Leading tiles and sanitaryware manufacturer Somany Ceramics Limited has posted stout earnings for the quarter ended March 2017. Profit Before Tax (PBT) rose by 15.2% to Rs 43 crore during the quarter as compared to Rs 38 crore in corresponding period of last fiscal, while Profit After Tax (PAT) stood at Rs 25 crore during the quarter after providing for exceptional item of about Rs 4 crore.
Commenting on the performance of Q4, managing director Abhishek Somany said, “This year was a year of strategic accomplishment for Somany Ceramics. Our continued efforts in investing in brand and marketing initiatives besides focusing on improving product mix led to a good performance this quarter, and helped us achieve above average industry performance this fiscal year.” He added that the categorical network expansion undertaken by the company also played an integral part in the growth strategy.
Somany added, “We have recently tripled our sanitaryware production capacity from 3.03 lakh units to 11.50 units per annum, and within a year we want to establish our bathroom fittings production plant in India. We are confident that going forward, the continuous hard work will only propel our growth further.”
The company’s gross sales stood at Rs 580 crore up by 8.9% in Q4’17 and Rs 1,910 crore up by 6.7% in FY17. The PBT and PAT for FY17 stood at Rs 137 crore up by 44.2%, and Rs 86 crore respectively.