ICICI Securities: Visaka Industries Posts Stellar Q1 Performance In Times Of Adversity

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. 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 stellar 38% beat in profit after tax at Rs 344 million (our estimate Rs 249 million), up 49% YoY.The performance was driven mainly by strong operational performance in asbestos cement sheet segment on the back of higher rural demand and sharp uptick in pricing and sharp uptick in Vnext prices led by pent-up demand witnessed post May 2020.With demand and pricing tailwinds for ACS/Vnext segments likely to sustain in the near term, we expect the company to maintain its growth momentum over the next few quarters.Also, increasing promoter stake (through preferential allotments and warrants) and expected paring of sizeable debt in the current fiscal would aid further re-rating in the stock going forward..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

ICICI Securities: Visaka Industries Posts Stellar Q1 Performance In Times Of Adversity

ICICI Securities: Visaka Industries Posts Stellar Q1 Performance In Times Of Adversity

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