Revenue from operations increased 8.34% YoY to Rs 731.81 crore during the quarter.
Profit before tax jumped 50.92% YoY to Rs 51.60 crore in Q4 FY24.
EBITDA stood at Rs 79 crore in the quarter ended 31 March 2024, registering the growth of 30.4% as compared with Rs 61 crore in the quarter ended 31 March 2023. EBITDA margin expanded to Rs 10.9% in Q4 FY24 from 9% in corresponding quarter last year.
On full year basis, the company’s consolidated net profit increased 33.63% to Rs 96.88 crore on 4.57% jump in revenue from operations to Rs 2,577.32 crore in FY24 over FY23.
“We are optimistic about the future, anticipating a positive shift in the domestic demand landscape in the upcoming years, particularly from the second half of the current fiscal. This optimism is underpinned by several factors such as (i) rebound in domestic demand, driven by the lag effect of new construction projects, where tiles are typically applied during the finishing stages; (ii) expected growth acceleration in the real estate sector, which is poised to contribute significantly to the domestic market environment; (iii) continued momentum in exports, which are expected to provide further support to the Indian tile industry,” the company stated in regulatory filing.
Meanwhile, the company’s board has declared a final dividend of Rs 3 per share for FY24.
Incorporated in 1968, Somany Ceramics exports ceramics tiles, sanitaryware, bath fittings, and allied products. The company has a market presence in more than 55 countries across 6 continents. The company provides a range of products such as wall tiles, floor tiles polished and glazed vitrified tiles, sanitary ware, and bathroom fittings. It has production facilities in Kadi (Gujarat) and Kassar (Haryana), India, as well as other joint venture facilities with a total production capacity of 60 million square meters annually.