- 11 Nov 2021
- ICICIdirect Research
Vesuvius India reports good set of Q3CY21 performanceVESUVIUS - 2355 Change: -20.30 (-0.85 %)
News: Vesuvius India (VIL) reported a good set of numbers for Q3CY22. Revenue for Q3CY21 came in at Rs.267.6 crore which grew by 26% on YoY performing better than pre-Covid levels aided by better demand in steel and cement industries. EBITDA came in at Rs.27.7 crore, up 53.8% YoY aided by better gross margins and positive operating leverage. VIL reported PAT at Rs.19.4 crore, which grew 26.0%, YoY.
Views: Overall, VIL’s revenue and margins saw a major improvement led by better demands in sectors like steel, cement which consumes more than 80% of refractories products. Going forward, Vesuvius is well placed to capture domestic market share through focus on localised manufacturing and new product launches driving faster growth. Additionally, higher steel production and technological advancement is expected to further drive refractories demand