Shares of Vesuvius India Ltd. surged nearly 17% to an all-time high on Tuesday after its standalone net profit jumped 59% year-on-year in the fourth quarter of financial year 2024.
Vesuvius Q4 FY24 Earnings Highlights (Standalone, YoY)
Revenue up 23% at Rs 453 crore vs Rs 368 crore.
Ebitda up 73% at Rs 95 crore vs Rs 55 crore.
Margin expands 599 basis points to 20.94% vs 14.95%.
Net profit up 59% at Rs 92.2 crore vs Rs 58.1 crore.
Vesuvius's stock rose as much as 16.76% during the day to Rs 5,084.10 apiece on the NSE. It was trading 10.92% higher at Rs 4,830 per share, compared to a 0.24% advance in the benchmark Nifty 50 at 9:38 a.m.
The share price has risen 34.36% on a year-to-date basis and 185.85% in the last 12 months. The total traded volume so far in the day stood at 1.07 times its 30-day average. The relative strength index was at 85.23, indicating that the stock may be overbought.
Three analysts tracking the company have a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 5.8%.
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