ICICI Direct: Vardhman Special Steels Posts Healthy Q2 Operational Performance
Slabs of steel at a metal plant in Germany. (Photographer Krisztian Bocsi/Bloomberg)

ICICI Direct: Vardhman Special Steels Posts Healthy Q2 Operational Performance

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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.

ICICI Direct Report

Vardhman Special Steels Ltd. reported a healthy set of Q2 FY21 numbers. Sales volume for the quarter were at 43986 tonne, up 32% YoY, 248% QoQ.

Topline was at Rs 247.1 crore, up 17% YoY, 264% QoQ. Ebitda was at Rs 21.1 crore versus Rs 2.6 crore in Q2 FY20 and an Ebitda loss of Rs 9.4 crore in Q1 FY21.

Ebitda margin was at 8.5% versus 1.2% in Q2 FY20 and negative Ebitda margin of 13.9%.

The healthy Ebitda performance during Q2 FY21 was driven by increase in sales volume and reduction in raw material cost.

Click on the attachment to read the full report:

ICICI Direct Vardhman Company Update.pdf

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