Tata Sponge Iron topline and bottomline crushed in Q2FY16
DSIJ Intelligence / 19 Oct 2015
Tata Sponge Iron (TSIL) has recently declared its Q2FY16 results. The company's standalone topline 27.86 per cent to Rs 152.31 crore in Q2FY16 as compared to same period in previous fiscal year.
Tata Sponge Iron (TSIL) has recently declared its Q2FY16 results. The company's standalone topline 27.86 per cent to Rs 152.31 crore in Q2FY16 as compared to same period in previous fiscal year. It's total expenditure decreased by 18.82 per cent to Rs 151.07 crore in Q2FY16 on yearly basis. TSIL's total expenditure reduced mainly as 35.27 per cent reduction in raw material prices during the quarter on yearly basis.
TSIL's EBITDA sharply declined by 95.05 per cent to Rs 1.24 crore in Q2FY16 as compared to the same period in the previous financial year. The company's EBITDA margin contracted considerably from 11.86 per cent in Q2FY15 to 0.81 per cent in Q2FY16. Its PAT also decreased by 74.74 per cent to Rs 5.69 crore in Q2FY16 on yearly basis as other income reduced by 28.68 per cent to Rs 9.15 crore during the quarter. The PAT margin of the TSIL contracted by 693 basis points to 3.74 per cent in Q2FY16 as compared to same period in previous financial year.
TSIL earned 92.85 per cent of the total revenue from the Sponge Iron segment and remaining 7.15 per cent of total revenue from Power segment during Q2FY16.
TSIL's shareholding pattern indicates that FII holdings contracted by 738 basis points to 2.99 per cent and DII holdings expanded by 59 basis points to 1.59 per cent during September 2015 quarter. The share prices of the company decreased by 6.29 per cent in early trades on BSE and is trading at Rs 495 on intraday basis.
TSIL is in the production of Sponge iron and the generation of power. The Company produces sponge iron by direct reduction method of iron ore. It manufactures sponge iron by Tisco Direct Reduction (TDR) technology. TSIL produces power from waste heat. The Company owns two power plants of approximately 7.5 megawatts and 18.5 megawatts capacities. It has its manufacturing facility at Bilaipada in Joda Block of Keonjhar District in Orissa. TSIL has a total production capacity of approximately 3.9 lakh Terapascal (TPA) of sponge iron from approximately three kilns.
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