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Stone India L imited Commercial Vehicles 20% Update … · Total income 18.28 15462.03 22.11 25.36...
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1 Initiative of the BSE Investors’ Protection Fund Stone India Limited Equity Statistics Current Market Price Rs. 65.10 52 Week High/Low Rs. 84.85/60.20 Market Capitalisation Rs. Crores 62.47 Free Float Rs. Crores 33.96 Dividend Yield % 0.00 One Year Regression Beta Times 1.29 BSE Volumes Trend - Average = 29.63 Thousand Relative Returns Returns 1M 3M 6M 1Y Absolute -3% 6% 1% - 12% Rel. to Sensex -7% - 1% - 13% - 27% Shareholding Pattern Source: CARE, BSE and ACE Equity Commercial Vehicles Update for Q3FY17 (i.e. Oct 1, 2016 to Dec 31, 2016) BSE Scrip Code: 522085 May 23, 2017 Result analysis Stone India Limited (SIL) Q3FY17 total income decreased by 29.94% y- o-y and to Rs.13.48 crore. The company reported operating losses of Rs.1.38 crore in Q3FY17. The company reported a net loss of Rs.3.12 crore in Q3FY17 as compared to net loss of Rs.1.93 crore in Q3FY16. During 9MFY17, the company reported 34.79% y-o-y decilne in net sales to Rs.49.34 crore while during this period EBITDA decreased by 104.29% to Rs.0.21 crore. SIL’s net loss stood at Rs.5.19 crore during 9MFY17 as compared to net loss of Rs.1.09 crore during 9MFY16. Annual financial snapshot Income statement FY14 FY15 FY16 Net sales (Rs. crore) 103.33 85.01 101.01 Growth in net sales (%) 6.96 -17.73 18.82 Per share data (Rs.) Adjusted BVPS 44.38 36.41 34.63 Diluted EPS* -3.06 -5.99 -0.25 Key financial ratios EBITDA margin (%) 4.84 2.97 9.75 Adjusted PAT margin (%) -2.42 -6.22 -0.23 RoCE (%) 3.26 -0.12 11.81 RoE (%) -6.75 -15.46 -0.72 Net debt to equity 0.81 0.83 0.78 Interest coverage (times) 0.38 -0.01 1.14 Source: BSE, ACE Equity and CARE Research
Transcript of Stone India L imited Commercial Vehicles 20% Update … · Total income 18.28 15462.03 22.11 25.36...
1 Initiative of the BSE Investors’ Protection Fund
Stone India Limited
Equity Statistics
Current Market Price Rs. 65.10
52 Week High/Low Rs. 84.85/60.20
Market Capitalisation Rs. Crores 62.47
Free Float Rs. Crores 33.96
Dividend Yield % 0.00
One Year Regression Beta Times 1.29
BSE Volumes Trend - Average = 29.63 Thousand
Relative Returns
Returns 1M 3M 6M 1Y
Absolute -3% 6% 1% -
12%
Rel. to Sensex -7% -
1% -
13% -
27%
Shareholding Pattern
Source: CARE, BSE and ACE Equity
Commercial Vehicles Update for Q3FY17 (i.e. Oct 1, 2016 to Dec 31, 2016) BSE Scrip Code: 522085 May 23, 2017
Result analysis
Stone India Limited (SIL) Q3FY17 total income decreased by 29.94% y-
o-y and to Rs.13.48 crore. The company reported operating losses of
Rs.1.38 crore in Q3FY17. The company reported a net loss of Rs.3.12
crore in Q3FY17 as compared to net loss of Rs.1.93 crore in Q3FY16.
During 9MFY17, the company reported 34.79% y-o-y decilne in net
sales to Rs.49.34 crore while during this period EBITDA decreased by
104.29% to Rs.0.21 crore. SIL’s net loss stood at Rs.5.19 crore during
9MFY17 as compared to net loss of Rs.1.09 crore during 9MFY16.
Annual financial snapshot
Income statement FY14 FY15 FY16
Net sales (Rs. crore) 103.33 85.01 101.01
Growth in net sales (%) 6.96 -17.73 18.82
Per share data (Rs.)
Adjusted BVPS 44.38 36.41 34.63
Diluted EPS* -3.06 -5.99 -0.25
Key financial ratios
EBITDA margin (%) 4.84 2.97 9.75
Adjusted PAT margin (%) -2.42 -6.22 -0.23
RoCE (%) 3.26 -0.12 11.81
RoE (%) -6.75 -15.46 -0.72
Net debt to equity 0.81 0.83 0.78
Interest coverage (times) 0.38 -0.01 1.14
Source: BSE, ACE Equity and CARE Research
2 Initiative of the BSE Investors’ Protection Fund
Stone India Limited
Quarterly financials Q3 FY17 Q3 FY16 Q2 FY17 Growth Growth
Income statement (Rs. crore) Y-o-Y (%) Q-o-Q (%)
Total income 13.49 19.28 19.45 (30.03) (30.64)
Total operating income 13.48 19.24 19.40 (29.94) (30.52)
EBITDA -1.38 0.02 1.59 NM NM
Depreciation and amortisation 0.58 0.63 0.59 (7.94) (1.69)
EBIT -1.96 -0.61 1.00 NM NM
Interest 1.17 1.55 1.10 (24.52) 6.36
PBT -3.12 -2.12 -0.05 NM NM
Reported PAT -3.12 -1.93 -0.05 NM NM
Adjusted PAT -3.12 -1.93 -0.05 NM NM
Per share data (Rs.)
Diluted EPS* NM NM NM NM NM
Profitability ratio (%)
EBITDA margin -10.24 0.10 8.21
Adjusted PAT margin -23.13 -10.01 -0.24
Source: BSE, ACE Equity and CARE Research
Peer comparison Quarter ended Dec 31, 2016
Income statement (Rs. crore) STONEIN TATAMOTORS CEBBCO GUJAPOLLO
Total income 13.49 11315.58 21.37 15.89
Total operating income 13.48 11221.63 21.32 12.44
EBITDA -1.38 76.46 1.12 -1.34
Ordinary PAT -3.12 -1045.94 -7.67 0.65
Adjusted PAT -3.12 -986.61 -7.67 0.65
Per share data (Rs.)
Diluted EPS* NM NM NM 0.47
Growth (Y-o-Y) (%)
Growth in total income -30.03 -2.02 -4.18 -26.00
Growth in Total operating income -29.94 1.50 -3.93 -30.67
Growth in EBITDA NM -84.63 NM NM
Growth in adjusted PAT NM NM NM NM
Growth in EPS* NM NM NM NM
Profitability ratio (%)
EBITDA margin -10.24 0.68 5.25 -10.81
Adjusted PAT margin -23.13 -8.72 -35.89 4.07
Valuation ratios (Times)
Price/EPS (P/E) (TTM) NM NM NM 23.49 Source: BSE, ACE Equity and CARE Research Note: STONEIN: Stone India Ltd., TATAMOTORS: Tata Motors Ltd., CEBBCO: Commercial Engineers & Body Builders Company Ltd., GUJAPOLLO: Gujarat Apollo Industries Ltd. NM: Non Meaningful
3 Initiative of the BSE Investors’ Protection Fund
Stone India Limited
DISCLOSURES Each member of the team involved in the preparation of this research report, hereby affirms that there exists no conflict of interest that can bias the research on the company. DISCLAIMER Please refer to our detailed disclaimer mentioned on the last page of the initial report on this company. Published by Credit Analysis & Research Ltd Head Office: 4th Floor Godrej Coliseum, Off Eastern Express Highway, Somaiya Hospital Road, Sion East, Mumbai – 400 022. Tel: +91-22-67543456|Fax: +91-22-67543457|www.careratings.com|
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