Talbros Automotive soars 19% on strong Q2 results

The stock soared 19% to Rs 245, also its record high on the BSE.

Talbros Automotive Components soared 19% to Rs 245, also its record high on the BSE, after the company nearly doubled its consolidated net profit at Rs 7.94 crore in September quarter (Q2FY18). The auto parts & equipment Company had reported profit of Rs 4.12 crore in the same quarter a year ago.

Total income from operations during the quarter grew 22.6% to Rs 133 crore against Rs 108 crore in the corresponding quarter of previous fiscal year. EBITDA (earnings before interest, taxes, depreciation and amortization) margin improved sequentially to 12.05% in Q2FY18 from 11.32% in Q1FY18.

The company said it is witnessing a strong recovery post Goods and Services Tax (GST) implementation and are confident of achieving our targets for FY18.

The favourable macro economic conditions are likely to lead to sustainable uptick in demand. The healthy order book of global and domestic auto majors in forgings division to lead growth with improved profitability, it added.

At 02:45 PM; the stock was up 18% at Rs 243 on the BSE, as compared to 0.26% rise in the S&P BSE Sensex. The trading volumes on the counter jumped multiple-fold with a combined 1.21 million shares changed hands on the BSE and NSE so far.