Investors enjoyed good quarterly results as Vesuvius India Ltd. (VIL) shares climbed 20 percent on May 16 to a 52-week high of Rs 2,267.25.
The company's shares was up Rs 322.45 (17.07 percent) or Rs 2.211.85 at 9:40 a.m. The stock has increased at about 40% year to date along with an incredible 127% from the previous 12 months.
During the March quarter, operating earnings reached Rs 365.1 crore compared to Rs 310.12 crore during the same quarter last year. Net profit increased by Rs 23.63 recorded a year ago to Rs 43.35 crore. The operating margin increased from 10.24% in the March quarter of 2022 to 14.46% in the quarter under review.
As instructed by management, VIL has demonstrated good execution in cost control and squeezing out strong EBITDA margins in the March quarter. With the addition of fresh lines of products, such as monolithics and mould flux powder, as well as the expansion of existing capacity, Monarch Networth Capital stated in an update that the revenue growth possibilities for VIL remain good.
One of the top firms for metal flow engineering is VIL, a division of the Vesuvius Group in the UK. In order to line devices like blast furnaces, ladles and tundishes so that they can survive high temperatures or chemical attack, the company sells high performance refractory materials to the steel industry and other processing sectors. In the Indian refractories market, the company has a stake of about 11%
