Somany Ceramics Posts Handsome Numbers In FY’14
Biswajit Yadav / 26 May 2014
The net profit of the company stood at Rs 11.18 crore, reporting a jump of 10.2% on yearly basis during the last quarter of FY14. As a result Somany Ceramics has recommended a dividend of Rs 1.5 per share for the fiscal year 2014.
Somany Ceramics, a tiles manufacturing company today announced its fourth quarter result for the quarter ended March 2014. The result shows that the company has reported a topline and bottomline growth of 22% and 10% respectively for the quarter ended March 2014 as compared to the same quarter of previous year.
The company has posted a topline of Rs 408.99 crore during Q4FY14 as against Rs 334.85 crore during Q4FY13. Whereas the EBITDA of the company stood at Rs 27.16 crore, reporting a jump of around 12% on yearly basis during Q4FY14. While the EBITDA margin during Q4FY14 has plunged by 61 basis points standing to 6.6% on YoY basis. The EBITDA margin reduced due to increase in cost of power and fuel (up by 23% on yearly basis) and increase in purchase of traded goods (up by 20% YoY basis).
The net profit of the company stood at Rs 11.18 crore, reporting a jump of 10.2% on yearly basis during the last quarter of FY14. While the net profit margin has plunged by 29 basis points during the last quarter of fiscal year 2014 as compared to the same quarter of previous year. This was due to increase in tax (up by 50%) on yearly basis for the quarter ended March 2014.
On sequential basis to the performance of the company remained well. The topline and bottomline of the company increased by 44% and 134% respectively for the quarter ended March 2014 as compared to quarter ended December 2013. As far as margin is concerned, the EBITDA margin during Q4FY14 increased by 68 basis points as compared to Q3FY14.
The company informed that Amora Tiles, a subsidiary company commissioned 2.14 msm (million square metre) annual capacity plant of Ceramics Walls from March 07, 2014. The board of directors have also approved the expansion of ceramic floor tiles at Kadi (Gujarat Plant) by 2.4 msm annually by December 2014. The board approved to acquire 26% equity stake in Sonec Sanitaryware for Rs 156 lakh.
The company has recommended a dividend of Rs 1.5 per share for the fiscal year 2014. The shares of the company are currently trading at a price to earnings (P/E) of 19.66x. Today the scrip of the company opened and closed at Rs 225 (up by 0.20%) on BSE from its previous close.
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