Somany Home Innovation reports consolidated revenue growth of 68.2% to Rs613.30cr in Q4FY21

PAT jumps 9.7x to Rs22.3cr. EBITDA increased 181.1% yoy to Rs69.93cr owing to strong distribution efficiencies and prudent capital allocation.

May 27, 2021 09:05 IST India Infoline News Service

Quarterly Results
Somany Home Innovation Ltd (SHIL), the fastest growing player in Consumer Appliances and the leader in the Building Product segment with 3 distinct distribution channels to market; on Wednesday announced its financial results for the quarter and year ended March 31st, 2021.

Revenue from operations for Q4FY21 on consolidated basis increased 68.2% yoy to Rs613.30cr, on the back of an expanding consumer base and a product portfolio driven by the focus on innovation and R&D. EBITDA increased 181.1% yoy to Rs69.93cr owing to strong distribution efficiencies and prudent capital allocation despite higher branding and advertising spend and increasing input costs.

Consolidated EBITDA margin expanded by 4.6% and stood at 11.4% yoy. The Company reported PAT at Rs22.3cr, growing 9.7x on yoy basis.

Consolidated Revenue from Operations for FY21 grew 10% yoy to Rs1775.21cr. EBITDA at Rs161.18cr, growth of 43.3% on yoy basis with EBITDA margins of 9.1%. EBIT of Rs121.91cr, growth of 83.4% on yoy basis with EBIT margins of 6.9%.

For Consumer Appliances Business − Revenue increased by 91.5% to Rs140.94cr on yoy basis driven by innovative product launches. EBIT grew to Rs7.48cr from negative EBIT of Rs0.63cr yoy.

Building Products Business − Revenue improved by 67.4% to Rs458.95cr on yoy basis led by strong growth across categories. EBIT grew to Rs54.62cr from Rs16.33cr yoy.

Commenting on the Company’s performance, Sandip Somany, Chairman, Somany Home Innovation Limited, said, “SHIL delivered another good quarter of revenue growth and robust profitability accompanied by continuing strong margins. Our Consumer Appliances business supported by an exciting and innovative range of IoT driven product offerings has contributed well to this growth. Our Building Products segment too sustained its upwards trajectory supported by a widespread product portfolio and improving demand resulting from the resumption in increasing real estate and construction activities.

Our plastic pipes and fittings business continues to grow at a rapid rate on the back of top-quality products and strong engagement with the plumber community in India.”

He further added, “We will continue to enhance our omni -channel presence to support our expanding range of products. While the ongoing pandemic does present challenges, our medium to long term business outlook is extremely strong. We remain confident of delivering robust and profitable growth and creating value for all our stakeholders.”

At around 9.55 AM, Somany Home Innovation was trading at Rs327.40 per piece down Rs12.90 or 3.79% on the BSE. It hit a day's high of Rs357.30 per piece early on after opening at Rs339.50 per piece but went out of favour amid volatile trade.

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