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Results
26-Jul-16
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Analysis
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Visaka Industries
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Strong Building Product segment margins aid the growth
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Net sales for the quarter ended June'16 of the company stood at Rs 309.22 crore, down by 4% on YoY basis. OPM increased by 120 bps to 12.4%, thus resulted in an OP of Rs 38.26 crore up by 7% YoY. Other income for June'16 quarter stood at Rs 0.48 crore as compared to Rs 1.27 crore for June'15 quarter. Thus, PBIDT was up by 4% to Rs 38.74 crore. With interest costs being down by 12% to Rs 4.82 crore and depreciation lower up by 14% to Rs 8.14 crore, PBT was up by 16% to Rs 25.78 crore. With total tax of Rs 9.16 crore, up by 7% YoY, PAT for the quarter ended June'16 stood at Rs 16.62 crore, up by 22%.
Net sales from Building Product segment, which constitute about 86% of total sales, de-grew by 3% to Rs 263.99 crore. Net sales from Synthetic blended yarn segment which constitute about 14% of total sales, de-grew by 1% to Rs 43.71 crore. PBIT for Building Product segment grew by 33% to Rs 32.65 crore on YoY basis. PBIT margin for the segment stood at 12.4% as compared to 9% for June'15 quarter. PBIT for Synthetic blended yarn segment stood at Rs 5.75 crore as compared to PBIT of Rs 7.70 crore for the June'15 quarter. PBIT margin for Synthetic blended yarn segment for June'16 quarter stood at 13.2% as compared to 17.4% for June'15 quarter.
Performance for the year ended Mar 2016
For the year ended Mar'16, net sales were lower by 2% to Rs 1004.86 crore. OPM stood at 9.5% resulting in a 1% lower OP to Rs 95.23 crore. Other income was up by 13% to Rs 2.73 crore. Interest cost was lower by 3% to Rs 21.29 crore. Depreciation was lower by 16% to Rs 36.30 crore. After providing total tax of Rs 15.94 crore, up by 33%, PAT stood at Rs 24.43 crore, up by 15%.
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