HEG Company Update - Better Times Ahead: ICICI Direct
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ICICI Direct Report
For Q4 FY21, HEG Ltd.'s standalone topline came in at 380 crore, up 2% year-on-year, 19% quarter-on-quarter.
However, at the Ebitda level, the company reported a loss of 5 crore. Other income for the quarter was at 25 crore.
Ensuing net loss for the quarter was at 7 crore. The Q4 FY21 performance was impacted by a sharp rise in other expenses.
Other expenses for Q4 FY21 were at 120 crore compared to 71 crore in Q3 FY21 and 78 crore in Q4 FY20.
During Q4 FY21, other expenses as a percentage of sales were at 32% in Q4 FY21 compared to 21% in Q4 FY20 and 22% in Q3 FY21.
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