News: Vesuvius India reported decent Q2CY24 results. The revenues grew by 14.1% YoY and 2% QoQ at Rs 463 crore. EBIDTA margins expanded 300 bps YoY at 20% but same declined by 100 bps QoQ. Consequently PAT came in at Rs 67 crore up 28.9% YoY but flat QoQ. The company has Rs 423 crore as of H1CY24.
Views: With strong capacity expansion underway as CWIP as of H1CY24 stood at Rs 123 crore, we believe Vesuvius will aggressively launch new products in the traditional segment and products which will be import substitute. This we belive will drive sustainable growth in the medium to long term.
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