BHANSALI ENGINEERING POLYMERS LIMITED
RESULTS
FOR THE FOURTH QUARTER
Q4
FY 2017-18
BHANSALI ENGINEERING POLYMERS has reported good results
for the fourth quarter ended March 2018.
Total income has increased by 38% YoY and 17% QoQ. Net profit
has increased by 87% YoY and -0.97% QoQ.
The Net profits would have been much higher but for 2
factors explained in Note.12 of the results as below :
“The increase in expenses was caused due to (i) Forex
loss of Rs.682.18 lakhs on account of huge fluctuations specifically in the 4th
quarter. (ii) Debtors write-off of Rs.855.72 lakhs constituting 0.71% of the
Gross Annual Turnover as it is not recoverable at all despite stringent legal
action taken against such defaulter.”
These seem to be one time-off aspects for this 4th
quarter and will not affect future 3 quarters to this extent as
implied in the Note given by Management. This means that the Net Profit, EPS
etc would have been much higher in Q4, if the effect of these 2 non-recurring
factors is put aside.
Also, it is understood that the company has repaid the full debt and therefore, there will be no/very meager finance costs in future.
The company is taking up construction of 200 KTPA GREEN FIELD ABS PROJECT near Papavav Port, Gujarat.
Recommended Dividend of 30% (30Ps on FV of Rs.1)
AGM will be on 14th July,2018.
Also, it is understood that the company has repaid the full debt and therefore, there will be no/very meager finance costs in future.
The company is taking up construction of 200 KTPA GREEN FIELD ABS PROJECT near Papavav Port, Gujarat.
Recommended Dividend of 30% (30Ps on FV of Rs.1)
AGM will be on 14th July,2018.
Bhansali has huge expansion programs which will augur
well for the company and its investors. It seems to have commissioned one such
expansion before 31st March and the benefits thereof will therefore accrue
from Q1 onwards. Other expansions are ongoing.
BHANSALI ENGG
|
Q4 FY18
|
Q3 FY17
|
Q4FY17
|
YOY
|
QOQ
|
FY18
|
FY17
|
INCREASE
|
TOTAL INCOME
|
307
|
263
|
223
|
37.67
|
16.73
|
1205
|
704
|
71.16
|
TOTAL EXPENSES
|
261
|
218
|
198
|
31.82
|
19.72
|
918
|
656
|
39.94
|
PB T
|
45.68
|
45.08
|
24.98
|
82.87
|
1.33
|
154
|
57
|
170.18
|
NET PROFIT
|
28.6
|
28.88
|
15.28
|
87.17
|
-0.97
|
100
|
35.45
|
182.09
|
TOTAL COMPRE.INCOME
|
28.39
|
28.88
|
15.28
|
85.8
|
-1.7
|
99.8
|
34.89
|
186.04
|
EQUITY
|
16.59
|
16.59
|
16.59
|
0
|
0
|
16.59
|
16.59
|
0
|
EPS(FV Rs.1)
|
1.72
|
1.75
|
0.95
|
81.05
|
-1.71
|
6.03
|
2.14
|
181.78
|
MP
|
207
|
207
|
||||||
PE
|
30.09
|
34.33
|
||||||
PRICE TREND
|
1 week
|
2 week
|
1 month
|
3 month
|
6 month
|
9 month
|
1 year
|
|
Price
|
198.05
|
178.85
|
169.8
|
209.1
|
112.95
|
76.5
|
37.85
|
|
Gain / Loss
|
4.34%
|
15.54%
|
21.70%
|
-1.17%
|
82.96%
|
170%
|
446%
|
Note : This does not
constitute a BUY, SELL or HOLD recommendation.
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