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