ICICI Direct: Vardhman Special Steels Posts Healthy Q2 Operational Performance
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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.
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