ICICI Securities: Prism Johnson Reports Strong Operating Performance Across Divisions In Q2
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ICICI Securities Report
Prism Johnson Ltd.’s Q2 FY21 standalone Ebitda grew 85% YoY to Rs 1.5 billion, significantly above our/consensus estimates owing to sharp fixed cost reduction and volume recovery across key segments.
Cement volumes grew 3% YoY with Ebitda/tonne increasing 65% YoY to Rs 1,012/tonne owing to better-than-expected realisation and lower costs.
Consolidated tile bathroom kitchen revenue grew 6% YoY with Ebitda margins improving to 10.7% from 4.2% in Q2 FY20 led by product mix improvement and fixed cost reduction.
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