Saturday, November 6, 2021

NOCIL Ltd Q2 PAT up 78.3% yoy | Stock Outlook

     


NOCIL Ltd Q2 PAT up 78.3% yoy at Rs29.99cr as revenue growth offsets spike in raw material costs

NOCIL Ltd reported 69.3% higher total revenues for the Sep-21 quarter on consolidated basis at Rs375.16cr



NOCIL Ltd reported 69.3% higher total revenues for the Sep-21 quarter on consolidated basis at Rs375.16cr. The revenues were up 8.90% on a sequential basis compared to Rs344.50r in the Jun-21 quarter.


Net profits for the Sep-21 quarter were up 69.3% on yoy basis at Rs29.99cr. On a sequential basis, the net profit was lower by -36.74% compared to the Jun-21 quarter profits of Rs47.41cr.

NOCIL is into the manufacture of rubber chemicals and the auto components industry is a key consumer. The sales growth on yoy basis was the key driver, which more than offset the spike in yoy raw material costs by 90.1% to Rs230cr.

Net margins at 7.99% in the Sep-21 quarter was higher than 7.59% in the Sep-20 yoy quarter but lower than 13.76% in Jun-21 sequential quarter. Net cash from operations in Q2 was negative due to working capital pressures.

Stock Outlook

250 is good support zone for the stock , can test 318 - 331 in short term.




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