ASI Industries Limited FY20 Revenue at Rs. 2,504.7 mn

ASI Industries Limited (Formerly known as Associated Stone Industries (Kotah) Ltd.), amongst India's leading stone mining and quarrying companies announced today its financial results for the fourth quarter (Q4 FY20) and full year (FY20) ended March 31st, 2020. The key consolidated financials for the quarter are:

Consolidated FY20 - Highlights

- Total Revenue was Rs. 2,504.7 mn for FY20 as compared to Rs. 2,721.8 mn in FY19, a decrease of 8.0%
- EBITDA stood at Rs. 556.3 mn for FY20 as compared to Rs. 553.9 mn during FY19, an inecrease of 0.4%
- EBITDA Margin at 22.2% for FY20 as against 20.4% in FY19, an increase of 186 bps
- Net profit stood at Rs. 314.0 mn for FY20 as compared to Rs. 224.6 mn in FY19, an increase of 39.8%

Consolidated Q4 FY20 - Highlights

- Total Revenue was Rs. 628.8 mn for Q4 FY20 as compared to Rs. 835.3 mn in Q4 FY19, a decrease of 24.7%
- EBITDA stood at Rs. 126.0 mn for Q4 FY20 as compared to Rs. 217.8 mn during Q4 FY19, a decrease of 42.2%
- EBITDA Margin at 20.0% for Q4 FY20 as against 26.1% in Q4 FY19, a decrease of 604 bps
- Net profit stood at Rs. 73.9 mn for Q4 FY20 as compared to Rs. 105.2 mn in Q4 FY19, a decrease of 29.7%

Commenting on the financial results, CMD Mr. Deepak Jatia said, "The fiscal year has been challenging for us as we witnessed economic and operational headwinds. Not only did the NGT ruling close our operations for an extended period of time, the onset of the pandemic had a double impact on the operations in Kota. Despite this, we have managed to give satisfactory performance and are now focusing on strategies to take the Company to next leg of growth. The NGT ruling is past us and we have resumed most of our operations at almost full capacity."

He also said "We remain optimistic on the growth prospects of the Company and are confident of achieving improved performance going forward.A notable highlight is that our Engineered Stone project in Jaipur is completed and we are waiting for improvement in the global situation to start accepting orders. We believe this new asset will take the company to the next level of growth."

Shares of ASI Industries Ltd was last trading in BSE at Rs.10.3 as compared to the previous close of Rs. 10.42. The total number of shares traded during the day was 18023 in over 88 trades.

The stock hit an intraday high of Rs. 11.1 and intraday low of 10.06. The net turnover during the day was Rs. 190596.

Source : Equity Bulls

Keywords