X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2018 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Atul Ltd: Higher Depreciation and Lower Other Income Impacts Profits - Views on News from Equitymaster
The India Letter
  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  
  • Home
  • Outlook Arena
  • Nov 25, 2016 - Atul Ltd: Higher Depreciation and Lower Other Income Impacts Profits

Atul Ltd: Higher Depreciation and Lower Other Income Impacts Profits
Nov 25, 2016

Atul Ltd declared results for the quarter ended September 2016. The company's revenues grew by 8% during the quarter. While, the profits declined by 4.1%. Here is our analysis of the result.

Financial Performance Snapshot
(Rs m) 2QFY16 2QFY17 Change 1HFY16 1HFY17 Change
Net sales 6,831 7,384 8.1% 13,089 14,134 8.0%
Expenditure 5,579 5,954 6.7% 10,848 11,534 6.3%
Operating profit (EBITDA) 1,252 1,429 14.2% 2,241 2,600 16.0%
EBITDA margin 18.3% 19.4% 17.1% 18.4%
Other income 160 106 -34.1% 250 162 -35.2%
Depreciation 148 223 50.5% 290 428 47.8%
Finance cost 63 51 -19.7% 116 123 6.2%
Exceptional item 27 0.00 -100.0% 27 0.00 -100.0%
Profit before tax 1,228 1,261 2.7% 2,112 2,211 4.7%
Tax 369 438 18.6% 643 583 -9.4%
Effective tax rate 30.1% 34.7% 30.4% 26.3%
Net profit 859 823 -4.1% 1,469 1,629 10.8%
Net profit margin 12.6% 11.1% 11.2% 11.5%
No of shares (m) 29.7
Diluted EPS (Rs)* 95.8
P/E (times)* 21.1

*trailing twelve month earnings excluding exceptional items

To Read the Full Story, Subscribe or Sign In



DISCLOSURES UNDER SEBI (RESEARCH ANALYSTS) REGULATIONS, 2014
INTRODUCTION:
Equitymaster Agora Research Private Limited (hereinafter referred to as "Equitymaster"/"Company") was incorporated on October 25, 2007. Equitymaster is a joint venture between Quantum Information Services Private Limited (QIS) and Agora group. Equitymaster is a SEBI registered Research Analyst under the SEBI (Research Analysts) Regulations, 2014 with registration number INH000000537.

BUSINESS ACTIVITY:
An independent research initiative, Equitymaster is committed to providing honest and unbiased views, opinions and recommendations on various investment opportunities across asset classes.

DISCIPLINARY HISTORY:
There are no outstanding litigations against the Company, it subsidiaries and its Directors.

GENERAL TERMS AND CONDITIONS FOR RESEARCH REPORT:
For the terms and conditions for research reports click here.

DETAILS OF ASSOCIATES:
Details of Associates are available here.

DISCLOSURE WITH REGARDS TO OWNERSHIP AND MATERIAL CONFLICTS OF INTEREST:
  1. 'subject company' is a company on which a buy/sell/hold view or target price is given/changed in this Research Report
  2. Neither Equitymaster, it's Associates, Research Analyst or his/her relative have any financial interest in the subject company.
  3. Neither Equitymaster, it's Associates, Research Analyst or his/her relative have actual/beneficial ownership of one percent or more securities of the subject company at the end of the month immediately preceding the date of publication of the research report.
  4. Neither Equitymaster, it's Associates, Research Analyst or his/her relative have any other material conflict of interest at the time of publication of the research report.
DISCLOSURE WITH REGARDS TO RECEIPT OF COMPENSATION:
  1. Neither Equitymaster nor it's Associates have received any compensation from the subject company in the past twelve months.
  2. Neither Equitymaster nor it's Associates have managed or co-managed public offering of securities for the subject company in the past twelve months.
  3. Neither Equitymaster nor it's Associates have received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months.
  4. Neither Equitymaster nor it's Associates have received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months.
  5. Neither Equitymaster nor it's Associates have received any compensation or other benefits from the subject company or third party in connection with the research report.
GENERAL DISCLOSURES:
  1. The Research Analyst has not served as an officer, director or employee of the subject company.
  2. Equitymaster or the Research Analyst has not been engaged in market making activity for the subject company.
Definitions of Terms Used:
  1. Buy recommendation: This means that the subscriber could consider buying the concerned stock at current market price keeping in mind the tenure and objective of the recommendation service.
  2. Hold recommendation: This means that the subscriber could consider holding on to the shares of the company until further update and not buy more of the stock at current market price.
  3. Buy at lower price: This means that the subscriber should wait for some correction in the market price so that the stock can be bought at more attractive valuations keeping in mind the tenure and the objective of the service.
  4. Sell recommendation: This means that the subscriber could consider selling the stock at current market price keeping in mind the objective of the recommendation service.
Feedback:
If you have any feedback or query or wish to report a matter, please do not hesitate to write to us.

Small Investments
BIG Returns

Zero To Millions Guide 2018
Get our special report, Zero To Millions
(2018 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

ATUL LTD. SHARE PRICE


Dec 13, 2017 (Close)

TRACK ATUL LTD.

  • Track your investment in ATUL LTD. with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

ATUL LTD. - SOLAR INDUSTRIES COMPARISON

COMPARE ATUL LTD. WITH

MARKET STATS