Higher Cost & Soft Realisation Impact Performance Led by dismal realisation and higher gas prices, Somany Ceramics continued to report soft performance in 1QFY19 mainly with its net revenue growing by a modest 10% YoY (-31% QoQ) on low base to Rs3.6bn. Whilst EBITDA surged by 49% YoY (-55% QoQ) to Rs196mn, EBITDA margin came in at just 5.4% (+144bps YoY and -284bps QoQ). Net profit stood at Rs84mn (+39% YoY and -64% QoQ). As per the Management, the Company lost revenue to the tune of ~Rs350mn due to credit control measures and plant shutdown in May'18. Remaining under pressure, blended realisation/sm fell by 3.6% YoY and 11.1% QoQ to Rs292/scm, which the Management...