CESC - Q4FY13 Result First Cut - Microsec

CESC Ltd announced its Q4FY13 as well as FY13 results on 28th May 2013.

The company has posted a standalone profit of Rs 256 Crore for the fourth quarter ended March 31, 2013 as compared to profit of Rs 255 Crore for the quarter ended March 31, 2012, representing an increase of 0.39%. Total income has increased from Rs 1040 Crore for the quarter ended March 31, 2012 to Rs 1513 Crore for the quarter ended March 31, 2013, representing an increase of 8.77%.EBITDA Margin of the company increased from 25.58% to 30.34% QoQ registering an increase of 476bps.

The topline came at INR7571crores which shows a staggering growth of ~28% YoY while consolidated bottomline came at INR481crores which is up by 87% on YoY basis. Both the EBITDA & PAT margins has improved on yearly basis. The company has declared a dividend of INR7.00(~70%) per equity share.

We have covered CESC and maintain our target price of INR372.00 for the scrip.

Source : Equity Bulls

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