Somany Ceramics Q1 Review - A Descent Quarter Amid Inflationary Cost Pressure: IDBI Capital

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..IDBI Capital Report.Somany Ceramics Ltd.’s Q1 FY23 result was in-line with our estimates on all parameters. Despite steep increase in gas prices, the company managed to hold margins on a sequential basis. The management guided that though Morbi’s tile manufacturers have opted for a long shut down, Somany Ceramics’ plants should be operational and there won’t be any negative impact on sales volume. Net sales increased by 69.5% YoY to Rs 5,591 million, while Ebitda came in at Rs 449 million, up by 94.8% over Q1 FY22. The company reported net profit of Rs 206 million, higher by 362.6% YoY. Somany Ceramics’ capacity expansion in value added products and focus on strengthening distribution network bodes well for future earnings growth..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Somany Ceramics Q1 Review - A Descent Quarter Amid Inflationary Cost Pressure: IDBI Capital

Somany Ceramics Q1 Review - A Descent Quarter Amid Inflationary Cost Pressure: IDBI Capital

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