News: Company posted muted performance for the quarter, with topline coming at Rs.2,181 crore, down 8% QoQ, EBIDTA coming in at Rs.220 crore, down 22% QoQ with EBIDTA margins at 10.1% down 190 bps QoQ. PAT for the quarter stood at Rs.98.5 crore down 32% QoQ.
Views: Company closed year on muted note with total topline coming at Rs. 8,696 crore (up 22% YoY) & EBITDA at Rs.1,023 with margins at 11.8% for FY22 down 380 bps YoY. Muted margin were largely on account of decline in gross margins amidst minimal operating leverage benefits. The company is yet to announce meaningful commitment towards new energy battery space namely Li-On cells.
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