Q2 revenue up 15%, profit down 14%; Rs 4 interim dividend declared
SIYSIL · price
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On the reaction day the stock moved 3.0 pts less than Nifty Microcap 250 and 2.9 pts less than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Consolidated Q2 revenue rose 15.3% year on year to Rs 813.58 crore, but profit fell 14.1% to Rs 74.50 crore. H1 revenue rose 15.0% to Rs 1,259.24 crore, while profit fell 6.4% to Rs 85.51 crore. A Rs 4 interim dividend was declared. The auditor flagged recurring losses and funding dependence at Cadini; the review conclusion was not modified. Bonus preference shares were reclassified as borrowings. A one-off property project involved Rs 26.51 crore in costs.
Revenue growth and the dividend support sentiment, but lower profit, weaker margins, preference share debt and Cadini funding needs may cap gains.