Bombay Rayon Fashions Limited - First quarter results - Q1 FY 2013 -

Bombay Rayon Fashions Limited

First quarter results

Q1 FY 2013

Bombay Rayons Fasions Ltd has declared its results for the first quarter ending June,2012.

HIGH LIGHTS

Net Sales for Q1 FY 2013 stands at Rs.765.16 Cr; down by -3.89% from Q4 FY 2012 (Rs.796.12 Cr); and up by 26.72% from Q1 FY 2012 (Rs.  603.82 Cr). Thus, sales are decently Higher YoY, though FLAT on QoQ.

Total Expenditure for Q1 FY 2013 stands at Rs.631.90 Cr; up by    0.2% from Q4 FY 2012 (Rs.630.67 Cr); and up by      28.09% from Q1 FY 2012 (Rs.493.31Cr).   Expenditure has gorwn more than proportionately compared to growth in Net Sales

EBITDA       for Q1 FY 2013 stands at Rs.133.26 Cr; down by  -19.46% from Q4 FY 2012 (Rs.165.45 Cr); and up by  20.59% from Q1 FY 2012 (Rs.110.51Cr).   On YOY basis, the increase is decent; but, QoQ, the fall is Big.

Net Profit   for Q1 FY 2013 stands at Rs.49.62 Cr; up by       19.36% from Q4 FY 2012 (Rs.41.57 Cr); and down by        -12.66% from Q1 FY 2012 (Rs.56.81 Cr).  At Net Profit level, the trend is reversed. QoQ, it is Higher, but YoY, it has dipped. This is mainly reduced Tax expenses in  previous quarter and increased tax expense in Corresponding Quarter. Overall, the results show no great improvement at any level.

Diluted EPS          for Q1 FY 2013 stands at Rs.3.53 – against Rs.2.88 in Q4 FY 12;and Rs.4.05 in Q1 FY 12; The same in Q3 FY 12 was Rs.3.77; and in Q2 FY 12, it was Rs.3.97.

Paid-up Equity       13460;     Face Value : (Rs )        10;

Public Share holding percentage in the company is currently very low.

RESULTS TABLE

BombayRayon	30-Jun-12	QoQ % Dif	31-Mar-12	YoY % Dif	30-Jun-11	31-Dec-11	30-Sep-11
Net Sales	76516	-3.89	79612	26.72	60382.21	70093.23	63408.66
Total Expenditure	63190	0.2	63067	28.09	49331.32	57223.46	52386.23
EBITDA	13326	-19.46	16545	20.59	11050.89	12869.77	11022.43
Net Profit	4962	19.36	4157	-12.66	5681.18	5371.52	5441.58
Diluted EPS	3.53	22.57	2.88	-12.84	4.05	3.77	3.97
Net Sales	76516	-3.89	79612	26.72	60382.21	70093.23	63408.66
Total Income	76516	-3.89	79612		-	-	-
Changes in inventories of FG, WIP and SIT	-3518	-74.07	-13569	-25.52	-4723.55	-6755.54	-7102.57
Cost of materials consumed	46685	-15.14	55016	24.14	37606.56	42372.98	35915.55
Employee benefits expense	4510	-19.85	5627	-18.15	5510.27	5791.59	6087.6
Depreciation and amortisation expense2	6564	4.07	6307	67.68	3914.69	5684.95	5816.49
Total Expdr(Excl. O/Exp)	54241	1.61	53381	28.21	42307.97	47093.98	40717.07
Other expenses	8949	-7.61	9686	27.42	7023.35	10129.48	11669.16
Total expenses	63190	0.2	63067	28.09	49331.32	57223.46	52386.23
Profit before tax	7189	-31.57	10505	1.32	7095.3	6505.62	6658.86
Tax Expenses	2227	-64.98	6359	57.48	1414.12	1134.1	1217.28
Net Profit	4962	19.36	4157	-12.66	5681.18	5371.52	5441.58
Face Value  (Rs )	10	0	10	0	10	10	10
Paid-up Equity	13460	0	13460	1.89	13210	13460	13460
Basic EPS	3.72	22.37	3.04	-14.68	4.36	3.98	4.12
Diluted EPS	3.53	22.57	2.88	-12.84	4.05	3.77	3.97
Public Shareholding (%)	6.85	0	6.85	-89.79	67.1	6.85	65.85

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