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Asahi India Glass net profit likely to surge in March quarter

Post Time:May 25,2016Classify:Company NewsView:646

Asahi India Glass, a leading automobile component player in the country, will announce its financial results for the fourth quarter ended March 31, 2016 on May 24.

China Glass Network



As per IIFL’s forecast, the company is expected to register a net revenue of Rs.544 crore, a rise of 1.6% qoq and 2.7% yoy.

Operating profit margin of the company is likely to be at 18.6%, growing at 13 bps yoy and 22 bps qoq.

IIFL estimates the company’s net profit to be at Rs.23 crore, which constitutes a growth of 28.5% yoy and 9.2% qoq.

According to IIFL estimates, autos are to register strong PAT growth (32.4% yoy) with most major players doing well. Auto volumes were robust across segments, except cars. OPM of most companies under coverage will rise on account of benign commodity prices and operating leverage.

Auto component players are expected to see another quarter of decent growth as revenues rise on the back of good OEM demand and margins expand as a result of benefits of operating leverage. Replacement demand in certain segments such as tyres has also started picking up.

Other key quarterly results on May 24 include Adlabs Entertainment, Amara Raja, Bajaj Finance, Cipla, Colgate, Dhanuka agritech, Greenply, Gujarat State Fertilizers & Chemicals, Jammu & Kashmir Bank, J Kumar InfraProject, Jubilant Life Sciences, MOIL, NCC, NRB Bearings, Page Industries, Redington India, Setco Automotive, Tata Global Beverages, Tech Mahindra, and Wonderla.

Our preview coverage universe of 374 companies, representing ~75% of India’s equity market cap is expected to report 4.2% yoy drop in net profit in Q4 FY16. On a qoq basis, profits will rise by 17% on account of low base of preceding two quarters, which had witnessed sequential PAT declines.

 

Source: www.indiainfoline.comAuthor: shangyi

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