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Dolat Capital Report
Sterling Tools Ltd. reported strong operating performance in Q3 FY21.
Net revenue grew 31% YoY to Rs 1.1 billion, led by recovery in demand across original equipment manufacturer segments.
Ebitda was Rs 232 million (+67% YoY) with expanded margin (449 basis points year on year to 20.9%) due to a favorable product mix (increasing mix of CVs, cost control measures partly offset by higher RM prices.
We expect margin to taper off in coming quarter due to sharp increase RM prices.
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