Quarterly Result: Nandan Denim Ltd
Bhagyashree Vivarekar / 15 Nov 2016
Nandan Denim Ltd., is currently trading at Rs. 123, down by 7.25 points or 5.57% from its earlier closing of Rs. 130.25 on the BSE. Net profit has surged 4.5% yoy to Rs 16.3 cr, triggered by 15.7% yoy drop in finance costs.
Technical View:
Nandan Denim Ltd., is currently trading at Rs. 123, down by 7.25 points or 5.57% from its earlier closing of Rs. 130.25 on the BSE.
The scrip has touched a high and low of Rs. 131 and Rs. 120.9 respectively, after opening at 131. By far 60644(NSE+BSE) shares have been traded on the counter; and the stock is currently trading above its 200 DMA.
Standalone Results Q2FY17:
Bloomberg estimates were higher than Nandan Denim Ltd’s actual Q2FY17 consolidated numbers. Revenue is 5.5% below our estimates of Rs 320.4 cr. Net profit stands1.8% lower than the estimates of Rs 17 cr.
Net revenue stands at Rs 302.6 cr which climbed 2.7% during the same quarter of previous year.
Nandan's EBITDA has dropped 3.3% yoy to Rs 49 cr and EBITDA margins have shrunken 105 bps yoy to 16.2%. This can be attributed to 10.7% yoy surge in employee benefit expenses and
Net profit has surged 4.5% yoy to Rs 16.3 cr, triggered by 15.7% yoy drop in finance costs.
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