DSIJ Mindshare

Prism Cement Net Profit Contracts On Higher Finance Cost

The company's topline recorded 10% of growth on yearly basis to Rs 1524 crore in Q4FY14 against Rs 1383 crore in Q4FY13 on account of good performance of Tiles, Bath & Kitchen (TBK) segment. Further EBITDA of the company showed marginal growth of 4.4% yoy and stood at Rs 119 crore in Q4FY14 against Rs 114 crore in same period last year. 

EBITDA of the company recorded only marginal growth due to rise in cost of purchase in trade goods that went up by 28% yoy to Rs 350 crore in Q4FY14 which is 23% of total operating income where it was 20% of total operating income in Q4FY13. However, other operating expenses like employee cost, cost of material, power & fuel etc. grew in proportion of revenue. 
 
Bottomline of the company fell by 23% to Rs 11 crore in Q4FY14 against Rs 14 crore in Q4FY13 on account of sharp increase in finance cost of the company that went up by 26% to Rs 62 crore in Q4FY14 during the said period.

Coming to segment wise performance, TBK segment of the company which contributes 41% of the total revenue grew by 18% to Rs 624 crore in Q4FY14 against Rs 529 crore in same period last year. Cement segment (account for 39% of total revenue) recorded a marginal growth of 5% to Rs 593 crore in said period against Rs 565 crore in Q4FY13. RMC division also showed a decent growth of 7% and stood at Rs 311 crore during Q4FY14 against Rs 292 crore in same period last year.  

As far as its whole year (FY'14) performance is concerned, the company did not perform well during said period. Topline of the company marginally grew by 4.5 % to Rs 5040 crore in FY'14 against Rs 4820 crore in last fiscal year. However, operating EBITDA of the company dropped by 41% and came down to Rs 179 crore during the said year against Rs 305 crore in FY'13. Further its bottomline recoded loss of Rs 86 crore against loss of Rs 62 crore in last fiscal year on account of increase in finance cost.

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