Manaksia Ltd announced its Q1FY14 consolidated results on 13th August, 2013.
The company arrived at net sales of INR540.71 crore, which was up by 32.42% on YoY basis due to higher sales growth witnessed in all the segments especially in metal products segment which constitute ~75% of the total revenue. On QoQ basis, the net sales fell by 14.34%. The EBITDA for the quarter was INR99.9 crore, which was again up by 52.12% on YoY basis because of its cost control efficiencies. On QoQ basis, it was down by 3.12%. The company registered adjusted net profit excluding exceptional items of INR55.22 crore, which was up significantly by 59.50% on YoY basis.
Hence, at the CMP of INR56 per share, the stock is trading at P/E of 1.65x its TTM EPS of INR33.98 and EV/EBITDA of 2.19x its TTM EBITDA of INR376.11 crore.
Particulars
|
Q1FY14A
|
Q1FY13A
|
Q4FY13A
|
YoY(%)
|
QoQ(%)
|
Segmental Revenue
| |||||
Pacakaging Products
|
57.52
|
44.15
|
73.69
|
30%
|
-22%
|
as a % of sales
|
10%
|
10%
|
11%
| ||
Mosquito Coil
|
15.81
|
20.76
|
45.99
|
-24%
|
-66%
|
as a % of sales
|
3%
|
5%
|
7%
| ||
Metal products
|
415.37
|
334.6
|
469.41
|
24%
|
-12%
|
as a % of sales
|
76%
|
79%
|
73%
| ||
Paper products
|
39.88
|
20.06
|
25.18
|
99%
|
58%
|
as a % of sales
|
7%
|
5%
|
4%
| ||
Others
|
21.52
|
3.55
|
30.05
|
506%
|
-28%
|
as a % of sales
|
4%
|
1%
|
5%
| ||
Total Revenue
|
550.1
|
423.12
|
644.32
|
30%
|
-15%
|
Manaksia Ltd Q1FY14 Consolidated Results
| |||||
Particulars
|
Q1FY14A
|
Q1FY13A
|
Q4FY13A
|
YoY(%)
|
QoQ(%)
|
Net Sales
|
540.71
|
408.33
|
631.25
|
32.42%
|
-14.34%
|
Other Operating Income
|
9.09
|
7.15
|
10.43
| ||
Total Operating Income
|
549.8
|
415.48
|
641.68
| ||
Total Expenditure
|
449.9
|
349.81
|
538.56
| ||
EBITDA
|
99.9
|
65.67
|
103.12
|
52.12%
|
-3.12%
|
EBITDA Margin (%)
|
18.17%
|
15.81%
|
16.07%
|
236bps
|
210bps
|
Other Income
|
1.06
|
8.25
|
1.47
| ||
Operating Profit
|
100.96
|
73.92
|
104.59
| ||
Depreciation
|
27.24
|
27.06
|
26.78
| ||
PBIT
|
73.72
|
46.86
|
77.81
| ||
Interest
|
12.7
|
10.84
|
15.58
| ||
Exceptional Items
|
-2.56
|
-13.39
|
-2.26
| ||
PBT
|
58.46
|
22.63
|
59.97
| ||
Tax
|
5.85
|
1.7
|
1.86
| ||
PAT
|
52.61
|
20.93
|
58.11
|
151.36%
|
-9.46%
|
Minority Interest
|
0.05
|
0.3
|
-0.02
| ||
Consolidated PAT
|
52.66
|
21.23
|
58.09
|
148.05%
|
-9.35%
|
PAT Margin (%)
|
9.58%
|
5.11%
|
9.05%
| ||
PAT excluding exceptional Items
|
55.22
|
34.62
|
60.35
|
59.50%
|
-8.5%
|
PAT Margin excluding exceptional items (%)
|
10.04%
|
8.33%
|
9.40%
|
171bps
|
64bps
|
Equity Capital
|
13.11
|
13.11
|
13.11
| ||
Face Value
|
2
|
2
|
2
| ||
No. of Outstanding shares
|
6.56
|
6.56
|
6.56
| ||
EPS
|
8.03
|
3.24
|
8.86
|
148.05%
|
-9.35%
|
EPS excluding exceptional Items
|
8.42
|
5.28
|
9.21
|
59.50%
|
-8.50%
|
Source: Company Data, Microsec Research. All data in INR crores unless specified.
| |||||
Regards,
Team Microsec Research
No comments:
Post a Comment