Somany Ceramics - Robust Demand Led To Strong Q3 Performance: IDBI Capital
Tile samples hang on display inside a showroom. (Photographer: David Paul Morris/Bloomberg)

Somany Ceramics - Robust Demand Led To Strong Q3 Performance: IDBI Capital

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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.

IDBI Capital Report

Somany Ceramics Ltd.’s Q3 FY21 result was in-line with our estimates on all key parameters.

Despite subdued demand from metros, tier-III and smaller towns led to 11.8% YoY tiles volume growth for the company.

Further, better product mix in tiles and higher sales of bathware segment aided Ebitda margin expansion.

Net sales increased by 12.9% YoY to Rs 4,925 million, while Ebitda came in at Rs 633 million, up by 57.3% YoY.

The company reported net profit of Rs 311 million, a robust growth of 148.5% over Q3 FY20.

Click on the attachment to read the full report:

IDBI Capital Somany Ceramics Q3Fy21 Result Update.pdf

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