Somany Ceramics surges 14% on strong Q4 earnings

NEW DELHI: Somany Ceramics shares surged more than 14 per cent on Thursday after the company reported a strong set of numbers for the quarter ended March 2021 .

The home furnishing company turned profitable in the quarter ended March 31, 2021, with a profit after tax of Rs 30.3 crore. The company had reported a net loss of Rs 9 crore for the corresponding period a year ago.

Shares of Somany Ceramics soared as much as 14.16 per cent to a 52-week high of Rs 558.95 apiece on BSE, but gave up some gains to trade at Rs 538.50 at 12:14 pm. The stock outperformed the S&P BSE Sensex index, which was down 0.30 per cent at 52,346.42.

The company reported revenue of Rs 562 crore for the quarter under review, up 58.8 per cent on a year-on-year (YoY) basis on the back of strong volumes. Tile sales volumes were up 52 per cent and tiles revenues up 57.8 per cent YoY.

The Somany Ceramics stock has surged 380 per cent in the last one year. The counter is up 65 per cent so far this year.

The company’s Ebitda stood at Rs 90 crore, driven by operating leverage and lower other costs. Its EPS increased to Rs. 6.42 in March 2021 from Rs. 2.12 in March 2020.