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Indo Count: Value added products buoy margins - Views on News from Equitymaster
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Indo Count: Value added products buoy margins
Feb 29, 2016

Indo Count Industries announced its results for the quarter ended December 2015. During the period, the company's revenues grew by 20% YoY, while profits were up by 50% YoY.

Performance summary

  • Revenues up by 20% YoY and 30% YoY during the third quarter and nine months respectively.
  • Operating profits rise by 56% YoY as margins expand to 19.7% in 3QFY16 from 15.2% in 3QFY15.
  • Net profits rise by 50% YoY in 3QFY16 and by 72% YoY in 9mFY16, despite higher tax incidence.

Financial snapshot

(Rs m) 3QFY15 3QFY16 Change 9mFY15 9mFY16 Change
Net sales 4,131 4,968 20.3% 11,710 15,249 30.2%
Expenditure 3,503 3,987 13.8% 10,206 12,222 19.8%
Operating profit (EBDITA) 628 981 56.2% 1,504 3,027 101.3%
Operating profit margin (%) 15.2% 19.7% 12.8% 19.9%
Depreciation 43 45 4.7% 115 130 13.0%
EBIT 585 936 60.0% 1,389 2,897 108.6%
EBIT margin (%) 14.2% 18.8% 11.9% 19.0%
Interest 141 93 -34.0% 459 396 -13.7%
Other income 152 58 -61.8% 522 207 -60.3%
Profit before tax 596 901 51.2% 1,452 2,708 86.5%
Tax 202 311 53.7% 462 1,003 117.3%
eps 33.9% 34.5% 31.8% 37.0%
Profit after tax/(loss) 394 591 49.9% 990 1,705 72.1%
Net profit margin (%) 9.5% 11.9% 8.5% 11.2%
No. of shares (m) 39.5
Fully diluted EPS (Rs)* 52.6
P/E (x)* 15.8

* trailing 12 months earnings

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