|
For the quarter ended December 2016, Va Tech Wabag reported an 18% rise its consolidated sales to Rs 718.32 crore. OPM improved 380 basis points to 11.1% which saw OP grow 79% to Rs 79.44 crore.
Forex gains stood at a profit of Rs 2.19 crore against a loss of Rs 1.51 crore. Thus PBIDT grew 90% to Rs 81.63 crore.
Interest cost grew 25% to Rs 12.44 crore and depreciation fell 7% to Rs 4.64 crore. Thus PBT grew 131% to Rs 64.55 crore.
Provision for taxation fell 61% to Rs 4.46 crore, after which PAT went up 265% to Rs 60.09 crore.
Minority interest and share of profit/loss of associate companies stood at a loss Rs 62.70 crore against a loss of Rs 2.80 crore.
Share of profit from associates & minority interest reflects abnormal writeoffs on its Oman project and can be considered as onetime hit.
Finally it reported loss at the net profit level of Rs 2.56 crore against a profit of Rs 19.22 crore.
Consolidated nine month performance
For the nine months ended December 2016, Va Tech Wabag reported a 25% rise its consolidated sales to Rs 2076.17 crore. OPM improved 70 basis points to 7.9% which saw OP grow 37% to Rs 164.95 crore.
Forex gains jumped from Rs 54 lakh to Rs 7.20 crore
Interest cost grew 22% to Rs 32.83 crore and depreciation fell 9% to Rs 13.94 crore. Thus PBT grew 60% to Rs 125.38 crore.
Provision for taxation fell 6% to Rs 34.02 crore, after which PAT went up 116% to Rs 91.36 crore.
Minority interest and share of profit/loss of associate companies stood at a loss Rs 64.70 crore against a loss of Rs 18.70 crore.
Share of profit from associates & minority interest reflects abnormal writeoffs on its Oman project and can be considered as onetime hit.
Finally net profit grew 13% to Rs 26.67 crore.
In spite of being adversely affected by the levy of Liquidated Damages from its Desalination plant project in Oman, the company reported a 13% growth in its PAT.
Consolidated segment Performance
During the quarter Indian business contributed 35% of the total revenue. Revenue grew 2% to Rs 257.77 crore. PBIT fell 19% to Rs 43.28 crore and accounted for 25% of total
During the quarter Rest of the World business accounted for 65% of the total revenue. Revenue grew 19% to Rs 472.44 crore. PBIT grew 67% to Rs 129.71 crore and accounted for 75% of total
During the nine months Indian business contributed 34% of the total revenue. Revenue grew 6% to Rs 716.93 crore. PBIT fell 1% to Rs 139.99 crore and accounted for 32% of total
During the nine months Rest of the World business accounted for 66% of the total revenue. Revenue grew 35% to Rs 1416.12 crore. PBIT grew 33% to Rs 296.50 crore and accounted for 68% of total
Order Book
Order intake is of more than Rs 2700 crore.
Order Book stands at over Rs 8400 crore including Framework contracts of about Rs 870 crore.
Guidance
For FY 2017 the company expects revenue in the range of Rs 3000-Rs 3200 crore.
For FY 2017 Order Intake is expected to be in the range of Rs 4000-4200 crore.
Valuation
The share price trades at Rs 492.
|