Stylam Industries spurted 6.03% to Rs 1146.90 after the company's consolidated net profit rose 61.19% to Rs 24.21 crore on 43.26% increase in net sales to Rs 246.33 crore in Q2 September 2022 over Q2 September 2021.
On a consolidated basis, profit before tax jumped 56.10% year-on-year to Rs 32.5 crore in Q2 September 2022.Total expenses jumped 37.83% YoY to Rs 214.09 crore in Q2 FY23. Cost of material consumed jumped 43.70% to Rs 145.15 crore during the quarter.
There is reduction in the prices of raw material and logistic freight, which reduces the cost and has contributed towards improved EBITDA margin for this quarter, the company said.
"Our focus mainly revolves around boosling sales and simultaneously taking measure to control the cost of the business, the result of which apparent in the near future. Management is now focusing on domestic sales to increase the top line as well as bottom line. Management is now focuses on growth of Acrylic business too. we are optimistic & anticipating a positive impact will be seen in near future," it added.
Net cash from operating activities stood at Rs 2.52 crore in Q2 FY23, lower than 12.37 crore in Q2 FY22.
Stylam Industries makes interior and exterior designing products including laminates, prelam boards, exterior cladding and acrylic solid surface, etc.
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