MAFATLAL INDUSTRIES
By
Ruma Dubey
about 7 years ago
This company, once the doyen of Indian textile industry, has had a dismal Q3FY17 performance. In Q2, there was the exceptional income of Rs.9 crore by selling stake in Navin Fluorine which came to its rescue but in Q3, with no such fallback, the company has slipped into the red.
Despite a 7% (YoY) rise in net sales at Rs.274 crore, the 35% increase in raw material prices and 9% rise in total costs did it in. The company ended Q3 with a net loss of Rs.12.5 crore v/s profit of Rs.10 crore in Q2 and Rs.2 crore profit in previous Q3.
With an equity of Rs.13.91 crore, the annualized EPS stands at Rs.5 (FV of Rs.10). Another one of those companies, which were bright stars in an era gone by but now remain mere carcasses of the past.