ECD Segment registered strong growth of 18% YoY driven by consumer and residential product categories Revenue grew 10% YoY to `24.5bn in Q2FY21. The performance was driven by consumer and residential product categories (75% of total sales) with 15% YoY growth led by demand recovery. Consumer lighting grew by 15% YoY while domestic wires grew by 19%-20% YoY. Fans industry registered single digit growth, but the company grew faster than competition. The growth was aided by rural demand as well as e-commerce sales. Within the consumer and residential portfolio, rural forms 4% of total sales and has grown by 140% YoY....
Company reported 36% QoQ increase in PAT to `348mn and PAT margins improved to 7.3% in Q2FY21 on the back of higher operating profit. Company's EBITDA per ton stood at `1109 per ton compared to `432 per ton and...
Cost rationalisation in addition to domestic recovery drives decent performance during Q2FY21 Cummins India Ltd (CIL) topline was at `11.6bn (-11% YoY;+133% QoQ).EBIDTA of `1.9bn +25% YoY was despite YoY revenue decline, was supported by better revenue mix of high margin Export + distribution business contributing 63% of sales compared to 52% in Q2FY20, which itself led to gross margin expansion of 3.1 bps YoY to 38.1% and cost rationalization measures lead to another 170bps YoY improvement in margins. EBIDTA margins for the quarter stood at 16.4% (+4.8 bps YoY)....
5. Interest Cost declined by 41% to `159mn 2. Given the strong commentary in Q1 about volume growth, the street was optimistic going into Q2 earnings. This optimism led rally was accentuated with strong volume growth of ~32% in Q2FY21 released by the company in pre-quarterly update. 3. The second quarter delivered robust performance with healthy traction in revenue (34% YoY) led by superior volume growth, sharp improvement in EBITDA per ton and...
Agrotech Foods Ltd reported a 12% YoY and QoQ increase in topline growth on account of increase in sales volumes (especially foods business) during the quarter. However, EBITDA degrew by 11% YoY to `165mn from `186mn led by higher operating costs while operating margins reduced by 186bps to 7.2% in Q2FY21. Drop in EBITDA and EBITDA margins was due to RM inflation in edible oil basket, higher advertising spends and other expenses. PAT degrew by 42% to `89mn and PAT margins dropped to 3.9% over the same period on the back of lower operating profit and other income. Other Income saw a...
Good Inroads in the FMEG segment With a highly diversified product mix, Cables & Wires accounts for 84-85% of total revenues. It is a market leader with more than 12% market share in the overall wires & cables market and more than 18% market share in the organized market. Over the last five years, Polycab has grown its revenue at a CAGR of 14% outpacing the overall industry growth of ~11%. The company has been improving its mix over the last few years from a relatively commoditized cable and wire business to making inroads in the FMEG (Fast Moving Electrical Goods) segment, which...
IEX saw a marginal increase in revenue growth of ~5% on account of an increase in volumes (~13% YoY), however revenue saw a hit to the tune of ~1213% on account of no trading in REC during the quarter owing to stay order from Honourable Appellate Tribunal for Electricity (APTEL). This affected the total volume growth including REC which saw 3.8% YoY growth during Q2FY21. Other Income saw a decline of 31% YoY on account of lower interest rate as well as no MTM benefit in absence of rate cut during the quarter. Employee expenses saw a steep increase of ~40% YoY on account of fresh hiring for the new products launched during the quarter as well as increments....
Broad based growth across Geographies and Verticals All verticals except Telecom & Hi-tech (down 0.6% QoQ in USD terms) were up, Transportation (up 4.1% QoQ), Industrial Products (up 4.6%), and Plant Engineering (up 8.1%). Medical Devices continues to report healthy growth at 7.4% QoQ. Broad-based growth across geographies led by RoW, up 10.8% QoQ...
