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Centrum Broking Report
Tata Metaliks Ltd. Q3 FY21 performance was driven by the strong performance of the pig iron (PI) segment and softening input cost that offset the weakness in ductile iron pipe segment.
Revenues were 1.5% higher YoY to Rs 5.3 billion. PI segment volume and realisation growth was healthy (3%/19% respectively) driving the performance.
Gross margins at 51% were strong versus 41% YoY helped by softening raw material cost. The Ebitda jumped to Rs 1.27 billion due to better efficiencies (higher Ebitda margins of 24% compared to 15% YoY).
The company will continue to benefit from cost savings measures including commissioning of captive power and coke oven plant.
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