HSIL Ltd Q3FY18Standalone Results Q3FY18: (Rs. in crore)
|EBITDA Margin (%)||12.5|||
|Net Profit (adjusted)||19.94||[13.3]|
***EBITDA margin change is bps
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For Q3FY18, HSIL Ltd’s revenue grew by 6.5% yoy to Rs578.41cr as against Rs542.95cr. The company’s EBITDA margin has declined by 22bps yoy to 12.5% as against 12.8% led by higher inventory changes. The company’s adj. PAT declined by 13.3% yoy to Rs19.94cr as against Rs23cr on the back of rise in finance cost by 70.2% yoy to Rs12.87cr. There are no adequate consensus estimates for the company’s third quarter result.
• The Building Products segment’s revenue grew by 3.5% yoy to Rs253.78cr as against Rs245.26cr. The division’s EBIT grew by 11.8% yoy to Rs42.64cr as against Rs38.15cr.
• The Packaging Products segment’s revenue grew by 1.8% yoy to Rs243.26cr as against Rs238.96cr. The division’s EBIT declined by 29.5% yoy to Rs17.69cr as against Rs25.11cr.
• Consumer Products segment’s revenue grew by 76.3% yoy to Rs62.1cr as against Rs35.22cr. The division’s EBIT loss declined by 86% yoy to Rs1.04cr as against Rs7.45cr.
• The company’s Retail Business segment’s revenue grew by 0.1% yoy to Rs23.75cr as against Rs23.72cr. The division’s EBIT loss grew by 35.3% yoy to Rs5.29cr as against Rs3.91cr.
• The company’s Other Business segment’s revenue declined by 14.3% yoy to Rs0.06cr as against Rs0.07cr. The division’s EBIT loss declined by 22.2% yoy to Rs0.14cr as against Rs0.18cr.
• The financial results with respect to prior periods have been restated to consider the transfer of all the properties, assets, rights, claims, and obligation of the retail business of Hindware Home Retail Pvt Ltd into HSIL Ltd on a going concern basis with effect from April 1, 2015.
• The Board of Directors on November 10, 2017 had approved a composite scheme arrangement amongst company named Somany Home Innovation Ltd, a wholly owned subsidiary of HSIL Ltd (Resulting Company 1) and Brilloca Ltd (Resulting Company 2), a wholly owned subsidiary of Somany Home Innovation Ltd. The scheme provides for the demerger of i) the Consumer Products Distribution & Marketing Undertaking and Retail Undertaking of the company into Resulting Company 1, and
ii) the Building Products Distribution & Marketing Undertaking of the company into Resulting Company 2.
The appointed date for the scheme is April 1, 2018 or such other date as is directed by the Hon’ble Kolkata Bench of the National Company Law Tribunal (NCLT). The scheme is subject to the approval of the BSE, NSE, SEBI, shareholders, creditors of the company and such other necessary approvals as may be required and sanction thereof by the NCLT.
• On October 17, 2017 one of the warehouses relating to the Retail Business division had caught fire resulting to an estimated loss of Rs6.94cr which has been duly provided in the books of account for the quarter and nine month period of current financial year. Insurance claims relating to the losses have been filed and the settlement amounts of insurance claims as received would be accounted for on the respective dates.
HSIL Ltd ended at Rs. 455.30, down by 12.75 points or 2.72% from its previous closing of Rs. 468.05 on the BSE.
The scrip opened at Rs. 472 and touched a high and low of Rs. 480.95 and Rs. 449.95 respectively. A total of 87,456(NSE+BSE) shares were traded on the counter. The stock traded above its 50 DMA.
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