Quarterly Results: ITD Cementation India Ltd

Technical View:

ITD Cementation India Ltd., is currently trading at Rs. 142.65, down by 5.35 points or 3.61% from its earlier closing of Rs. 148 on the BSE.

The scrip has touched a high and low of Rs. 145 and Rs. 126.2 respectively, after opening at 132.2. By far 104385(NSE+BSE) shares were traded on the counter; and the stock is currently trading below its 50 DMA.

ITD Cementation India Ltd Q3CY16 result:

Street estimates were higher than ITD Cementation India Ltd’s actual Q3CY16 consolidated numbers. Revenue stands 43.9% lower than the estimated Rs 859.9 cr. EBITDA is 10.7% lower than the estimated figure of Rs 52 cr.  Net profit has come in 38.7% lesser than our estimate of Rs 11 cr.

The quarter's consolidated net revenue has plunged 29.8% yoy to Rs 482.7 cr.
 
However, EBITDA has surged by 7.4% yoy to Rs 46 cr and EBITDA margins have improved 328 bps yoy to 9.5%. This was triggered by 53% yoy drop in sub-contracts expense.  
 
The company's net profit has ballooned sharply by 65.5% yoy to Rs 6.87 cr. This can be attributed to 88.9% yoy surge in other income coupled with 14% yoy dip in finance costs.