Shares of Greenpanel Industries Ltd. declined the most in over four months since Sept. 27, after third-quarter profit and revenue declined and missed analysts' estimates.
The woodpanel manufacturer's third-quarter net profit fell 40.5% to Rs 37.5 crore as compared to the same quarter of the previous financial year. The consensus analyst estimates pooled by Bloomberg pegged the net profit at Rs 433.8 crore for the given period.
The company's board of directors has declared an interim dividend of Rs 1.50 per share, to be paid on or before March 1.
Greenpanel Industries Q3 FY23 (Consolidated, YoY)
Revenues down 1% at Rs 420.2 crore (Bloomberg estimates: Rs 433.8 crore)
Ebitda down 17.16% at Rs 92.1 crore (Bloomberg estimates: Rs 100.6 crore)
Ebitda margin at 21.9% vs 26.18% (Bloomberg estimates: 23.2%)
Net profit down 40.5% at Rs 37.5 crore (Bloomberg estimates: Rs 56.75 crore)
The board declared an interim dividend of Rs 1.50 per share, to be paid on or before March 1, 2023.
Shares of the company declined 5.10% to Rs 319.40 apiece as of 2:15 p.m., while the benchmark Nifty 50 eased 0.15%.
The total traded volume stood at 13.7 times its 30-day average. The relative strength index at 20 implies that the stock may be oversold.
Out of the 14 analysts tracking the company, 12 maintain a 'buy' rating, one recommends a 'hold' and one suggests to 'sell' the stock, according to Bloomberg data. The 12-month consensus price target implies an upside of 82.9%.
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