Century Enka
A part of the BK Birla group of companies, the company has three plants - Pune, Konkan Synthetic Fibres; Mahad in Maharashtra & Rajashree Polyfil - Bharuch in Gujrat, producing Nylon & Polyester Filament Yarns. The Q2FY16 numbers were not encouraging as it slipped on all profitability parameters. Net sales for the quarter dropped 7% (YoY) at Rs.289 crore. Costs were down 4%, led mainly by 14% drop in raw material costs. That did not help the EBITDA which was down 23% at Rs.27 crore while margins slipped from 11.25% t0 9.34%. Other income was down 66%. It ended the quarter with a 11% drop in net profit at Rs.11 crore.
Its net profit for H1FY16 was at Rs.25 crore which is 69% of FY15 net profit. Annualised EPS is at Rs.23. Debt at end of Q2 currently is down from Rs.139 crore to Rs.63 crore and cash has also come down from Rs.5 crore to a mere Rs.2 crore.
In terms of shareholding, as at 30th Sept 2015, promoters total stake was 31.39% in which Kesoram Inds owns 6.14% and Century Textiles holds 5.8%. And typical od Birla companies, LIC holds a high 6.93% stake.