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ICICI Direct Report
Vardhman Special Steel Ltd. reported a mixed bag performance for Q3 FY23 wherein while the company's Ebitda/tonne increased QoQ, sales volume declined on a QoQ basis.
For Q3 FY23, Vardhaman Special Steel reported sales volume of 46358 tonnes, up 4% YoY but down 9% QoQ. Ebitda/tonne for the quarter was at Rs 7831/tonne compared to Rs 6839/tonne in Q2 FY23 and Rs 8668/tonne in Q3 FY22.
For Q3 FY23, Vardhman Special Steel reported topline of Rs 401 crore, up 11% YoY but down 10% QoQ. Ebitda for the quarter was at Rs 36 crore, up 4% QoQ but down 6% YoY. Ebitda margin for the quarter was at 9.1%, up 120 bps QoQ but down 173 bps YoY.
Other income for the quarter was at Rs 13 crore, up 573% YoY but down 5% QoQ. Ensuing profit after tax for the quarter was at Rs 28 crore, up 46% YoY, 2% QoQ.
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