ICICI Securities: Visaka Industries’  Impressive Q2 Beat On All Fronts
Workers prepare asbestos roofing sheets for dispatch (Photographer: Adeel Halim/Bloomberg)

ICICI Securities: Visaka Industries’ Impressive Q2 Beat On All Fronts

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 Securities Report

Visaka Industries Ltd. reported a 36% beat in profit after tax at Rs 223 million (our estimate Rs 164 million), up 68.6% YoY.

Performance was largely driven by -

1. sharp recovery in Vnext (fibre cement board) revenues (up 10.2% YoY) driving significant improvement in segmental Ebitda margin to 14.7% (all-time high) on the back of operating leverage and YoY decline in input costs; and

2. continued strong operational performance in asbestos cement sheet segment (up 17.8% YoY) led by sustained higher pricing.

Click on the attachment to read the full report:

ICICI Securities Visaka Q2FY21 Results Update.pdf


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