2024-10-30 10:55:33 :
Somani Ceramics’ second quarter results live broadcast: Somani Ceramics announced its second quarter results on October 29, 2024, revealing mixed results for the quarter. The company’s revenue increased slightly by 1.7% year-on-year, in sharp contrast to the 41.45% profit decline in the same period last year.
Compared with the previous quarter, Somani Ceramics’ revenue increased strongly by 15.17%, and its profit increased significantly by 39.74%. That points to a temporary rebound after a challenging year.
However, the company is facing rising costs. Selling, general and administrative expenses increased by 2.71% month-on-month and 8.39% year-on-year, putting further pressure on profitability.
The trend of operating income was mixed, with a month-on-month increase of 23.67% but a year-on-year decrease of 20.77%, indicating that maintaining operational efficiency amid fluctuating demand still faces challenges.
Second quarter earnings per share (EPS) were $4.18, a year-over-year decrease of 39.33%, which may worry investors looking for growth indicators.
Investors have been cautious as Somani Ceramics returned -4.17% last week and 3.54% over the past six months. Year-to-date returns have been disappointing at -8.92%. Somani Ceramics’ current market capitalization is $2678.56 Cr, 52-week high $872.6 and minimum $561.2.
Market sentiment seems cautiously optimistic, with 17 analysts covering the company. Among them, 1 analysts rate it a Hold, 4 rate it a Buy, and 12 recommend a Strong Buy, indicating that the consensus recommendation as of October 30, 2024 is a Strong Buy.
Somani Ceramics Financials
| period | Q2 | Q1 | month-on-month growth | Q2 | year-on-year growth |
|---|---|---|---|---|---|
| total revenue | 666.33 | 578.58 | +15.17% | 655.16 | +1.7% |
| Total Selling/General/Administrative Expenses | 89.12 | 86.77 | +2.71% | 82.22 | +8.39% |
| Depreciation/Amortization | 19.16 | 19.17 | -0.05% | 17.62 | +8.74% |
| total operating expenses | 629.49 | 548.79 | +14.71% | 608.66 | +3.42% |
| operating income | 36.84 | 29.79 | +23.67% | 46.5 | -20.77% |
| net income before tax | 24.68 | 18.38 | +34.28% | 39.36 | -37.3% |
| net income | 17.16 | 12.28 | +39.74% | 29.31 | -41.45% |
| Diluted normalized earnings per share | 4.18 | 2.99 | +39.8% | 6.89 | -39.33% |
Follow us On Social Media Twitter/X