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Tata Metaliks Q4 net profit slips 2.7%; mgmt says no slowdown signs yet

Updated : April 15, 2021 12:33:26 IST

Tata Metaliks Ltd on Wednesday posted Rs 74.99 crore net profit for the quarter ended March 31, 2021, a fall of 2.66 percent. The company's profit for the corresponding period in 2019-20 was at Rs 77.04 crore, Tata Metaliks Ltd said in a BSE filing.

The revenue from operations is up 27 percent year-on-year and operating profits are up 19 percent.

Detailing the Q4 numbers, Sandeep Kumar, MD of the company said that volumes of pig iron were at 2.87 lakh tonne and Q4 deliveries were at about 80,000 tonne. Ductile iron pipe sales volume was at 1.94 lakh tonne for FY21 and deliveries were at 75,000 tonne which is an all-time quarterly high, he added.

He also said that Q4 did not see a slowdown and the company has an order book upwards of 16-18 months. However, he said that there could be a slowdown if projects are impacted by the second wave of COVID.

“At the moment we have not seen any slowdown. In fact we have an order book which is upwards of 16-18 months right now which typically used to be between 9-11 months. So, it is almost double of that and that consistently continues to be there,” he said.

Kumar said that EBITDA margins for ductile iron pipes will remain healthy at 23-24 percent. Cash position is also healthy for the company at Rs 186 crore, he said.

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