Visaka Industries Logs Stellar Performance In A Lean Quarter: ICICI Securities
Workers prepare asbestos roofing sheets for dispatch. (Photographer: Adeel Halim/Bloomberg)

Visaka Industries Logs Stellar Performance In A Lean Quarter: ICICI 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.

ICICI Securities Report

Visaka Industries Ltd. reported a strong beat across parameters while reporting a profit after tax of Rs 231 million (our estimate Rs 176 million), up 275% YoY.

The performance was largely driven by -

1. sharp rise in Vnext (fibre cement board) revenues (up 19% YoY) driving significant improvement in its segmental Ebitda margin to approximately 15% (all-time high) on the back of operating leverage and YoY decline in input costs; and

2. sustained strong operational performance in asbestos cement sheet segment led by double digit revenue growth and firm pricing.

Click on the attachment to read the full report:

ICICI Securities Visaka Q3FY21 Results Update.pdf


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