Vesuvius India (VIL) reported revenues at Rs 352.8 crore, up 31.9% YoY aided by better demand in steel, cement. EBITDA came in at Rs 50 crore, up 80.4% YoY. EBITDA margins expanded 381 bps YoY to 14.2% and 173 bps QoQ. Gross margins marginally contracted by 60 bps to ~40.1% YoY. VIL reported PAT at Rs 36.1 crore, up 86% YoY, improving due to a good operational performance
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Overall, VIL’s revenue saw strong growth led by better demands in sectors like steel, cement, which consume more than 80% of refractories products. Going forward, VIL is well placed to capture domestic market share through focus on localised manufacturing and new product launches driving faster growth. Additionally, Higher steel production and technological advancement is expected to further drive refractories demand
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