Emami hits a new high

Emami hit a record new high today at Rs.1367.90 but after that it has come down, barely holding onto the green at 1% over previous close.

The new high was the immediate reaction to the exciting Q1Fy16 numbers posted by the company. It posted a very healthy 24% (YoY) jump in consolidated net profit at Rs.88 crore on a 21% increase in total income at Rs.608 crore.

EBITDA for the quarter rose 33% at Rs.100 crore and margins rose to 16.95% v/s 15.56%. Other income was down 18% and interest cost showed an over 5 times rise to Rs.4.34 crore. This was more or less offset by the good reduction in tax outgo – from Rs.21 crore to Rs.4 crore. Total costs also showed an increase of 20%. So if the company’s topline had shown a commensurate rise, the bottomline would have suffered. Thanks to the higher sales, the company ended the quarter with a very good bottomline.