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Tube Investments of India Ltd standalone PBT at Rs. 95 crore

Posted On: 2020-01-28 16:59:41

The Board of Directors of Tube Investments of India Limited (Til) met today and approved the financial results for the Quarter ended 31st December 2019.

Highlights:

- Revenue of Rs.976 Cr. in the quarter with a drop of 27% over Q3 of last year mainly because of de-growth in Auto Industry.

- PBT (before exceptional item) of Rs.95 Cr, as against Rs.93 Cr in Q3 of last year (excluding the special dividend of Rs. 29 Cr received from Shanti Gears Limited in Q3).

- For the period ended 31st December 2019, ROCE improved to 21% from 20% in the corresponding period Previous year (excl. exceptional item)

- Cumulative Free cash flow at Rs.341 Cr., and at 133% to PAT

- The Company has opted for lower tax rate of 22% and the resultant benefit is being recognised over 3 Quarters.

Standalone Results

Til's Revenue for the quarter was lower by 27% at Rs.976 Cr. as against Rs.1341 Cr. in the corresponding quarter of the previous year. The profit after tax for the quarter was at Rs.78 Cr. as against Rs.77 Cr. in the corresponding quarter of the previous year. Return on Capital Employed (ROCE) for the period ended 31st December 2019 is at 21% as against 20% in the corresponding period of the previous year. The Company generated cumulative free cash flow of Rs.341 Cr. and at 133% of PAT.

Consolidated Results

Til's consolidated Revenue for the quarter was Rs.1 087 Cr. as against Rs.1458 Cr. in the corresponding quarter of the previous year. The profit after tax for the quarter was at Rs.82 Cr. as against Rs.65 Cr. in the corresponding quarter of the previous year.

Shanthi Gears Ltd., a subsidiary company in the Gears Business, in which the Company holds 70.47% stake, registered revenue of Rs.58 Cr. during the quarter as against Rs.62 Cr. in the corresponding quarter of the previous year. Profit before tax for the quarter was at Rs.8 Cr. as against Rs.12 Cr. in the corresponding quarter of previous year.

Shares of Tube Investments of India Ltd was last trading in BSE at Rs.512.8 as compared to the previous close of Rs. 521.55. The total number of shares traded during the day was 1300 in over 270 trades.

The stock hit an intraday high of Rs. 530 and intraday low of 506.55. The net turnover during the day was Rs. 675434.


Source: Equity Bulls

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