Mohnish Pabrai stock climbs over 6% on Q4 results
During the year ended December 31, 2022, the company incurred capital expenditures of $ 85 million, including expansion CAPEX for the vertical-shaft kiln project in Vizag, India, anhydrous carbon pellet project in the US, solar power plants in Ind...
By Navdeep Singh, ETMarkets.com |
iStock
Star fund manager Mohnish Pabrai's stock Rain Industries rallied 6.3% to Rs 163.4 in Wednesday's trade on BSE after the company reported a net profit of Rs 89.5 crore for the quarter ended December 2022. The company posted a net loss of Rs 97 crore in the year-ago period.
Its revenue from operations surged 35.5% to Rs 5,456.8 crore for the quarter under review against Rs 4,026.1 crore in the corresponding quarter of last year. Consolidated operating profit, calculated as earnings before interest, taxes, depreciation, and amortization (EBITDA), stood at 689.5 crore in Q4 of 2022, as compared to 541 crore in Q4 of 2021.
During the year ended December 31, 2022, the company incurred capital expenditures of $ 85 million, including expansion CAPEX for the vertical-shaft kiln project in Vizag, India, anhydrous carbon pellet project in the US, solar power plants in India and other maintenance projects across all locations.
As of December 31, 2022, the company had a gross debt of $ 1,181 million (including working capital debt of US$ 152 million), cash and cash equivalents of US$ 217 million (including restricted cash), Unamortised deferred finance cost of US$ 6 million and net debt of US$ 958 million.
At 10.43 am, the scrip was trading 5.2% higher at Rs 161.65 on BSE. However, on a year-to-date basis, the stock has fallen by 10%, while it has declined by about 18% in the last six months.
Technically, Rain Industries is trading below 6 out of 8 SMAs. The stock traded higher than 5-day, and 10-day moving averages but lower than 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day moving averages.
Rain Industries is a leading vertically integrated global producer of a diversified portfolio of products that are essential raw materials for staples of everyday life. It operates in three business segments: Carbon, Advanced Materials, and Cement.
Its revenue from operations surged 35.5% to Rs 5,456.8 crore for the quarter under review against Rs 4,026.1 crore in the corresponding quarter of last year. Consolidated operating profit, calculated as earnings before interest, taxes, depreciation, and amortization (EBITDA), stood at 689.5 crore in Q4 of 2022, as compared to 541 crore in Q4 of 2021.
During the year ended December 31, 2022, the company incurred capital expenditures of $ 85 million, including expansion CAPEX for the vertical-shaft kiln project in Vizag, India, anhydrous carbon pellet project in the US, solar power plants in India and other maintenance projects across all locations.
As of December 31, 2022, the company had a gross debt of $ 1,181 million (including working capital debt of US$ 152 million), cash and cash equivalents of US$ 217 million (including restricted cash), Unamortised deferred finance cost of US$ 6 million and net debt of US$ 958 million.
At 10.43 am, the scrip was trading 5.2% higher at Rs 161.65 on BSE. However, on a year-to-date basis, the stock has fallen by 10%, while it has declined by about 18% in the last six months.
Technically, Rain Industries is trading below 6 out of 8 SMAs. The stock traded higher than 5-day, and 10-day moving averages but lower than 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day moving averages.
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Mohnish Parbai is the managing partner of Pabrai Investment Funds, a family of hedge funds inspired by Buffett Partnerships, which he founded in 1999.Rain Industries is a leading vertically integrated global producer of a diversified portfolio of products that are essential raw materials for staples of everyday life. It operates in three business segments: Carbon, Advanced Materials, and Cement.
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