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for Industry - Shipping
However, PAT grew 358% to | 17 crore (I-direct estimate: | 3 crore), mainly due to higher other income (| 15 crore in Q4FY18 vs | 6 crore in Q4FY17) and lower tax rate (15% in Q4FY18 vs 36% in Q4FY17) EBITDA growth revival visible in FY18 For FY18, revenues were flattish with growth of 1% to | 592 crore vs. | 586 crore in FY17. However, the EBITDA margin has improved 280 bps YoY to 22.8% in FY18. The improvement in EBITDA margin has been owing to fuel expense as a percentage of sales declining 200 bps from...
In addition to a weak operational performance, higher interest expense (up 8% YoY) coupled with increase in depreciation (up 19% YoY) led DCI to report a loss of | 22.5 crore (I-direct estimate: | 2.1 crore) Sluggish YTD performance; revival to take some time DCI posted five-year low revenues of | 119.9 crore (vs. a normal run rate of | 140-160 crore. For 9MFY18, revenues de-grew 6% YTD to | 428.4 crore vs. | 455.7 crore in 9MFY17. However, benefiting from lower crude prices in FY18, EBITDA for the same period grew marginally by 6% YoY...
ICICI Securities Ltd | Retail Equity Research Revenues sequentially de-grew 7% QoQ (down 5.1% YoY) to | 898 crore (I-direct estimate: | 861 crore). A sustained recovery in Baltic Dry Index (BDI) led bulk segment revenues to nearly double to | 66.3 crore (vs. | 36 crore in Q4FY16). In addition to the same, a revival in the container market also led to revenue growth of 41% to | 133 crore in its liner division. The outperformance was completely offset by a weakness in tanker markets, which forms 72% of its total revenues...
ICICI Securities Ltd | Retail Equity Research Revenues de-grew 26% YoY (down 14% QoQ) to | 130 crore (I-direct estimate: | 180 crore) compared to | 176.7 crore in Q4FY16 and | 152 crore in Q3FY17. Revenues continue to stay impacted with Kolkata port scaling down its dredging expenses On account of a deceleration in execution, operating expenses degrew 31% YoY. Also employee expenses de-grew 49%. The resultant EBITDA grew 25% YoY (down 9% QoQ) to | 36.5 crore (I-direct estimate: | 52.7 crore). Following this, EBITDA margins were at 28%...
ICICI Securities Ltd | Retail Equity Research GE Shipping's Q4FY17 revenues de-grew 15% YoY to | 746.5 crore (Idirect estimate: | 853 crore). Offshore revenues continued to tread down for a seventh consecutive quarter with a decline of 37.4% YoY to | 262 crore (lowest since FY13). Revenues from the shipping segment grew 13% YoY to | 622.8 crore Higher fuel expenses (up 27% YoY) and lowest ever utilisation levels in offshore segment resulted in EBITDA de-growth of 23% YoY to | 328.2 crore (vs. I-direct estimate: | 443.6 crore). EBITDA margins...
ICICI Securities Ltd | Retail Equity Research Revenues declined 2% YoY (up 27% QoQ) to | 964.9 crore (I-direct estimate: | 838.1 crore). Revenues from tanker segment (77% of total revenues) grew 12% YoY to | 745.9 crore. However, offshore and bulk segment de-grew for a third consecutive quarter with a YoY decline of 39% and 30%, respectively in Q3FY17 Higher charter hire expenses (up 63% YoY) were partly offset by lower repair & maintenance charges (down 22% YoY). Subsequently,...
ICICI Securities Ltd | Retail Equity Research Gesco's revenues for Q2FY17 de-grew 23% YoY to | 749.4 crore (Idirect estimate: | 833.7 crore). On account of historic low utilisation levels for offshore segment, revenues of the segment de-grew 22.5% YoY to | 357.5 crore. However, with a recovery in BDI and tanker rates, revenues from the shipping segment grew 6% YoY to | 569.4 crore. Total revenue days for the shipping & offshore segment were at 3428 days and 1723 days, respectively Lower utilisation levels in the offshore segment coupled with higher...
