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Entry Price

384.00

Target

500.00

Recommend Date

07-02-2021

Return

30.21 %
BUY

Date : 07-02-2021

Somany Ceramics reported strong Q3FY21 numbers with sales volumes growth recovery faster than anticipated. Tiles sales volumes were up 11.8% YoY at 14.9 MSM with stable realisations (up 0.8% YoY at | 288/SCM). Tiles revenues were up 12.6% YoY at | 428.6 crore while bathware revenues were up 8.4% YoY at | 50.9 crore. Overall revenues were up 12.9% YoY at | 492 crore. EBITDA at | 63.3 crore was up 10.4% YoY, driven by better product mix driving gross margins. Margins at 12.9% were up 363 bps YoY. PAT was at | 28.2 crore, up 1.7x YoY, with growth aided by superior operating performance and lower interest costs.