Quarterly Results: Grasim Industries Ltd
Shital Jibhe / 28 Oct 2016
Grasim Industries Ltd’s standalone Q2FY17 numbers have come in above estimates. Revenue is 12.2% higher than the street estimate of Rs 2450 cr. EBITDA margin has come in line with estimate of 20.4%.
Standalone Results Q2FY17: (Rs. in crore)
***EBITDA margin change is bps
Grasim Industries Ltd’s standalone Q2FY17 numbers have come in above estimates. Revenue is 12.2% higher than the street estimate of Rs 2450 cr. EBITDA margin has come in line with estimate of 20.4%.Also net profit is 31.6% higher than the estimated figure of Rs 450 cr.
Revenue for the quarter has increased 17.7% yoy to Rs 2749 cr due to viscose staple fibre segment growing by 22% yoy.
The EBITDA has surged by 54.9% yoy to Rs 559 cr; while EBITDA margins have expanded by 488 bps yoy to 20% due to operational efficiency.
Net profit has increased 55.2% yoy to Rs 592 cr aided by a 43% yoy growth in other income.
Technical View:
Grasim Industries Ltd., is currently trading at Rs. 970, up by 12.8 points or 1.34% from its previous closing of Rs. 957.2 on the BSE.
The scrip opened at Rs. 969.7 and has touched a high and low of Rs. 980.9 and Rs. 952.95 respectively. So far 963979 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.
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