Name: Latest research reports of Atul Ltd. authored by Phillip Capital and published by - Trendlyne research reports.
Item: Atul Ltd.
Rating: 1
Author: Phillip Capital

Atul Q1FY17 Update 25July2016

Sell: Atul Ltd.

Recommendation

Phillip Capital

Key highlights: Revenue was better than our expectations due to the excise duty of Rs 394mn asperINDAS; excluding this, saleswere in line. EBITDA marginwas in line and so wasEBITDA.Lowerotherincomeandhigherdepreciation(+45%yoy),resultedinaPBTofRs 950mn (5% below estimates). However, significantly lower tax of 15% (vs. normal tax of 31%) boosted PAT to Rs 805mn (+32% yoy), but on normalised taxes, adjusted PAT stood...