- 02 May 2022
- ICICIdirect Research
Vardhman Special Steel reports steady operational performance in Q4FY22VSSL - 209 Change: -1.70 (-0.81 %)
News: For Q4FY22, Vardhman Special Steel (VSSL) reported sales volume of 41596 tonnes, down 13% YoY and 7% QoQ. Topline for the quarter stood at Rs343 crore, up 3% YoY however down 4% QoQ. EBITDA margin for the quarter stood at 11.1% , up 29 bps QoQ however down 454 bps YoY. EBITDA for the quarter stood at Rs38 crore , down 2% QoQ and 27% YoY. Ensuing PAT for the quarter stood at Rs29 crore, up 11% YoY and 50% QoQ.
Views: VSSL reported steady operational performance for Q4FY22, wherein both its EBITDA/tonne as well as gross margins increased on a sequential basis (QoQ basis). During Q4FY22, VSSL reported EBITDA/tonne of Rs9148/tonne as compared to Rs8668/tonne in Q3FY22. VSSL also reported sequential increase in gross margins from 37.6% in Q3FY22 to 40.7% in Q4FY22. The growth in PAT was supported by sharp increase in other income. Other income for the quarter stood at Rs22 crore as compared to Rs2 crore each in Q4FY21 and Q3FY22.