Everest Kanto's stock rallies 5% after Q3FY22 revenue rises by 88%

16 Feb 2022 , 03:09 PM

Everest Kanto Cylinder Limited reported its financial results for the quarter and nine months ended December 2021. Under its key performance highlights remains its revenue and PAT growth at 88% and 143% yoy.

The company reported consolidated revenue of Rs463.90 crore for the quarter ended December 2021 and has registered a growth of 87.80% yoy over the same quarter last year. Standalone revenue reported at Rs348.10 crore for Q3FY22, up by 73.8% yoy.

Consolidated EBITDA grew by 95.90% yoy at Rs97.30 crore for Q3FY22. While standalone EBITDA reported a growth of 66.10% yoy at Rs79.70 crore for the quarter under review. EBITDA margin zoomed to 21% in Q3 despite raw material and other cost escalations.

Consolidated PAT jumped 17.7% yoy in the quarter ended December 2021 at Rs60.10 crore, and standalone PAT grew significantly by 60.7% at Rs49.30 crore. Its PBT for the quarter under review grew by a whopping 143.20% yoy during the quarter under review, and standalone PBT logged growth of 86.7% at Rs73.90 crore.

PAT Margins continue to expand on the back of volume growth and operating leverage.

Everest Kanto was currently trading at Rs233.65, up by Rs11.01 or 4.99%, against its previous closing price of Rs222.55 on NSE. Its stock surged soon after the quarter three results were out touching day’s high of Rs233.65.