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Maharashtra Seamless: Sales Realization affected by China dumping - Views on News from Equitymaster
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  • Dec 21, 2015 - Maharashtra Seamless: Sales Realization affected by China dumping

Maharashtra Seamless: Sales Realization affected by China dumping
Dec 21, 2015

Maharashtra Seamless has announced the second quarter results of financial year 2015-2016 (2QFY16). While the topline declined by 27.5% YoY, bottomline declined by 87.8% YoY during the quarter.

Performance summary

  • Income from operations declined by 27.5% YoY during 2QFY16.
  • Operating Margin has also declined by 6.4% to 1% from 7.4% during 2QFY15.
  • Other income declined during this quarter by 48%.
  • Net profit also declined by 87.8% YoY during 2QFY16 on back of decline in operating profit, other income, and increase in depreciation.
  • Net profit goes into the red for the first half

Financial Performance

(Rs m) 2QFY15 2QFY16 Change 1H FY15 1H FY16 Change
Total Income 3,639 2,640 -27.5% 6,329 5,022 -20.7%
Total Expenses 3370.7 2,614 -22.5% 5,912 5,161 -12.7%
Operating profit (EBITDA) 269 27 -90.1% 417 (138) -133.2%
Operating profit margin (%) 7.4% 1.0%        
Other income 210 109 -47.9% 422 239 -43.3%
Finance cost 12 5 -54.6% 18 12 -36.1%
Depreciation 51 72 42.8% 149 147 -1.2%
Profit before tax & exceptional items 416 58 -86.1% 672 (58) -108.6%
Exceptional Item - -   - -  
Tax 67 15 -77.0% 98 (17) -117.6%
Net Profit 349 43 -87.8% 574 (41) -107.1%
Net profit margin (%) 9.6% 1.6%   9.1% -0.8%  
No. of shares (m)         67  
Basic diluted earnings per share (Rs) ^         9.1  
P/E ratio (x) *         18.1  

* On trailing 12 month basis

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