VST Industries - Q3 Results Review - Nirmal Bang

- Net sales stood at Rs 174.95 cr in Q3FY13 (1.2% up YoY and flat QoQ).

- EBITDA was down by 10.9% YoY to Rs. 49.41 cr and up by 14.01% QoQ. The increase in raw-material cost which accounts for 50.1% in Q3FY13 as compared to 44.4% in Q3FY12 as a % of sales resulted into the decline in EBITDA YoY. The gross margin declined by 570bps YoY due to the raw-material cost.

- EBITDA margin stood at 28.2% in Q3FY13 as compared to 32.1% in Q3FY12 and 24.8% in Q2FY13.

- The company reported a Net profit of Rs 33.4 crores in Q3FY13 , down by 12% YoY and up by 21% QoQ basis.

- The PAT margin stood at 19.1% in Q3FY13 as against 22%in Q3FY12 and 15.8% in Q2FY13.

Source : Equity Bulls

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