In this blog, we will share our spotlight on Somany Ceramics Ltd.
Somany Ceramics Ltd. – Highlights
- The shares of Somany Ceramics Ltd. was trading at Rs.532.95, up by 8.85% hitting a 52-week high of Rs.565.00 in today’s trading session.
- The stock has increased by 367.09% in last one year, while the benchmark index S&P BSE Sensex has increased by 56.15%.
- The rally in stock price was after the company reported a strong set of numbers for the March quarter (Q4FY21).
- The company reported a 58.58 % year-on-year increase in consolidated net revenues for the Mar-21 quarter, at Rs564.64 crore. On a sequential basis, net sales revenues were up by 14.65% compared to total revenues in the Dec-20 quarter at Rs492.49cr.
- On COVID impact, full year revenues for FY21 were nearly flat at Rs1,663cr. Construction activity and supply chain constraints impacted the tile business. This has now returned to pre-COVID levels. As a result of the increased profit, net cash from operations more than doubled to Rs356cr.
- Net profits in the Mar-21 quarter increased to Rs35.26cr, up from a net loss of Rs-9.00cr in the Mar-20 quarter. While sales fell sharply in the Mar-20 quarter due to the pandemic, revenues were insufficient to cover fixed costs, resulting in losses for the quarter.
- Net margins in the Mar-21 quarter were 6.24 %, which was slightly lower than the 6.31 % in the preceding Dec-20 quarter.
- Somany Ceramics’ Board of Directors approved the issuance of Non-Convertible Debentures/Bonds/Other Similar Instruments up to Rs.50 crore at its meeting on June 16, 2021, subject to shareholder approval at the ensuing Annual General Meeting, which will be held for the fiscal year 2020-21.
- Somany Ceramics, founded in 1969 by late H. L. Somany, is an internationally renowned company that specializes in ceramics and allied products. Somany Ceramics has established itself as an unrivalled leader in the Indian Ceramic Industry over the last four decades, with significant presence in India, Africa, the Middle East, the United Kingdom, and Russia.
- It is a full-service décor provider, offering Ceramic Wall and Floor Tiles, Polished Vitrified Tiles, Glazed Vitrified Tiles, Digital Tiles, Sanitaryware and Bath Fittings, and Tile Laying Solutions.
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Disclaimer: This document and the process of identifying the potential of a company has been produced for only learning purpose. Since equity involves individual judgments, this analysis should be used for only learning enhancements and cannot be considered to be a recommendation on any stock or sector.
