Somany Ceramics

Slowdown in construction activity, high inventory levels and cost spike key negatives

The industry is passing through a "bad phase" due to rise in natural gas prices, a company official said on Wednesday.

Analysts have downgraded the related sectors, and have cut earnings estimates for FY23 and FY24 factoring the near-term challenges

The revenues during the quarter under review grew 58.8 per cent year-on-year (YoY) to Rs 562 crore from Rs 354 crore on the back of strong volumes

Ceramic tiles companies reported resilient Q2FY21 reported numbers as organised tiles players exhibited stronger recovery back to pre-Covid volumes

SHIL, which operates under segments such as consumer appliances, home retail solutions and furniture and kitchen fittings business, had reported a revenue of Rs 451.44 crore in FY 2019-20

While for SHIL, 98 per cent of business comes directly from consumers, for HSIL, 30 per cent of the business is dependent on large institutional buyers like builders, hospitals, hotels, among others

As per the regulatory norms, the proposed acquisition will attract the obligation to make open offer under the Takeover Regulations.

The stock surged 17% to Rs 559 on the BSE in intra-day trade on back of heavy volumes.

Income from operations up 11% to Rs 464 cr

However, shares of the comapny closed 3.98% lower at Rs 600 apiece on BSE

The stock rallied 15% to Rs 495 on the BSE after reporting 76% YoY growth in net profit at Rs 26 crore for Q4FY16.

Full year profit up 38% to Rs 61 cr