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HEG: EBITDA margins increase both QoQ as well as YoY

News: For Q2FY22, HEG's consolidated operations reported a topline of Rs.517 crore, up 60% YoY & 25% QoQ. Consolidated EBITDA for the quarter was at Rs.141 crore compared to Rs.72 crores in Q1FY22. Ensuing consolidated PAT for the quarter was at Rs.131 crore, up 130% QoQ.

Views: HEG's EBITDA margin for Q2FY22 increased both QoQ as well as YoY basis. During Q2FY22, HEG's consolidated EBITDA margin was at 27% compared to 18% in Q1FY22 and -13% in Q2FY21. Decline in raw material costs (as a % of sales) aided the uptick in EBITDA margins during Q2FY22. During Q2FY22, raw material expenses as a percentage of sales was at 37% as compared to 78% in Q2FY21 and 43% in Q1FY22.