Revenue from operations jumped 11.83% YoY to Rs 353.17 crore during the quarter.
Profit before exceptional items and tax was spiked 86% to Rs 32.55 crore in Q2 FY25 as compared with Rs 17.50 crore in Q2 FY24.
Total expenses rose by 7.41% to Rs 323.79 crore in Q2 FY25 as compared with Rs 301.44 crore posted in Q2 FY24. Cost of material consumed was at Rs 232.69 crore (up 20.3% YoY) and employee benefits expense stood at Rs 41.85 crore (up 19.85% YoY) during the quarter.
On half year basis, the company’s net profit rallied 58.92% to Rs 56.29 crore on 11.65% increased in revenue from operations to Rs 896.33 crore in H1 FY25 over H1 FY24.
Meanwhile, the company’s board approved investment by purchase of shares of The Ramco Cements for a value upto Rs 160 crore in one or more tranches.
Further, the company board also approved raising of credit facilities from Banks/ Mutual Funds/ NBFCs by way of secured, rated, redeemable, non-convertible debentures/ term loan or any other borrowing mode as required/ stipulated by banks/ mutual funds / NBFCs upto an amount not exceeding Rs 160 crore in one or more tranches, for corporate requirements and for funding the above investment.
Ramco Industries (RIL) is a part of the Chennai-based Ramco Group and is primarily involved in the manufacture of asbestos-based FC sheets, which find application as a roofing material. Apart from FC sheets, RIL is involved in the spinning of cotton yarn and manufacturing of calcium silicate boards. RIL has a 100% subsidiary in Sri Lanka named Sri Ramco Lanka (Private) Limited, which is involved in manufacturing and marketing FC sheets in the country. The Ramco Group of companies has interests in cement, FC sheets, textiles and information technology.
The counter hit a 52-week high of Rs 293.95 on the BSE.