Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Prakash Industries Ltd announce Q3FY19 results

Posted On: 2019-01-16 18:15:16

During Q3FY2019, the Company has achieved Net Sales of Rs.1026 Crores and EBITDA of Rs.206 Crores, reflecting growth of 41 % and 35% respectively over the corresponding quarter of the last financial year. After providing for interest, depreciation and tax, the Net Profit of the Company for Q3FY2019 has grown by 40% to Rs.141 Crores as against Rs.101 Crores in Q3FY2018. The increase in the profitability is due to higher production volumes and operational efficiencies.

During nine months ended December 2018, the Company has achieved Net Sales of Rs.2962 Crores and EBITDA of Rs.639 Crores, reflecting growth of 46% and 66% respectively over the corresponding period of the last financial year. After providing for interest, depreciation and tax, the Net Profit of the Company for nine months ended December 2018 has jumped by 89% to Rs.439 Crores as against Rs.232 Crores in the corresponding period of the last financial year.

Highlights:

- 41 % Growth in Net Sales

The Company's quarterly Net Sales has crossed more than Rs. 1000 crores for the first time ever, registering growth of 41 % as against corresponding quarter of the last financial year. Further, the quarterly sales volume at 2,57,484 tonnes has also registered growth of 22% as against corresponding quarter of the last financial year. This was achieved due to higher capacity utilisation and operational efficiencies on account of modernization and enhancement initiatives undertaken by the company.

Steel & Power Division

- 6th Sponge Iron Kiln with 1 SMW WHRB

The company is completing its 5th Sponge Iron Rotary Kiln project by the end of current quarter, adding capacity of 0.20 Million tonnes alongwith 15 MW Waste Heat Power co-generation. This will further improve the operational efficiencies and profitability of the company.

Captive Iron Ore Mine

The company had received Stage-I approval for diversion of Revenue Forest Land from Ministry of Environment, Forest & Climate Change for its Sirkaguttu Iron Ore Mine in Odisha. The company is awaiting final clearances from the competent authorities and expect the mining operation to commence in the current quarter.

PVC Pipes Division

During nine months ended December 2018, the sales volume of PVC Pipes business registered a growth of 12% as against corresponding period of the last financial year.

Demerger of PVC Pipes Division

The hearing of the scheme of arrangement between Prakash Industries Limited and Prakash Pipes Limited (demerger scheme of PVC pipes undertaking) was listed on 10th January 2019 before Hon'ble National Company Law Tribunal, Chandigarh. After the hearing, the order has been reserved by the Hon'ble bench and will be pronounced in a few days. The company expects the Demerger to be effective shortly.

Shares of PRAKASH INDUSTRIES LTD. was last trading in BSE at Rs.96.2 as compared to the previous close of Rs. 96.8. The total number of shares traded during the day was 112019 in over 1174 trades.

The stock hit an intraday high of Rs. 97.4 and intraday low of 94.2. The net turnover during the day was Rs. 10759701.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Ajmera Realty and Infra India Ltd awarded Developer of the Year - Residential category award

CARE reaffirms ratings of Chaman Lal Setia Exports Ltd

Hon'ble NCLAT upholds the Resolution Plan of MBL Infra

Avana's Water Conservation Solution Becomes Best CSR Idea Of The Year

Coffee Day Enterprises Ltd update On Debt Position

Mahindra inaugurates its 1st automotive assembly plant in Sri Lanka, expands global footprint

TVS Motor Singapore invests US$ 3.2 Million in Predictronics Corporation

NACL Industries Ltd reports financial results for Q1 FY20

Precision Camshafts Limited - Q1 FY2020 results

SREI Equipment Finance Ltd's NCD issue opens on Aug 16, 2019

Transform Banking with Newgen at FIBAC 2019

Hero MotoCorp surpasses milestone of 1000 women employees

Sun Pharma and China Medical System Holdings Enter into Licensing Agreement for Generic Products in Mainland China

IFIN & RCFL initiate proceedings against SKIL Infrastructure Ltd

Kridhan Infra Limited - VNC wins new orders worth INR 145 Crores

Ram Ratna Wires Ltd fixes Aug 30, 2019 as record date for dividend

Himatsingka Seide Ltd clarifies on certain media reports

Master Trust Ltd fixes Aug 27, 2019 as record date for sub-division of equity shares

Advik Laboratories Ltd Board to consider sale of manufacturing unit

CARE downgrades ratings of Walchandnagar Industries Ltd

Super Crop Safe Limited announces Financial Results for Q1FY20

Info Edge India Ltd to invest in Shopkirana

Hinduja Ventures Ltd board to consider reorganizaiton of businesses on Aug 23, 2019

Voltas launches new Brand Shop at Gajuwaka, Visakhapatnam

CRISIL downgrades ratings of DCM Ltd

Lupin receives U.S. FDA approval for Hydrocortisone Valerate Cream

Birlasoft Wins Two Oracle Excellence Awards for 2019

TCS Interactive Wins 2019 Red Dot: Best of the Best Award in Brands and Communication Design

Blue Star Ltd - Financial Highlights for Q1 FYF20

Hindustan Foods Ltd - Q1-FY20 Performance Highlights

Omaxe Ltd Consolidated PAT for Q1 FY19-20 at Rs 14.91 cr

QGO Finance Ltd board to consider NCD issue on Aug 21, 2019

Mindteck reports financial results for Q1 2019-20

Ramkrishna Forgings Ltd's resolution plan for ACIL Ltd accepted

KNR Constructions Ltd to sell stake in SPV for Rs. 95.79 crores

Panacea Biotec announces Q1 FY20 results

IOB offers Retail Loans through the online portal PSB Loans in 59 minutes.com

Travel Money with YES BANK to launch Forex Card on Visa network

Mishtann Foods reports 22.1% increase in Q1FY2020 PAT at INR 3.14 crore

India Ratings assigns 'Ind AA- / Negative' For Indian Overseas Bank Bonds

YES BANK raises Rs. 1,930 crores through Qualified Institutions Placement route

Hero MotoCorp Ltd updates on closure of production facilities

Voltas Beko launches India's first 5 Star rated Washing Machines

Titagarh Wagons Ltd consortium bags order for Pune Metro Rail project

PVR launches sub-brand PVR UTSAV in Satna

Brigade Enterprises Ltd fixes Aug 29, 2019 as record date for bonus issue

India Infoline Finance announces consolidated PAT of Rs. 181 crore

West Coast Paper Mills Limited : Q1FY20 Results

Dynacons Systems & Solutions Ltd Board approves interim dividend of Rs. 0.50

Man Industries India Limited reports Q1FY20 Financial Results







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019