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Entry Price

569.00

Target

675.00

Recommend Date

22-10-2020

Return

18.63 %
BUY

Date : 22-10-2020

Tata Metaliks (TML) reported a healthy set of Q2FY21 numbers. Pig iron reported sales volume of 85684 tonnes, up 12% YoY 167% QoQ. Ductile iron reported sales volume of 48908 tonnes, up 80% QoQ but down 13% YoY. The YoY decline in sales volumes of ductile iron pipe was on account of delays in project sites arising out of Covid impact. The company reported a topline of | 520 crore, up 2% YoY and 148% QoQ while EBITDA came in at | 109 crore vs. | 41 crore in Q2FY20 and | 10 crore in Q1FY21. EBITDA margin came in at 21.1% compared to 8.0% in Q2FY20, 4.9% in Q1FY21. Ensuing PAT came in at | 82 crore, up 248% YoY.