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ICICI Direct Report
NCL Industries Ltd.'s FY21 performance improved sharply with the company reporting revenue growth of 47.5% YoY to Rs 1383.7 crore along with Ebitda margin expansion of over 556 basis points to 20.4% and profit after tax of over Rs 148.8 crore despite pandemic woes.
Significant volume catch-up from Q2 FY21 onwards supported by firm realisations helped the company to post a healthy performance.
Although Q4 FY21 margins remained lower at 16.4%, this was partly led by cost pressures (higher petcoke, fuel prices) and the change in sales mix (increase in non-retail share) due to pick-up in infra that led to 2% QoQ drop in realisations.
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