During 2Q FY 2012, JKLC (J K Lakshmi Cement ) reported 33.2% yoy top-line growth
to Rs. 354 cr. The company’s dispatches rose by healthy 29.9% yoy to 1.13 mn tonnes
and realization improved by 2.5% yoy to Rs.3,142/tonne.
JKLC’s operating margin improved by 1.21% yoy to 11.6%, aided by better realization. JKLC’s operating
profit rose by 48.6% during September the quarter.
However, JKLC’s bottom line rose by lower 12.7% yoy to Rs.6.5 cr. The lower growth in the bottom line was on account of higher depreciation (up 37.7% yoy), interest (up 79.6% yoy) and tax expenses (Rs.1.4 cr in 2Q FY 2012 vs. negative tax of 1.7 cr in 2Q FY 2011).
We maintain our Buy rating on the share.
Review by Angle Broking
to Rs. 354 cr. The company’s dispatches rose by healthy 29.9% yoy to 1.13 mn tonnes
and realization improved by 2.5% yoy to Rs.3,142/tonne.
JKLC’s operating margin improved by 1.21% yoy to 11.6%, aided by better realization. JKLC’s operating
profit rose by 48.6% during September the quarter.
However, JKLC’s bottom line rose by lower 12.7% yoy to Rs.6.5 cr. The lower growth in the bottom line was on account of higher depreciation (up 37.7% yoy), interest (up 79.6% yoy) and tax expenses (Rs.1.4 cr in 2Q FY 2012 vs. negative tax of 1.7 cr in 2Q FY 2011).
We maintain our Buy rating on the share.
Review by Angle Broking
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