Prism Johnson Q4 Review - Strong Operating Performance Continues: ICICI Securities
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ICICI Securities Report
Prism Johnson Ltd.’s Q4 FY21 standalone Ebitda grew 68% YoY to Rs 2.4 billion, above our estimates led by higher cement volumes which grew 26% YoY and 34% QoQ.
Besides, consolidated tile-bathroom-kitchen volumes grew strong at 55% YoY with Ebitda margins of 12.6% owing to better product mix and operating leverage.
The company announced addition of 1.0 million tonne grinding capacity at Satna to be commissioned by September 2023.
It also announced a greenfield tile capacity expansion of 2.5 million square metres at Panhagarh, West Bengal and another expansion of six million square metres at its joint venture entities - both likely to commission by Q4 FY23.
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