Quarterly Result: Welspun India Ltd
Bhagyashree Vivarekar / 15 Nov 2016
Welspun India Ltd., is currently trading at Rs. 60.75, down by 4.2 points or 6.47% from its earlier closing of Rs. 64.95 on the BSE. Welspun's adjusted net profit has risen 14.5% yoy to Rs 205 cr, triggered by 37.9% drop in finance costs.
Technical View:
Welspun India Ltd., is currently trading at Rs. 60.75, down by 4.2 points or 6.47% from its earlier closing of Rs. 64.95 on the BSE.
The scrip has touched a high and low of Rs. 64.95 and Rs. 58.8 respectively, after opening at 64.95. By far 3320828(NSE+BSE) shares were traded on the counter; and the stock is currently trading below its 200 DMA.
Consolidated Results Q2FY17:
Welspun India Ltd’s Q2FY17 consolidated numbers have beaten Bloomberg estimates. Revenue is 9.4% higher than estimates of Rs 1636 cr. Company’s EBITDA is 25.3% greater than the estimated figure of Rs 345 cr. Company’s net profit too stands 4.9% higher than the estimates of Rs 196 cr.
Company’s net revenue stands at Rs 1790 cr, which climbed 21.8% from the same quarter of previous year. Company’s Home Textile segment revenue jumped 21.4%. The double-digit growth in revenue was triggered by volume growth in towels and rugs.
EBITDA surged by 12.8% yoy to Rs 432 cr with shrinkage in EBITDA margins by 194 bps yoy to 24.1%. This can be attributed to higher cotton and energy costs.
Welspun's adjusted net profit has risen 14.5% yoy to Rs 205 cr, triggered by 37.9% drop in finance costs.
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