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IDBI Capital Report
Somany Ceramics Ltd.'s Q3 FY21 result was in-line with our estimates on all key parameters.
Despite subdued demand from metros, tier-III and smaller towns led to 11.8% YoY tiles volume growth for the company.
Further, better product mix in tiles and higher sales of bathware segment aided Ebitda margin expansion.
Net sales increased by 12.9% YoY to Rs 4,925 million, while Ebitda came in at Rs 633 million, up by 57.3% YoY.
The company reported net profit of Rs 311 million, a robust growth of 148.5% over Q3 FY20.
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