Prestige Estates

The company announced its numbers during market hours and the stock, enthused by the very encouraging numbers, closed almost 11.5% up. It reported the highest ever quarterly domestic sales for Q2FY16 at Rs.422 crore, up 10.5% while exports saw a marginal less than 1% drop at Rs.8.55 crore. Total income for the quarter was at Rs.430 crore, up 10%. EBITDA was at Rs.95 crore, up 9% and margins rose from 11.61% to 12.73%, helped by good topline and lower commodity prices. Net profit for the quarter came in at Rs.34 crore, up 21%.

The company had an overall good Q2 led by good growth in North India while South remained largely sluggish. Appliances segment showed a 16% growth in terms of value and this segment contributes 41% to topline. Cookers showed a 10% increase while microwave cookers showed a 67% degrowth. The company hopes that Q3 could be better due to festive demand but deficit monsoon could dilute some of its Q3 hopes.