Tube Investments of India (TUBE) recorded a 2.2 per cent year on year revenue growth for the quarter ended 30th September 2016; Missing topline estimates by 8 per cent. Net profit grew 112 per cent beating estimates by 20 per cent.
TUBE posted a 2.2 per cent year on year revenue growth to Rs 1,061 crores missing analyst expectations by 8 per cent. Revenue growth was supported by engineering segment (~50 per cent of revenue) growing 12 per cent year on year and metal formed products (30 per cent of revenue) growing 20 per cent.
EBITDA grew 12.2 per cent year on year to Rs 101. The EBITDA was supported mainly by inventory benefits and stable costs. Accordingly, EBITDA margin came in at 9.5 per cent; expanding 85 bps.
Net profit grew 112 per cent year on year to Rs 53 crores due to ~60 per cent year on year drop in Finance costs to Rs 16 crores and a 2 fold rise in other income of Rs 18 crores.
Tube Investments of India Limited (which was initially established as TI Cycles of India Limited, Madras) was a Murugappa Group company that specialised in engineering, bicycles, metal formed products as well as chains. It was based in Chennai. It was incorporated as TI Cycles of India Limited in the year 1949, as a joint venture company.
Tube Investments is considered as one of the multibagger stocks out of all the NSE listed stocks by the research and analysis team of Dynamic levels. The company holds very strong fundamentals and the shares of the company have performed consistently well in the past.
Tube Investments share price closed at Rs 654.00, down by 2.69 per cent. The share made a lifetime high of Rs 684.70 by breaking the previous lifetime high of Rs 678.70 that was made on 2nd November 2016 (the day before).
No comments:
Post a Comment