The company's revenue rose to Rs 42,424 crore from Rs 33,705 crore, YoY.
Shares of Tata Steel gained more than 4 percent in the early trade on Friday after company reported its fourth quarter numbers on April 25.
The company's consolidated profit fell 76 percent to Rs 2,431 crore versus Rs 10,153 crore, YoY but on sequential basis (QoQ) it registered 4 percent jump from Rs 2,334 crore.
The company's revenue rose to Rs 42,424 crore from Rs 33,705 crore, YoY.
The company board approved composite scheme of amalgamation of Bamnipal Steel and Tata Steel BSL into and with Tata Steel.
The company recommended a dividend of Rs 13 per ordinary share of Rs 10 each and Rs 3.25 per partly paid ordinary share of Rs 10 each to the shareholders of the company for the Financial Year ended March 31, 2019
CLSA has maintained sell call on the stock with a target at Rs 395 per share.
The broking firm expect margin to remain under pressure in FY20, meanwhile its Q4 consolidated EBITDA up 1 percent QoQ but missed estimates by 3 percent.
The Indian EBITDA/t fell sharply on lower steel prices and an adverse mix. The stock is trading at an expensive 6.3x 20 EV/EBITDA, it added.
According to Morgan Stanly the standalone EBITDA miss is reflecting weaker realisation, while EBITDA miss offset by the strong core performance in Europe.
Europe performance drives broadly in-line consolidated EBITDA. Also net debt reduced by Rs 6,200 crore sequentially & this remains a focus.
The domestic expansion & EU restructuring are on track. Thyssen JV, once executed, will lead to debt reduction of €2.5 billion, it feels.
At 09:36 hrs Tata Steel was quoting at Rs 533.75, up Rs 22.85, or 4.47 percent on the BSE.
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