Homeearnings news

Somany Ceramics Q2: Likely to take price increase of 3-4% by November-end

earnings | IST

Somany Ceramics Q2: Likely to take price increase of 3-4% by November-end

Mini

Somany Ceramics would take a 3-4 percent price increase in the next 15-20 days. By December, the company would have taken a total price rise of about 12 percent, Abhishek Somany, Managing Director, told CNBC-TV18.

Somany Ceramics would take another 3-4 percent price increase in the next 15-20 days, Abhishek Somany, Managing Director, told CNBC-TV18.

The company reported strong earnings for the September-ended quarter with revenue and net profit rising year-on-year (YoY).
“We took about 4.5 percent (price hike) up to H1, September end, and we have taken another 3.5 percent since then; we are in the middle of Q3 and there would be another 3-4 percent increase in the next 15-20 days. So, the overall increase would be 4.5 percent and another 8-9 percent. So, the total would be about 12 percent, but that would happen only by December,” Somany said.
On capacity utilisation, he said, “For H1, the capacity utilisation for tiles and faucet has been almost 100 percent; leave alone the one month of the pandemic outage. At sanitaryware, we were at 40 percent and currently at 100 percent even there. So, Q3 and Q4, fairly confidently, all the three segments would be at 100 percent.”
For the entire management interview, watch the video
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!