Godawari Power & Ispat was locked in an upper circuit of 5% at Rs 1,777.65 after the company posted an 835% jump in consolidated net profit to Rs 434.87 crore on a 66.9% rise in net sales to Rs 1,126.18 crore in Q1 FY22 over Q1 FY21.
On a sequential basis, the company's net profit increased by 33% on a nearly 9% decline in net sales in Q1 FY22 over Q4 FY21. Meanwhile, the company's consolidated profit before tax rose 26.7% quarter on quarter and 667% year on year to Rs 572.69 crore in Q1 FY22.The company reported a 22% quarter on quarter jump and 354% year on year jump in consolidated EBITDA to Rs 573.1 crore in Q1 FY22. EBITDA margin improved to 50.9% in Q1 FY22 from 38% in Q4 FY21 and 19% in Q1 FY21.
Shares of Godawari Power hit a record high of Rs 1,777.65 in intraday today. The stock is up 961% from its 52-week low of Rs 167.40 posted on 28 July 2020. On the BSE, 16,255 shares were traded in the counter so far compared with average daily volumes of 13,747 shares in the past two weeks
Godawari Power & Ispat is an end-to-end manufacturer of mild steel wires. In the process, the company manufactures sponge iron, billets, ferro alloys, captive power, wires rods (through subsidiary company), steel wires, oxygen gas, fly ash brick and iron ore pellets.
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