UBL reportts Q4 resultsUBL - 1435 Change: -64.25 (-4.29 %)
News: UBL's Q4FY22 net revenues grew 11% YoY to Rs 1709 crore, led by volume growth of 7%. Absolute EBITDA remained flattish at Rs262 crore as EBITDA margin contracted 168 bps to 15.3%, due to higher inflation seen in the raw material prices. Subsequently, the company reported a PAT of Rs164 crore (vs adjusted PAT of Rs160 crore in Q4FY21). The Board of Directors have proposed a dividend of Rs10.5 per share.
Views: Mixed growth was seen during the quarter as Jan was muted while March saw strong growth. North saw 26% growth, while West declined 11%. South saw 8% growth, while East was relatively flat at 2%. The company is in process of taking price hikes to mitigate the gross margin pressure. The company reported FCF of Rs721 crore in FY22 vs Rs 440 cr in FY21. All term debt has been paid and cash balance is at Rs850 crore.