Balasore Alloys reports Q3FY18, stock fell 7 per cent

Balasore Alloys' standalone revenue for the quarter came in at Rs. 317.6 crore, registering 15 per cent yoy increase.

EBITDA for the quarter fell by 23.3 per cent yoy to Rs. 35.9 crore with a corresponding margin contraction of 565 bps. EBITDA margin for the quarter stood at 11.3 per cent. The PAT for the quarter came in at Rs. 19.35 crore, yoy decline of 10.3 per cent. The further decline in PAT was restricted by jump in other income to Rs. 13.66 crore against Rs. 3.55 crore in corresponding quarter of last year.

Balasore Alloys Limited is engaged in the manufacturing and mining of Ferro alloys. The company is also engaged in the manufacturing and selling of ferro chrome of various grades. It has over five furnaces with a total capacity of approximately 60 megavolt ampere (MVA) to produce approximately 95,000 million tons (MT) of Ferro alloys per annum. Its products include High Carbon Ferro Chrome (FeCr60) and Low Silicon Ferro Chrome (FeCr65). It has a captive chrome ore mine in Sukinda Valley in Jajpur district in the state of Odisha.

Post announcement of this result, the stock of Balasore Alloys fell almost 7 per cent and touched intr-day low of Rs. 75.15 per share. On Wednesday, the stock close at Rs. 76 per share as against previous close of Rs. 81.4.