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ICICI Direct Report
Gandhi Special Tubes Ltd. manufactures small diameter welded and seamless steel tubes that primarily find application in farm equipment (tractor), construction equipment and commercial vehicle space among others.
Given the specialised nature of product profile, Gandhi Special Tubes realises high Ebitda margins (~40%) with resultant high capital efficiency (return on invested capital at ~50%).
The company reported a robust operational performance in FY21.
Net sales for the year were at Rs 114 crore, up 40% y-o-y.
Ebitda in FY21 was at Rs 45 crore with attendant margins at 39.4%. Consequent profit after tax in FY21 was at Rs 36 crore, up 70% y-o-y.
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