Somany Ceramics - Subdued Q1 Earnings, Strong Earnings Recovery On Card: IDBI Capital
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IDBI Capital Report
Somany Ceramics Ltd.’s Q1 FY22 result was below our consensus estimates on key parameters.
Statewide lockdown amid second wave of Covid-19 dented product off-take in April and May, which weighed on Q1 FY22 earnings performance compared to Q4 FY21.
However, on a positive note, the demand is back from second half of June and the management expects it to rebound strongly going forward.
Net sales increased by 95% YoY to Rs 3,299 million, while Ebitda came in at Rs 231million compared to negative Ebitda of Rs 116 million in Q1 FY21.
Somany Ceramics reported net profit of Rs 44 million as against net loss of Rs 220 million in the same quarter last year.
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