Iron & steel products firm Usha Martin announced Q2FY23 results: Consolidated Q2FY23 vs. Q2FY22: Revenue from operations increased by 38.1% YoY to Rs. 820.2 crore Sales volumes stood at 50,100 MT, registering a 17.9% YoY increase Higher realizations and better volumes assisted revenue growth during the quarter EBITDA stood at Rs. 120.6 crore as against Rs. 99.0 crore, increasing 22.0% on a YoY basis EBITDA margin for the quarter was 14.7% PAT stood at Rs. 79 crore as against Rs. 57.6 crore, up 37.2% on a YoY basis EPS (Diluted) stood Rs. 2.59 as against Rs. 1.89 Consolidated H1FY23 vs. H1FY22: Revenue from Operations increased by 30.6% YoY to Rs. 1,578.9 crore Sales volumes stood at 96,600 MT, registering a 10.4% YoY increase EBITDA stood at Rs. 244.7 crore as against Rs. 196.7 crore, increasing 24.4% on a YoY basis EBITDA margin for the half year was 15.5% PAT stood at Rs. 161.2 crore as against Rs. 115.7 crore, up 39.3% on a YoY basis EPS (Diluted) stood Rs. 5.29 as against Rs. 3.79 Commenting on the performance Mr. Devadip Bhowmik, Whole Time Director said, “We are pleased to share that Usha Martin has reported strong performance during the quarter despite the challenging global macro environment and for a quarter which is generally considered a seasonally soft period for us. We are also happy to share that the ongoing capacity expansion and modernization plans are progressing well. Additionally, Usha Martin is making notable strides in its strategic initiatives of increasing its global distribution network, product innovation, and value-added solution-based offerings. Overall, we are enthused with the turnaround that the Company has managed to achieve over the last few years. Today, Usha Martin has considerably improved its balance sheet and has stabilized its overall business dynamics. We are therefore confident that our inherent strengths should enable the Company to enter a new phase in its growth journey.” Result PDF