MOIL Ltd - 4QFY2013 Result Review - Angel Broking

MOIL's 4QFY2013 top-line was higher than expectation whereas the bottom-line was broadly in line with our expectations. Net sales increased by 32.2% yoy to Rs. 267cr (above our estimate of Rs. 222cr) due to higher sales volumes and realizations. EBITDA also increased by 26.7% yoy to Rs. 109cr but EBITDA margin declined 167bps yoy to 40.8%. Other income declined by 4.7% yoy to Rs. 60cr. Net profit increased by 11.1% yoy to Rs. 110cr which was in-line with our estimate of Rs. 113cr.

We maintain our Buy rating on the stock with a target price of Rs. 243.

Source : Equity Bulls

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