Aditya Birla Nuvo takes U-turn after strong Q4 results

The result was announced during trading hours today, 29 May 2013. The stock had fallen as much as 2.18% at the intraday low of Rs 1,066 earlier today.

Meanwhile, the S&P BSE Sensex was down 15.03 points, or 0.07%, to 20,145.79.

On BSE, 24,000 shares were traded in the counter as against an average daily volume of 28,340 shares in the past one quarter.

The stock hit a high of Rs 1,094.95 and a low of Rs 1,066 so far during the day. The stock had hit a 52-week high of Rs 1190.95 on 23 January 2013. The stock had hit a 52-week low of Rs 726 on 4 June 2012.

The stock had outperformed the market over the past one month till 28 May 2013, rising 6.07% compared with the Sensex's 4.53% rise. The scrip had also outperformed the market in past one quarter, rising 8.23% as against Sensex's 6.89% rise.

The large-cap company has an equity capital of Rs 120.21 crore. Face value per share is Rs 10.

Aditya Birla Nuvo's (ABNL) consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 26% to Rs 1053 crore in Q4 March 2013 over Q4 March 2012.

On a consolidated basis, net profit rose 19% to Rs 1059 crore on 17% increase in revenue to Rs 25490 crore in the year ended March 2013 (FY13) over the year ended March 2012 (FY12). EBITDA rose 27% to Rs 4142 crore in FY13 over FY12.

The company said that its balance sheet was strengthened by an equity infusion of Rs 832 crore by promoters, the dividend income and cash flow from operations.

With Birla Sun Life Insurance and Idea declaring dividend, ABNL has started generating returns on its long term investments in addition to its cash flow from operations. This coupled with the proceeds from the divestment of the carbon black business and the remaining equity infusion by promoters, will further strengthen the company's balance sheet and will support its growth plans, going forward, ABNL said in a statement.

ABNL's standalone net debt to EBITDA was reported at 3.3 times in FY13 compared with 3.6 times in FY12. Net debt to equity was reported at 0.53 times in FY13 compared with 0.66 times in FY12.

Over the years, Aditya Birla Nuvo has successfully ventured into the service sectors viz., financial services (life insurance, asset management, NBFC, private equity, broking, wealth management and general insurance advisory), fashion & lifestyle, telecom and IT-ITeS. It is a leading player in the agri, rayon and insulators sectors.

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