previous year.
The quarterly performance of the company was driven by both increase in volume as well as value improvement due to price adjustment necessitated by the cost increase through the year. The margin improvement is mainly due to gain from operating efficiencies, better cash management, and lower interest cost.
The company witnessed some improvement in its major expenditure also. Total operating expense for the company came down to 92.45% of total operating revenue in Q4FY14 from 94.26% in corresponding quarter of previous year. Further, its interest cost also came down to 0.37% of total operating revenue during the said quarter from 0.70% in Q4FY13.
As far as the yearly performance is concerned, total operating revenue of the company increased by 19.8% in FY14 and stood at Rs. 1746 crore against Rs. 1451 crore in FY13. EBITDA margin of the company also improved by 50 bps to touch around 15.10 % during the said period. Further, net profit of the company recorded a strong growth and rose by 28.5% to Rs. 151 crore from Rs.119 crore in FY13.
At CMP of Rs. 174.5 per share, it is trading at 23x times of its trailing 12-months earning with an increase of 4.7% over its previous closing.
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