Stylam Industries Q2 Results Review - Beat On All Fronts; Upgrade To 'Buy': Yes Securities

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Yes Securities Report.Stylam Industries Ltd. reported a strong set of numbers for Q2 FY25, an all-round beat on our estimates. Company’s revenue grew by 12%YoY which was primarily driven by 11% improvement in ASP while total volumes remained flattish. Expansion in ASP was largely owing to better product-mix. Exports, which constitute 72% of sales, registered a stellar growth of 24.5%YoY to Rs 1.88 billion (two-year compound annual growth rate stood at 7%). Domestic sales (28% of sales), declined by 11% YoY. Notably the domestic biz run-rate has been at ~Rs 750 million for past 13-quarters. During the quarter, one plant operated at 90% utilization and other plant operated at ~80-85% utilization level. Gross margins improved from 46.8%/44.5% in Q2 FY24/Q1 FY25 to 49% in Q2 FY25 which led to expansion in Ebitda margins from 20.2%/17.3% in Q2 FY24/Q1 FY25 to 20.7%. Hence, company registered an Ebitda growth of 15%YoY to Rs 544 million. Finance cost was elevated for the quarter owing to short-term debt of Rs 66.7 million undertaken over H1 FY25, which capped the bottom-line growth..Click on the attachment to read the full report:.UltraTech Cement Q2 Results Review - Expansion To Support Growth; Price Hike Also Crucial: Dolat Capital.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Stylam Industries Q2 Results Review - Beat On All Fronts; Upgrade To 'Buy': Yes Securities

The brokerage remains confident on the company’s growth plan and reckon company’s topline should grow by 16%CAGR over FY24-FY27E.

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Stylam Industries Q2 Results Review - Beat On All Fronts; Upgrade To 'Buy': Yes Securities

The brokerage remains confident on the company’s growth plan and reckon company’s topline should grow by 16%CAGR over FY24-FY27E.

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