BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
Somany Ceramics Ltd.’s Q1 FY22 result was below our consensus estimates on key parameters.
Statewide lockdown amid second wave of Covid-19 dented product off-take in April and May, which weighed on Q1 FY22 earnings performance compared to Q4 FY21.
However, on a positive note, the demand is back from second half of June and the management expects it to rebound strongly going forward.
Net sales increased by 95% YoY to Rs 3,299 million, while Ebitda came in at Rs 231million compared to negative Ebitda of Rs 116 million in Q1 FY21.
Somany Ceramics reported net profit of Rs 44 million as against net loss of Rs 220 million in the same quarter last year.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.