Visaka Industries posts stellar performance in Q1FY19
Visaka Industries reported strong growth over previous year and sequentially. Further, the V-panel unit in Jhajjar, Haryana, is running at 100 per cent capacity utilisation level.
The total revenue for the quarter was largely flat, with a marginal increase of 1.5 per cent YoY. However, on a sequential basis, the revenue grew by 33.2 per cent QoQ to Rs.346 crore in Q1FY19 as against Rs 341 crore in Q1FY18 and Rs.260 crore in the previous quarter.
The EBITDA for the quarter rose by 14.5 per cent YoY to Rs.53 crore in Q1FY19 versus Rs 46 crore in Q1FY18 . The EBITDA margin expanded by 180 bps to 15.4 per cent in Q1FY19 as compared with 13.6 per cent in Q1FY18.
The net profit for the quarter rose by 32 per cent to Rs 30 crore in Q1FY19 compared with Rs.23 crore in the corresponding quarter previous year. The stock is trading up by 3.3 per cent at Rs 614