September results and 50 percent Sweden stake acquisition approved
EMMBI · price
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The board approved the results and a Sweden acquisition. Company-only gross sales rose to Rs 888.46 million from Rs 775.21 million. Half-year profit before tax was Rs 53.80 million for the company and Rs 59.96 million for the group; company-only operating cash flow was negative. Floods in Silvassa caused stock losses; insurance cover is in place and the claim is pending. The deal buys 50 percent of non-trading Britpac AB in Sweden for cash.
Low profit and negative company-only cash flow may pressure the stock. The insurance claim and overseas expansion offer potential upside.