Somany Ceramics Q4 Review - Strong All-Round Show: ICICI Direct
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ICICI Direct Report
Somany Ceramics Ltd. reported strong growth on a benign base (~31% decline in Q4 FY20).
Tiles sales volumes were up 52% YoY at 16.9 million square meter with realisations up 4% YoY at Rs 293/ standard cubic meter.
Tiles revenues were up 57.8% YoY at Rs 491.1 crore while bathware revenues were up 58% YoY at Rs 57 crore.
Ebitda, at Rs 88.9 crore, was up 5.4 times YoY, driven by operating leverage and lower other costs.
Margins at 15.8%, were up 12% on a depressed base. Profit after tax was at Rs 30.3 crore.
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