ASI Industries Limited announces Q3FY21 results

ASI Industries Limited, amongst India's leading stone mining and quarrying companies announced today its financial results for the third quarter (Q3FY21) and nine months (9MFY21) ended 31st December 2020.

Consolidated 9M FY21 - Highlights

- Total Revenue was ₹1,603.4 mn for 9M FY21 as compared to ₹1,875.9 mn in 9M FY20
- EBITDA stood at ₹346.3 mn for 9M FY21 as compared to ₹430.3 mn during 9M FY20
- EBITDA Margin at 21.6% for 9M FY21 as against 22.9% in 9M FY20
- Net profit stood at ₹111.8 mn for 9M FY21 as compared to ₹240.1 mn in 9M FY20

Consolidated Q3 FY21 - Highlights

- Total Revenue was ₹552.5 mn for Q3 FY21 as compared to ₹566.6 mn in Q3 FY20
- EBITDA stood at ₹139.0 mn for Q3 FY21 as compared to ₹167.4 mn during Q3 FY20
- EBITDA Margin at 25.2% for Q3 FY21 as against 29.5% in Q3 FY20
- Net profit stood at ₹52.9 mn for Q3 FY21 as compared to ₹105.5 mn in Q3 FY20

Commenting on the financial results, CMD Mr. Deepak Jatia said, "We have managed to perform well under challenging economic environment on the back of cost rationalization initiatives by the Company. We are witnessing strong signs of revival and remain positive on the demand environment going forward. We have started the pre-production of Engineered Stone and expect to commercialize the product by end of this financial year."

He also said, "We remain optimistic on the growth outlook and expect strong recovery in the overall performance in the future."

Shares of ASI Industries Ltd was last trading in BSE at Rs.15.5 as compared to the previous close of Rs. 15.05. The total number of shares traded during the day was 56392 in over 106 trades.

The stock hit an intraday high of Rs. 15.7 and intraday low of 15. The net turnover during the day was Rs. 863590.

Source : Equity Bulls

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