Bhushan Steel - 4QFY2013 Result Review - Angel Broking

Bhushan Steel reported its 4QFY2013 results. Net sales was flat yoy atRs. 2,819cr. However, EBITDA decreased by 2.5% yoy to Rs. 921cr on account of increase in employee costs and other expenses. Depreciation expense increased 27.2% yoy to Rs. 210cr on account of increased capacity and consequently, net profit decreased by 15.0% yoy to Rs. 280cr.

We maintain our Neutral view on the stock.

Source : Equity Bulls

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