Maharashtra Seamless reported a 26.81% drop in the Sep-20 quarter consolidated top line sales revenues at Rs578.63cr. The company operates in the seamless steel tubes segment and largely caters to corporate and industrial customers. This had led to a sharp fall in sales in Jun-20 quarter and the recovery has only been partial in the Sep-20 quarter. It still needs to gain another 35% to 40% to touch pre-COVID levels in terms of sales.
For the Sep-20 quarter, the operating profits dropped by 32.66% at Rs97.88cr. The operating margin or OPM got impacted due to the revenue effect. The operating margin or the OPM actually shrank from 18.39% in the Sep-19 quarter to 16.92% in the Sep-20 quarter.
Profit after tax (PAT) for the Sep-20 quarter was also down by 54.74% at Rs83.33cr on the back of the operating impact getting transmitted. This resulted in PAT margins shrinking sharply from 23.29% in Sep-19 to 14.40% in Sep-20.
Financial highlights for Sep-20 compared yoy and sequentially
|
|
Maharashtra Seamless |
|
|
|
|
Rs in Crore |
Sep-20 |
Sep-19 |
YOY |
Jun-20 |
QOQ |
|
Revenues |
578.63 |
790.56 |
-26.81% |
458.98 |
26.07% |
|
Operating Profit |
97.88 |
145.35 |
-32.66% |
72.10 |
35.76% |
|
Profit After Tax (PAT) |
83.33 |
184.13 |
-54.74% |
45.00 |
85.18% |
|
|
|
|
|
|
|
|
Diluted EPS (Rs) |
₹ 12.47 |
₹ 27.62 |
|
₹ 2.86 |
|
|
Operating Margin |
16.92% |
18.39% |
|
15.71% |
|
|
PAT Margins |
14.40% |
23.29% |
|
9.80% |
|
Related Tags: