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Stock Report
Prakash Industries Ltd - Key Updates of Q4FY22
Posted On : 2022-05-03 15:40:08( TIMEZONE : IST )
During the year ended 31st March, 2022, the Company has achieved Net Sales of Rs. 3929 Crores and EBITDA of Rs. 399 Crores, reflecting growth of 22% and 24% respectively over the previous financial year. Profit after Tax for the year also grew by 77% to Rs. 169 Crores.
During the quarter ended 31st March, 2022, the Company has achieved Net Sales of Rs. 1157 Crores, EBITDA of Rs. 109 Crores and Profit after Tax of Rs. 53 Crores.
Commercial Coal Mine
The Ministry of Coal had awarded Vesting Order for Bhaskarpara Coal Mine in favour of the Company on 18th November, 2021 . The Company is fast tracking the opening of the coal mine as the Mining Plan for a rated capacity of 10 lakh tonnes per annum has already been approved in-principle by the Ministry of Coal on 10th March, 2022. This mine shall go a long way in enhancing the revenue and profitability of the Company, more so, in a scenario marked by global coal shortages.
Long Term Coal Linkages
The Company had secured Long Term Coal Linkages of around 10 lakh tonnes per annum for the next 5 years in the recent coal linkage auction conducted by Coal India Limited. These linkages will provide long term stability to the operations of the Company and improve its operating and financial performance.
Iron Ore Mining
The Company mined 7.8 lakh tonnes of Iron Ore from its Sirkaguttu mine, Odisha duriri year, up by 65% over the previous financial year. The mining plan of Sirkaguttu mine has been enhanced from 7.5 lakh tonnes to 10 lakh tonnes per annum, which shall result in higher extraction, thereby further adding to the margins of the Company.
Shares of Prakash Industries Limited was last trading in BSE at Rs. 75.90 as compared to the previous close of Rs. 76.15. The total number of shares traded during the day was 171515 in over 1709 trades.
The stock hit an intraday high of Rs. 76.95 and intraday low of 73.55. The net turnover during the day was Rs. 12827295.00.
