IFB Industries Marks A Rise In Net Profit By 122%
Biswajit Yadav / 30 May 2014
IFB Industries came up with its Q4 result for the fiscal year 2014. The result was announced yesterday (May 29, 2014) after the market hours. The company has reported a growth in topline and bottomline of 28% and 122% on yearly basis during the last quarter of FY14.
The operating revenue of IFB industries during Q4FY14 stood at Rs 276.44 crore, as compared to Rs 215.37 crore in Q4FY13. IFB Industries operates in two segment, home appliances and engineering segment. While on yearly basis the home appliances division and engineering division reported a growth of 28% and 29% respectively for the quarter ended March 2014. The EBITDA of the company surged up by 186% on yearly basis, standing at Rs 16.25 crore during Q4FY14. The company has posted a net profit of Rs 9.1 crore, marking a jump of 122% on yearly basis for the quarter ended March 2014.
On margin front, the EBITDA margin of the company rose by 324 basis points in Q4FY14 as compared to the same quarter of previous year. The reduction in cost of raw material (down by 169 basis points) as proportionate to sales helped the company to post such a rise in margin during this quarter. While the net profit margin has also increased by 139 basis points for the quarter ended March as compared to the corresponding quarter of previous year.
The shares of the company are trading at a price to earnings (P/E) of 21.3x. Today the scrip on BSE opened at Rs 105 and currently is trading at Rs 114, up by almost 10% from its previous close. We had earlier recommended a buy call for the scrip at Rs 87 in our low priced scrip ( Issue No. 11) and currently it is trading at Rs 114, up by more than 32%.
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