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Stock Report
RSWM FY 2007 net profit up 63% to Rs.440.7 million, Cash profit higher by 17%
Posted On : 2007-04-24 20:04:35( TIMEZONE : IST )
Noida, Tuesday - 24 April 2007: RSWM Limited, a leading integrated player in the textiles sector in India, today announced its audited results for the quarter and year ended March 31, 2007.
Commenting on the financial results, Mr.Riju Jhunjhunwala, Joint Managing Director, RSWM Ltd, said: "I am happy to report a strong performance for FY2007, where we assisted by improved cash-flows from expanded capacities. During the year we also witnessed a robust demand environment for both cotton and synthetic yarn and going forward we expect this positive trend to continue.
We completed the acquisition of Cheslind Textiles Ltd during the last quarter at very attractive valuations. This acquisition will assist to enhance our yarn capacities and product mix at an accelerated pace and will help us in taking advantage of the encouraging demand scenario in the yarn sector.
Our expansion and modernization plans announced earlier are all expected to be commissioned as per schedule and will assist RSWM to strengthen its growth prospects in the long term."
During FY2007 RSWM reported a 9% rise in net sales to Rs.10,420 million from Rs.9600 million last yera. EBIDT improved by 17% to Rs.1,168 million as compared to Rs.1,000 million, EBIDT margins were better at 11.2% from 10.4% in the previous year. PBT was higher by 25% at Rs. 487 million and PAT before exceptional items increased by 23% to Rs.334 million. EPS before exceptional items for the full year was at Rs.14.4. For, the year PAT after exceptional items was better by 63% at Rs.440.7 million from Rs.270.8 million in FY2006. EPS after exceptional items was higher at Rs.19 compared to Rs.11.7 in the previous year.
Net sales were higher by 3% at Rs.2941 million from Rs.2846 million in Q4 FY2006. EBIDT during the quarter increased to Rs.335 million from Rs.352 million in the corresponding quarter last year, EBIDT margins were at 12% in Q4 FY2007. PBT for the quarter was lower at Rs.163 million from Rs.194 million in Q4 FY2006. PAT before exceptional items in Q4 FY2007 was at Rs.118 million, resulting in an EPS before exceptional items of Rs.5.1
The stock closed the day at Rs.95.15, up by Rs.1.70 or 1.82%. The stock hit an intraday high of Rs.95.80 and low of Rs.93.50. The total traded quantity was 9301 shares at an average price of Rs.94.86 resulting in a turnover of Rs.8.82 Lakhs.
