384.20 10.25 (2.74%)
192.0K Volume
NSEJan 22, 2021 03:31 PM
The 4 reports from 2 analysts offering long term price targets for Somany Ceramics Ltd. have an average target of 225.00. The consensus estimate represents a downside of -41.44% from the last price of 384.20.
Summary | Date | Stock | Broker | Price at Reco. | Target | Price at reco Change since reco(%) | Upside(%) | Type | Report | Discuss |
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2020-11-09 | Somany Ceramics Ltd. + | ICICI Securities Limited | 232.95 | 290.00 | 232.95 (64.93%) | Target met | Buy | Somany Ceramics
ICICI Securities Limited
Somany has become prudent with credit control measures aiding working capital management and debt reduction. Consolidated debt was down | 84 crore in H1FY21 to | 382 crore, driven by working capital optimisation. It will be important to monitor how the sales traction pick up from here coupled with cost rationalisation sustainability. Given the alluring valuations, improved margins trajectory and balance sheet repair initiatives, we upgrade to BUY recommendation (vs. HOLD, earlier) a revised target price...
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2020-08-13 | Somany Ceramics Ltd. + | BOB Capital Markets Ltd. | 133.30 | 160.00 | 133.30 (188.22%) | Target met | Buy | |||
2020-08-12 | Somany Ceramics Ltd. + | BOB Capital Markets Ltd. | 133.30 | 160.00 | 133.30 (188.22%) | Target met | Buy | |||
2020-02-11 | Somany Ceramics Ltd. + | BOB Capital Markets Ltd. | 219.00 | 345.00 | 219.00 (75.43%) | Target met | Buy | |||
2020-01-09 | Somany Ceramics Ltd. + | BOB Capital Markets Ltd. | 221.45 | 340.00 | 221.45 (73.49%) | Target met | Buy | |||
2019-09-09 | Somany Ceramics Ltd. + | ICICI Securities Limited | 228.70 | 250.00 | 228.70 (67.99%) | Target met | Hold | Somany Ceramics
ICICI Securities Limited
Somany Ceramics has informed the stock exchanges that a cheque of | 26.2 crore issued in favour of the company by its stock broker Mentor has bounced owing to insufficient funds. Somany has issued demand notices for repayment to Mentor as per requirements of the applicable law. In view of default by Mentor, Somany has filed a case against Mentor and its directors with Haryana Police. Non recovery of these funds could lead the...
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2019-08-06 | Somany Ceramics Ltd. + | ICICI Securities Limited | 319.20 | 370.00 | 319.20 (20.36%) | Buy | Somany Ceramics
ICICI Securities Limited
Share of GVT in product portfolio rises to 22% in Q1FY20 Somany's sales volumes grew 8.0% YoY to 11.9 MSM despite several operational challenges faced by the company in Q1FY20: a) lower inventory offtake at dealers' level due to lower end-user demand amid liquidity squeeze in the economy; b) stricter credit control measures by the company that further impacted sales (| 25-30 crore impact); c) two JVs were shut in May, 2019 for refurbishment. The effect of all these trickled down to the overall operating performance of Somany that reported ~80% utilisation in...
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2019-08-05 | Somany Ceramics Ltd. + | Reliance Securities | 320.40 | 335.00 | 320.40 (19.91%) | Hold | ||||
2019-08-05 | Somany Ceramics Ltd. + | BOB Capital Markets Ltd. | 320.40 | 445.00 | 320.40 (19.91%) | Buy | ||||
2019-06-19 | Somany Ceramics Ltd. + | Chola Wealth Direct | 435.00 | 490.00 | 435.00 (-11.68%) | Buy | EARNINGS UPDATE-SOMANY 4QFY19
Chola Wealth Direct
Sector: Construction Material /Mid-Cap | Earnings Update 4QFY19 Background: Somany Ceramics Ltd (SCL) was incorporated in 1969, and is now the third largest organised tiles manufacturer in India. Company, currently has installed capacity of 51 MSM and through outsourcing model has access to 9 MSM of additional capacity. Company also has capacity to produce 1.8mn pcs of sanitary ware products. Company's has two own manufacturing plant in Kassar, Haryana (19.63 MSM) and Kadi, Gujarat (6.65MSM). Company's has seven subsidiaries / Associate plants located in Gujarat with a capacity of 29MSM. In FY18, SCL has sold 49.52 MSM and we have estimated total industry market share of ~6.3% (volume), while it has...
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2019-05-23 | Somany Ceramics Ltd. + | ICICI Securities Limited | 387.95 | 475.00 | 387.95 (-0.97%) | Buy | Somany Ceramics
ICICI Securities Limited
To increase share of GVT in product portfolio Somany's sales volumes grew 3.3% YoY to 51.2 MSM in Q4FY19 despite conscious credit monitoring. The 3.5 MSM Andhra GVT plant was commissioned in March, 2019 and is expected to reach 100% utilisation in Q2FY20E. Secondly, Somany is upgrading Kadi plant (| 30 crore capex) to augment manufacturing of value-added products and is expected to be operational by November, 2019. With new capacities being added and share of value-added products expected to increase, the management has guided...
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2019-05-22 | Somany Ceramics Ltd. + | BOB Capital Markets Ltd. | 375.05 | 505.00 | 375.05 (2.44%) | Buy | Somany Ceramics (BUY): Tepid quarter but guidance upbeat
BOB Capital Markets Ltd.
Somany Ceramics (SOMC) reported a 4% YoY dip in Q4FY19 consolidated revenue to Rs 5.2bn with tile volumes falling 3.3%. Consolidated operating margins rose 210bps YoY to 13.6% due to higher gross margins (+198bps), aiding EBITDA/PBT growth of 13.4%/16.6% YoY. Management has guided for double-digit volume growth in tiles, with stronger margins in FY20. We trim...
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2019-02-18 | Somany Ceramics Ltd. + | Chola Wealth Direct | 307.75 | 469.00 | 307.75 (24.84%) | Target met | Buy | |||
2019-02-13 | Somany Ceramics Ltd. + | ICICI Securities Limited | 328.95 | 410.00 | 328.95 (16.80%) | Target met | Buy | Somany Ceramics
ICICI Securities Limited
EBITDA margin expanded 150 bps QoQ to 8.2% in Q3FY19 as the company took a price hike across product portfolio in Q3FY19 PAT grew 2x QoQ to | 9.2 crore (above our expectation of | 8.5 crore) mainly on account of higher-than-expected EBITDA margin Clocks 8.0% YoY volume growth in Q3FY19 Somany Ceramics' (Somany) sales volumes grew 8.0% YoY (6.2% QoQ) to 12.77 MSM in Q3FY19 despite credit control measures implemented by the company from Q1FY19. The Andhra Pradesh plant (3.9 MSM GVT...
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2018-12-27 | Somany Ceramics Ltd. + | ICICI Securities Limited | 322.00 | 410.00 | 322.00 (19.32%) | Target met | Buy | Somany Ceramics
ICICI Securities Limited
We anticipate Somany's sales volumes will improve in H2FY19 as operational disruption such as trucker's strike, Kerala flood, software related issues & credit control measures are behind us. Additionally, 3.5 million square metre (msm) GVT capacity addition in Andhra Pradesh will further aid volume growth for the company from FY20E. We expect Somany's sales volume to grow 11.3% in FY20E. Furthermore, with the company taking price hikes across the product portfolio, an increase in share of value-added products, expected fall in gas prices & higher...
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2018-11-26 | Somany Ceramics Ltd. + | ICICI Securities Limited | 292.80 | 375.00 | 292.80 (31.22%) | Target met | Buy | Somany Ceramics
ICICI Securities Limited
We met the management of Somany Ceramics. The key takeaways are: -i) the company is planning to increase its share of value added products in its product portfolio with commissioning of new 3.5 million sq mt (MSM) GVT capacity in Andhra Pradesh (expected to be commissioned in February, 2019), ii) gas prices could increase further in Q3FY19E from Q2FY19 level of | 40/SCM and start declining from Q4FY19E with the recent sharp fall in crude price, iv) to double faucet manufacturing facility...
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2018-11-05 | Somany Ceramics Ltd. + | ICICI Securities Limited | 332.00 | 375.00 | 332.00 (15.72%) | Target met | Hold | Somany Ceramics
ICICI Securities Limited
Somany Ceramics' (Somany) sales volumes de-grew by 3.6% YoY to 12.0 million sq. meter (MSM) (our estimate: 13.6 MSM) Topline de-grew 9.0% YoY to | 392.8 crore (below our expectation of | 434.1 crore) on account of operational disruptions EBITDA margin contracted sharply by 520 bps YoY to 4.2% and was below our estimate of 5.9% mainly on account of higher raw material expenses & higher fuel costs amid higher natural gas prices PAT profit declined by 78.4% YoY to | 4.6 crore and was below our...
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2018-08-13 | Somany Ceramics Ltd. + | Chola Wealth Direct | 480.30 | 597.00 | 480.30 (-20.01%) | Buy | SOMANY CERAMICS-1QFY19
Chola Wealth Direct
Sector: Construction Material /Mid-Cap | Earnings Update 1QFY19 Background: Somany Ceramics Ltd (SCL) was incorporated in 1969, and is now the third largest organised tiles manufacturer in India. Company, currently has installed capacity of 55.29 MSM and through outsourcing model has access to 9 MSM of additional capacity. Company also has capacity to produce 1.8mn pcs of sanitary ware products. Company's has two own manufacturing plant in Kassar, Haryana (19.63 MSM) and Kadi, Gujarat (6.65MSM). Company's has seven subsidiaries / Associate plants located in Gujarat with a capacity of 29MSM. In FY18, SCL has sold 49.52 MSM and we have estimated total industry market share of ~6.3% (volume), while it has...
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2018-08-09 | Somany Ceramics Ltd. + | ICICI Securities Limited | 487.25 | 520.00 | 487.25 (-21.15%) | Hold | Somany Ceramics
ICICI Securities Limited
EBITDA margin expanded 120 bps YoY to 6% but it was below our estimate of 8.5% due to higher-than-expected raw material costs (14.8% as percentage of sales in Q1FY19 vs. our estimate of 12.0%) and higher power & fuel cost amid higher natural gas prices PAT grew 39.4% YoY to | 8.4 crore, below our estimate of | 19.0 crore due to a lower-than-expected topline and EBITDA margins Macro environment & competition impact revenues Somany reported revenue growth of 8.6% YoY to | 362.2 crore. It was...
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2018-08-09 | Somany Ceramics Ltd. + | Reliance Securities | 487.25 | 700.00 | 487.25 (-21.15%) | Buy | Somany Ceramics - 1QFY19 Resut Update
Reliance Securities
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...
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