Tube Investments stock erase early gains post Q4 numbers

It reported a 165.1% yoy fall in consolidated net revenues for the Mar-21 quarter at Rs2,732.82cr.

Jun 18, 2021 03:06 IST India Infoline News Service

Tube Investment
Tube Investments Ltd recorded net profits in the Mar-21 were up 141.91% at Rs143.84cr helped along by an EBITDA boost from all the verticals expect the power systems segment which turned EBITDA negative in the Mar-21 quarter. The higher revenues and other income compensated for the 3-fold spike in raw material costs.

The stock has erased morning gains to trade in the red on the stock exchanges. Currently, it is trading at Rs1,192.55 down by Rs39.7 or 3.22% from its previous closing of Rs1,232.25 on the BSE.

It reported 165.1% yoy fall in consolidated net revenues for the Mar-21 quarter at Rs2,732.82cr. On a sequential basis, net sales revenues were up 60.76% compared to total revenues in the Dec-20 quarter at Rs1,699.99cr.

Full year revenues for FY21 were 28.1% higher at Rs6,083cr. In terms of verticals, there was strong sales growth in cycles & accessories, engineering, metals formed systems, industrial systems and power systems. Barring Power Systems, all other verticals were EBITDA positive.

The Board of Directors of the Company has recommended a Final dividend of Rs.1.50 per share (i.e.150%), subject to the approval of the shareholders.

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