Quarterly Results: IFB Industries Ltd
Shital Jibhe / 28 Oct 2016
IFB Industries’ standalone Q2FY17 numbers have come in above our estimate. Revenue has come in 8.7% higher than our estimate of Rs 404 cr yoy. EBITDA has come in 37.4% yoy higher than the estimated figure of Rs 24 cr.
Standalone Results Q2FY17: (Rs. in crore)
***EBITDA margin change in bps
IFB Industries’ standalone Q2FY17 numbers have come in above our estimate. Revenue has come in 8.7% higher than our estimate of Rs 404 cr yoy. EBITDA has come in 37.4% yoy higher than the estimated figure of Rs 24 cr. Net profit was 39.1% yoy higher than the estimate of Rs 13 cr.
Revenue for the quarter has increased 19.4% yoy to Rs 439 cr. This was driven by 22% yoy growth in home appliance segment.
Reported EBITDA has risen by 51.2% yoy to Rs 33 cr and EBITDA margins have expanded by 157 bps yoy to 7.5%. This was due to 20% yoy decline in purchase of stock-in-trade.
Net profit has surged 91% yoy to Rs 18 cr primarily led by a 117% yoy increase in other income.
Technical View:
IFB Industries Ltd., has ended at Rs. 529.7, up by 4.15 points or 0.79% from its previous closing of Rs. 525.55 on the BSE. The scrip has opened at Rs. 526.25 and touched a high and low of Rs. 535 and Rs. 520.15 respectively. A total of 31972(NSE+BSE) shares were traded on the counter. The stock traded below its 50 DMA.
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