- According to the reports, Shares of Somany Ceramics rallied 12 percent to hit a 52-week high of Rs 550. after the company reported a strong set of numbers for the March quarter (Q4FY21), with the profit after tax of Rs 30.3 crore as against a loss of Rs 9 crore in Q4FY20.
- The revenues during the quarter under review grew 58.8 percent year-on-year (YoY) to Rs 562 crore from Rs 354 crore on the back of strong volumes. Tiles sales volumes were up 52 percent YoY at 16.9 MSM with realizations up 4 percent YoY at Rs 293/SCM. Tiles revenues were up 57.8 percent YoY at Rs 491.1 crore.
- Ebitda (earnings before interest, taxes, depreciation, and amortization) stood at Rs 90 crore, up 5.4 times YoY, driven by operating leverage and lower other costs.
- ICICI Securities said:” Somany’s working capital management and net debt reduction (down from Rs 444 crore in FY20 to Rs 173 crore in FY21) have been the key positives.”
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