The share price of sanitaryware and packaging products maker HSIL Ltd surged over 9 percent in early trade on Tuesday after the company reported a multi-fold jump in its net profit for the fourth quarter ended March 2021.
The company’s net profit in Q4FY21 jumped to Rs 33.02 crore from Rs 3.38 crore in the January-March period a year ago.
Revenue from operations during the quarter rose 37.35 percent to Rs 633.21 crore from Rs 461.03 crore, YoY.
For the fiscal year 2020-21, the net profit was up 81.87 percent to Rs 88.06 crore from Rs 48.42 crore in the previous year.
“During the year, we focused on our costs and efficiencies to deliver a robust performance on a quarter-on-quarter basis. The improvement in margins over the last year clearly demonstrates our abilities to work and deliver under uncertain times,” said Sandip Somany, Vice-Chairman and Managing Director, HSIL.
During the quarter, the company delivered an EBITDA of Rs 102 crore, registering a growth of 65.5 percent on YoY basis. EBITDA margins improved to 15.9 percent in Q4FY21 from 13.1 percent in Q4FY20.
"Packaging Products Division witnessed increased demand for glass bottles from multiple user segments thereby driving better volumes. The EBIT margins improved significantly from 11.2 percent in Q4FY20 to 17.9 percent in Q4 FY21. The margins were driven by better product mix and higher operational efficiencies at the plants resulting in lower fuel and power costs per unit," the company said in a regulatory filing.
At 9:50 am, the shares of HSIL were trading 7.86 percent higher at Rs 186.55 apiece on the BSE.