Nocil Q4 Review - In-Line Performance; Utilization Ramp-Up To Drive Earnings: Axis Securities

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Nocil Q4 Review - In-Line Performance; Utilization Ramp-Up To Drive Earnings: Axis Securities

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.

Axis Securities Report

Q4 FY21 performance of Nocil Ltd. was largely in line with our top line and Ebitda estimates while it was a 39% beat versus our profit after tax estimates.

Revenues for Q4 FY21 were up 51%/17% YoY/QoQ, aided by a healthy volume performance on account of month-on-month improvement in production levels since June 2020.

For Q4 FY21, reported revenue/Ebitda/profit after tax came in at Rs 322 crore/52 crore/37 crore which grew by 51%/43%/71% YoY respectively.

In Q4 FY21, gross margins came in at 44.2%, thus improving sequentially by 71 basis points in the backdrop of improving realization trends.

Click on the attachment to read the full report:

Axis Securities NOCIL-Q4FY21-Result Update.pdf

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This 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 author entity and do not represent the views of BloombergQuint.

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