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Venky’s shares rallies 10%, hits 52-week high after post Q4 results

May 13, 2021 03:10 PM

Venky's shares rallies 10%, hits 52-week high after post Q4 results
At 10:57 am, the stock was trading 8 per cent higher at Rs 1,921 on the BSE

Venky’s Shares hit a 52-week high of Rs 1,968.60 after rallying 10 per cent on the BSE in intra-day trade on Wednesday after the company reported a standalone net profit of Rs 77.90 crore for the quarter ended March 2021 (Q4FY21). It had posted a net loss of Rs 96.73 crore in the year-ago quarter. On a sequential basis, the net profit was down 27 per cent from Rs 106.50 crore as the company witnessed some negative impact due to outbreak of bird flu.

The company’s revenue from operations grew 42 per cent to Rs 941.35 crore from Rs 660.86 crore in the corresponding quarter of previous fiscal. It reported earnings before interest, taxes, depreciation, and amortization (EBITDA) of Rs 111.17 crore against a loss of Rs 117.53 crore.

Also Read:  Asian Paints consolidated net profit up 84% at Rs 852 cr in March quarter

The management said the improved financial performance was seen for the quarter, even after the Company witnessed some negative impact in January, 2021 due to outbreak of bird flu. The poultry and poultry products segment witnessed better realizations from the sale of day old chicks and grown up broilers.

The maize prices have been steady throughout the quarter and the outlook appears to be stable. The animal health products segment registered improved performance, while oilseed segment performance has been good, registering improved sales and profits, the management said.

The board has recommended a dividend of Rs 17 per equity share (170 per cent) (previous years Rs. NIL per share) for the year ended March 31, 2021, subject to the approval of shareholders.

Venky’s is the prominent supplier to many quick service restaurants (QSR’s) and international chains like Kentucky Fried Chicken (KFC), Pizza Hut, Tacobell, TGI Friday, Brinkers, Vista Foods, Burger King, McDonalds etc. Venky’s is prominently associated with business-to-business (B2B) and business-to-consumer (B2C) retail chains to sell our Venky’s brand chicken products, like Walmart, Metro Cash and Carry, Star Bazar, ABRL More, Future Retail and regional chains in major cities of India.

At 10:57 am, the Venky’s Shares was trading 8 per cent higher at Rs 1,921 on the BSE, as compared to 0.74 per cent rise in the S&P BSE Sensex. A combined around 870,000 equity shares have changed hands on the counter on the NSE and BSE, so far.

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