Quarterly Result: Sadbhav Engineering Ltd.
Bhagyashree Vivarekar / 28 Nov 2016
Sadbhav Engineering Ltd., is currently trading at Rs. 268, down by 7.3 points or 2.65% from its earlier closing of Rs. 275.3 on the BSE. The company's net profit dropped 33.4% yoy to Rs 18.52 cr.
Technical View:
Sadbhav Engineering Ltd., is currently trading at Rs. 268, down by 7.3 points or 2.65% from its earlier closing of Rs. 275.3 on the BSE.
The scrip has touched a high and low of Rs. 279 and Rs. 261 respectively, after opening at 277. In totality 217539(NSE+BSE) shares have been traded on the counter so far; and the stock is currently trading above its 100 DMA.
Standalone Results Q2FY17:
Sadbhav Engineering Ltd.’s standalone Q2FY17 results have come in as a mixed bag versus Bloomberg estimates. Revenue has come in 18.7% below the estimate of Rs 757 cr. EBITDA stands at 20.8% above the estimate of Rs 54 cr. Net profit is 48.7% below the estimated figure of Rs 36 cr.
The quarter's revenue has depleted 17.5% yoy to Rs 615.63 cr.
Sadbhav's EBITDA has dropped by 19.1% yoy to Rs 65.36 cr and EBITDA margins have shrunken by 20 bps to 10.6%, triggered by 11% yoy rise in employee benefit expenses.
The company's net profit dropped 33.4% yoy to Rs 18.52 cr owing to 80% yoy decline in other income and 33% surge in finance cost.
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