Q3FY19: Promoters increase stake in Bodal Chemicals despite muted results

Bodal’s revenues for the quarter ended December 2018 stood at Rs. 334.84 crore as against Rs. 309.25 crore for the corresponding quarter last year, up 8.27 per cent YoY.

On Wednesday, the company reported a PAT of Rs. 28.47 crore with an EPS of Rs. 2.6 per share for the quarter ended December 2018 as against Rs. 29.49 crore with an EPS of Rs.2.56 per share for the corresponding quarter last year, registering degrowth of 3.46 per cent. The EBITDA margin fell to 16.79 per cent for the quarter ended December 2018 as against 17.63 per cent for the same period last year. 

However, despite this Bodal’s promoters increased their holding in the company to 57.43 per cent as against 55.69 per cent in the quarter ended September 2018.

Bodal Chemicals is among the world’s largest manufacturer and exporter of Dyes Intermediate, Dyestuff and Sulphuric Acid and has a presence across the dyestuff value chain.

On Wednesday, the stock of Bodal Chemicals was trading at Rs. 99.40 per share and made an intraday high and low of Rs. 103.75 and Rs.97 on the NSE. The stock had hit its 52-week high of Rs. 156.40 on May 31, 2018 and its 52-week low was Rs. 95.5 in October 1, 2018 on the NSE.