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NSE Oct 21, 2020 15:31 PM
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N R Agarwal Industries Ltd.    
25 Jul 2018

Q1FY19 Result Update

Prabhudas Lilladhar
NR Agarwal (NR) continues to report robust topline growth on back of 13.0% volume and 5.6% value growth. Revenues at Rs 3,325m were up 20.2% YoY but declined 3.7% QoQ. Q4 is seasonally the strongest quarter, hence sequential comparisons would be misleading. Gross margins expanded by ~230bps both YoY and QoQ on back of higher realizations (up by 5.6% YoY and 2.4% QoQ) and lower raw material costs (lower by 1020%) which resulted in EBITDAM of 15.5% (up by ~360bps YoY and ~82bps QoQ). PAT increased by 35.6% YoY and 19.0% QoQ, to Rs 290m and EPS of Rs 17.1. Newsprint (NP) prices shot up by 37.1% YoY and 13.0% QoQ to Rs 44,124/ton. Newsprint prices are witnessing life time highs on back of lower newsprint production in China due...
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