Quarterly Result: Vardhman Textiles Ltd
Bhagyashree Vivarekar / 15 Nov 2016
Vardhman Textiles Ltd., is currently trading at Rs. 1062.8, down by 13.95 points or 1.3% from its earlier closing of Rs. 1076.75 on the BSE. The company's net profit has soared 231.4% yoy to Rs 454 cr largely owing to effect of scale.
Technical View:
Vardhman Textiles Ltd., is currently trading at Rs. 1062.8, down by 13.95 points or 1.3% from its earlier closing of Rs. 1076.75 on the BSE.
The scrip has touched a high and low of Rs. 1125.5 and Rs. 1040 respectively, after opening at 1125.5. Altogether 548612(NSE+BSE) shares have been traded on the counter; and the stock is currently trading below its 50 DMA.
Consolidated Results Q2FY17:
Vardhman Textile Ltd.'s Q2FY17 numbers have beaten Bloomberg estimates. Revenue is reported 29.1% higher than the estimate of Rs 1212 cr while EBITDA is reported 48% higher than estimate of 256 cr. Net profit is reported 235% greater than the estimated figure of Rs 136 cr.
The quarter's revenue has surged marginally by 5.9% yoy to Rs 1564 cr.
Vardhaman's reported EBITDA has soared 24.9% yoy to Rs 379 cr while EBITDA margins have improved by 369 bps to 24.2%, anchored by operational efficiency.
The company's net profit has soared 231.4% yoy to Rs 454 cr largely owing to effect of scale.
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