BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
Somany Ceramics Ltd.'s Q3 FY22 result was below our estimates on margins front owing to higher raw material cost and subdued polished vitrified tiles sales volume.
Sharp increase in gas prices led to shortage in polished vitrified tiles supply from the vendors which resulted in lower volume. The management guided that demand is robust and sales volume would be higher in Q4 FY22.
Net sales increased by 19.2% YoY to Rs 870 million, while Ebitda came in at Rs 624 million, marginally down by 1.2% over Q3 FY21.
Somany Ceramics reported net profit of Rs 322 million as against Rs 281 million in the same quarter last year. The company's capacity addition plans are on track and it should be operational by end of Q4 FY22 and would pave the way for sustainable earnings growth in future.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
