Atul Reports Robust Earnings
Atul, India's chemical manufacturing company, operates in diversified sectors like agriculture, construction, cosmetics, homecare etc. The company today announced its quarterly results for the the quarter ended 30th June, 2014. The stock of the company surged by 12.59% in today's trade and closed at Rs 1215.30 after reporting robust quarterly results. Meanwhile, tracking the movement of the stock, it opened at Rs 1084 and touched a 52-week high of Rs 1150.
The company witnessed a topline growth of 25% at Rs 647 crore against Rs 517 crore in the corresponding quarter previous year. The substantial rise in the sales was aided by growth in the life science chemicals by 7% which came in at Rs 177.29 crore and other chemicals by 30% which came in at Rs 496.9 crore of the total sales respectively. Meanwhile the company's bottomline witnessed a robust growth of 47% at Rs 59.68 crore against Rs 40.45 crore in the corresponding quarter previous year. The promoters did not pledge any shares which show signs of good corporate governance. The Earnings Per Share (EPS) of the company stood at Rs 20.15 as on 30th June 2014.
On standalone basis, the numbers were in line with the street expectations. The EBITDA margin of the company was up by 13%, showing an improvement of over 300 basis points. Adjacently the PAT margins were up by 9.23%.