Quarterly Result: Finolex Industries Ltd
Bhagyashree Vivarekar / 08 Dec 2016
Finolex Industries Ltd., is currently trading at Rs. 424.9, up by 8.9 points or 2.14% from its earlier closing of Rs. 416 on the BSE. The company's adjusted net profit has surged by 117.5% yoy to Rs 51 cr, anchored by 80% yoy decline in finance cost.
Technical View:
Finolex Industries Ltd., is currently trading at Rs. 424.9, up by 8.9 points or 2.14% from its earlier closing of Rs. 416 on the BSE.
The scrip touched a high and low of Rs. 447.6 and Rs. 412.2 respectively, after opening at 447.6. In totality 61361(NSE+BSE) shares have been traded on the counter so far; and the stock is currently trading above its 100 DMA.
Standalone Results Q2FY17:
Finolex Industries Ltd’s Q2FY17 numbers have beaten Bloomberg estimates. Revenue has come in 14.7% greater than the estimate of Rs 456 cr. EBITDA margin is greater by 340 bps from the estimate of 13%. Net profit is 15.8% greater than the estimated figure of Rs 44 cr.
The quarter's revenue has marginally depleted 2% yoy to Rs 523 cr, triggered by 1.5% yoy drop in sales in PVC segment.
Finolex's EBITDA has soared 65.9% yoy to Rs 87 cr while EBITDA margins have expanded by 680 bps yoy to 16.6%. This can be attributed to 10.4% yoy drop in power and fuel expenses.
The company's adjusted net profit has surged by 117.5% yoy to Rs 51 cr, anchored by 80% yoy decline in finance cost.
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