Somany Ceramics shoots up 20% on sturdy soar in earnings; brokerage upbeat | Information on Markets

Shares of Somany Ceramics shot up by 19.9 per cent at Rs 745.65 on the BSE in Thursday’s intraday commerce. The inventory value of the corporate soared after it staged a powerful present in its quarterly earnings for the January-March quarter of the fiscal 12 months 2023-24 (Q4FY24).

In Q4FY24, Somany Ceramics witnessed a 38.85 per cent surge in consolidated web revenue, reaching Rs 33.88 crore in comparison with Rs 24.40 crore in Q4FY23. Income from operations through the quarter noticed an 8.34 per cent year-on-year improve, at Rs 731.81 crore.

Furthermore, the corporate’s earnings earlier than curiosity tax depreciation and amortisation (Ebitda) stood at Rs 79 crore for the quarter ending March 31, 2024, marking a notable 30.4 per cent improve from Rs 61 crore recorded in the identical quarter of the earlier fiscal 12 months. The Ebitda margin expanded to 10.9 per cent in Q4FY24, from 9 per cent within the corresponding quarter final 12 months.

On an annual foundation, Somany Ceramics reported a consolidated web revenue improve of 33.63 per cent, reaching Rs 96.88 crore in FY24. Whereas FY24 revenues from operations noticed a 4.57 per cent rise, which amounted to Rs 2,577.32 crore in comparison with FY23.

Analysts at JM Financials mentioned that the corporate’s This fall earnings was broadly in step with their estimates whereas decrease than anticipated different bills led to five per cent beat on Ebitda entrance.

Demand for tiles remained sluggish by way of 4Q and additional impacted in 1QFY25 on seasonality. Blended gasoline value was down 6 per cent YoY whereas decrease different bills and worker value led to Ebita margin growth of 180 bps YoY in Q4FY23. 

“Somany stay hopeful of restoration from 2QFY25 and guides for low double digit quantity development in FY25 with 100-150 bps enchancment in working margins, assuming steady gasoline costs. We broadly preserve our FY25 -26EPS estimates to reach at Mar ’25 TP of INR 950, foundation 22xMar’26EPS. Keep BUY on engaging valuations (14.4xFY26EPS),” analysts at JM Financials wrote in a report. 

At 13:28 PM; the inventory of the corporate was buying and selling 17.19 per cent larger at Rs 728.20 per share. By comparability, the S&P BSE Sensex fell 0.49  per cent. The corporate is presently buying and selling at a value to earnings a number of of 30.66 occasions.

First Revealed: Might 16 2024 | 1:40 PM IST