RCF Q3 FY13 Results -First Cut.
Rajesh Desai
Dear Sir/Madam,
RCF has announced its Q3 FY13 results on 4th Dec 2013. The top line witnessed de-growth by 2% but gross margin, EBITDA margin and PAT margin jumped by 2546 basis points, 392 basis points and 134 basis points respectively due to very minimal amount of urea import which has been replaced by higher productions of urea and complex fertilizers by 2 lakh tonnes from last year.
On account of higher pay scale and increment, employee cost has gone up by 25%. Furthermore, Interest cost has jumped from Rs 2.5 Mn to Rs 144.4 Mn on yoy basis due to higher borrowing. The company is likely to receive Rs 1,500 cr subsidy after budget and Rs 200 cr receivable in the month of June CY2013. The glimpse of result is as follows:
Regards,
Team Microsec Research
Microsec Capital Limited
Tel: 91 33 30512100
Fax: 91 33 30512020
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CA. Rajesh Desai