BOM­BAY DYE­ING

Dalal Street Investment Journal - - QUERY BOARD -

The Bom­bay Dye­ing and Man­u­fac­tur­ing Com­pany Limited is a hold­ing com­pany en­gaged in the busi­ness of cot­ton and blended cot­ton tex­tiles. The com­pany man­u­fac­tures bed­ding, quilts, pil­lows and sleep­ing bags. It is also in­volved in real es­tate ac­tiv­i­ties and man­u­fac­ture of polyester sta­ple fi­bre (PSF). The com­pany’s seg­ments com­prise of­tex­tiles, polyester and real es­tate.

The com­pany of­fers sin­gle bed, dou­ble bed, king size bed, bath towel, hand towel, face towel, towel sets, bathrobe, do­har, du­vet cover, blan­kets, com­forters and Di­wan sets. Its of­fer­ings in­clude brands such as Snow White, Tulip, Santino, Rev­erie, Su­per Ul­trx, Honeycomb, Flo­ral Fi­esta, Car­di­nal, Eter­nia, Spree, Rasso and Joanna. The com­pany’s plants in­clude a tex­tile pro­cess­ing unit and PSF plant lo­cated in Ma­ha­rash­tra.

Arch­way In­vest­ment Com­pany Limited is a sub­sidiary of the com­pany.

On the fi­nan­cial front, Bom­bay Dye­ing & Man­u­fac­tur­ing posted a 30.79 per cent in­crease in its net sales to ₹622.86 crore in the first quar­ter of FY18 as against ₹476.22 crore in the same quar­ter of the pre­vi­ous fis­cal. The com­pany’s PBIDT rose by 8.50 per cent to ₹66.98 crore in the first quar­ter of FY18 com­pared to ₹61.73 crore in Q1FY17.

Fur­ther, the com­pany’s net loss de­creased from ₹43.58 crore in Q1FY17 to ₹32.71 crore the first quar­ter of FY18. On an an­nual ba­sis, the com­pany’s net sales de­creased slightly by 7.57 per cent to ₹1,668 crore in FY17 as against ₹1,804.72 crore in the pre­vi­ous fis­cal. The com­pany’s PBIDT de­clined by 48.42 per cent to ₹99 crore in FY2017 com­pared to ₹191.93 crore in the pre­vi­ous fis­cal. How­ever, the com­pany’s profit af­ter tax grew to ₹41.71 crore in FY17 against net loss of ₹85.24 crore in FY2016.

How­ever, the stock is ex­hibit­ing a slumped per­for­mance on the bourses. We rec­om­mend the reader-in­vestors to Exit the stock.

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