V-Guard India - Q4 FY13 Result First Cut - Microsec

V-Guard India Ltd Net Sales increased by 39% YOY to INR379 crore YOY whereas its EBITDA decreased by 40% YOY to INR20 crore on back of higher advertisement and raw material expenses. EBITDA Margin of the company decreased from 12.1% to 5.3% YOY. PAT decreased by 53% YOY to INR9 crore. The Result was well below estimates.

FY13 Annual Result

In FY13, the company's Net Sales increased by 41% YOY to INR1360 crore YOY and it's EBITDA increased by 18% YOY to INR110 crore. EBITDA Margin of the company decreased from 9.7% to 8.1% YOY. PBT increased by 19% YOY to INR82 crore. PAT increased by 24% YOY to INR63 crore due to lower taxes. At the CMP of INR503, the stock is trading at a P/E of 23.8x on its FY13 EPS of INR21.1.

Source : Equity Bulls

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