Shares of Vadilal Industries
hit a 52-week low of Rs 588, down 20% on the BSE
in intra-day trade on the back of heavy volumes in an otherwise strong market.
In past five trading sessions, the stock has slipped 26% from Rs 795 on August 10, after the company reported 5.8% year on year decline in operational revenue of Rs 2.29 billion in June 2018.
The company said it has been booking revenues on ex-factory basis, not bearing cost of transportation/storage till C&F locations thereby reducing reported Q1FY19 revenues. The comparable revenues grew by 9% yoy.
The net profit for the quarter was improved by 31% to Rs 323 million from Rs 248 million in Q1FY18. EBITDA margin for the quarter were higher by around 760 bps on account of higher volumes, lower input costs and focus on efficiencies, it added.
recorded 9% volume growth in India during the peak ice cream
season this summer. During FY18, the company reported 14% growth in consolidated revenues, including about 10% volume-driven growth in the standalone revenues.
The stock of Vadilal Industries
has almost halved from its 52-week high of Rs 1,174 touched on September 2017 in intra-day trade.
At 01:35 pm; the stock was trading 17% lower at Rs 610, as compared to 0.92% rise in the S&P BSE
Senex. A combined 240,659 equity shares changed hands as compared to an average sub 30,000 shares were traded daily in past two weeks on the BSE
Being India’s pioneer brand in the Icecream industry, Vadilal Industries
is primarily engaged in food segment business.