- 27 Jul 2023
- ICICI Securities
ANOTHER SET OF STRONG EARNINGS PRINT WITH ALL ROUND PERFORMANCE.
VESUVIUS - 4924 Change: 124.20 (2.59 %)News: Vesuvius reported another set of robust earnings. The revenues grew by 23% YoY and 10% YOY at Rs 405 crore. The robust growth in on account of aggressive expansion undertaken by the company ( currently going g on in phase manner ). Ebitda margins came in at 17.2% vs 14.9% QOQ and 12.5% YOY which expanded mainly on account of volume growth and product mix. Consequently PAT came is at Rs 52.2 crore vs. Rs 43.6 crore QOQ and Rs 30.2 crore YoY.
Views: The managements focus to add capacities across missing portfolio products and base products in aggressive fashion has started to pay off handsomely and we believe the same trend to continue. It has further chalked out an additional capex of Rs 88 crore to be done in the monolithic side adding 120000 tonne of capacity by Sept 2024.
Impact: Positive