Mangalam Cement hits record high after Q1 net profit rises nearly three-fold to Rs39.94cr

The company reported 57.14% growth in total revenues in Q1FY22 on a consolidated basis at Rs355.48cr.

Jul 19, 2021 09:07 IST India Infoline News Service

Mangalam Cement Limited's net profit for the quarter ended June 2021 increase 189% yoy to Rs39.94cr compared to Rs13.80cr in June ended June 2020. The net profit in Q1FY22 was 10% higher qoq compared to Rs36.40cr in Q4FY21.

The company reported 57.14% growth in total revenues in Q1FY22 on a consolidated basis at Rs355.48cr, compared to Rs226.22cr in Q1FY21. On a sequential basis, the revenues were down 13.47% compared to Rs410.82cr revenues reported in Q4FY21.

EPS in Q1FY22 at Rs14.96 compared to Rs5.17 in Q1FY21 and Rs13.64 in Q4FY21.

Post Q1 earnings, the company stock hit record 52-week high of Rs429 per piece during early trade on Monday. At round 9.30 AM, Mangalam Cement Ltd was trading at Rs423.70 per piece up by Rs29.8 or 7.57% from its previous closing of Rs393.90 per piece on the BSE.

“Scheme of Amalgamation between Mangalam Timber Products Limited with Mangalam Cement Limited w.e.f. April 1, 2019 (appointed date), has been filed with respective NCLTs. The equity shareholders, secured and unsecured creditors of both companies have approved the Scheme in their respective meeting held as per order of Hon'ble NCLTs. Petition for approval has already been filed with the NCLTs and final hearing date has been scheduled by NCLT on July 22, 2021. Awaiting sanction of the scheme, no impact has been considered in these financial results,” the company said in a filing on Sunday.

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