Waterbase hits new high; stock zooms 72% in one month post Q2 results
Operational income during the quarter under review grew 21% at Rs 97 crore against Rs 80 crore in the corresponding quarter of previous year.
Ebitda (earnings before interest, taxes, depreciation and amortization) margin improved 850 bps to 15.7% from 7.2% in previous year quarter.
Profitability growth on the back of overall improved performance and lower input costs. Strong demand trends across existing markets; positive response in newer markets coupled with improved product mix aided in driving revenue momentum.
Benign input prices were primary contributor to higher operating profitability and margin expansion. Cost containment initiatives coupled with measures undertaken towards enhancing business efficiencies also aided profitability, the company said.
Meanwhile, TWL said National Company law tribunal (NCLT), Hyderabad, sanctioned the scheme of amalgamation of Pinnae Feeds with the company.
TWL has forayed into sale of processed seafood in the domestic market in Dec 2016 – currently offers frozen shrimps and Pasteurized Crab Meat under the ‘Prize Catch’ brand to Institutional Customers – Initial response has been good and will enter other cities in South India in ensuing months.
Hatchery Operations are nearing completion and the Company plans to undertake extensive trial runs in Q4. Hatchery operations will reflect in financial performance from FY19 onwards, the company said.
Post results, in past one month the stock zoomed 72% from Rs 160 on November 14, as compared to 1% rise in the S&P BSE Sensex.
The trading volumes on the counter jumped more than five-fold. As many as 2.43 million shares change hands against an average 0.47 million shares were traded daily in past two weeks on the BSE till 03:09 PM.