Usha Martin - Q2FY13 Result First-Cut - Microsec

Usha Martin Ltd, announced its Q2FY13 results on 6th November, 2012.

The company's net sales arrived at INR938.98 crores, which was significantly up by 13.35% and 10.98% on YoY and QoQ basis due to 30% higher production of iron ore, 19% higher production of Billets. The EBITDA for the quarter was INR173.48 crore, which was uo by 19.31% on YoY basis and 73.48% on QoQ basis. The EBITDA margin was up by 94bps and 666bps on YoY and QoQ basis. The company posted a net profit of INR23.87 crores, after posting a net loss of INR62.69 crore on YoY basis.

Hence, at the CMP of INR31.45, we still recommend a "BUY" for the stock Usha Martin with a target price of INR35.5 per share.

Source : Equity Bulls

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