Kalyani Steels gains on recording Q4 PAT of Rs 76 cr

Kalyani Steels rose 3.49% to Rs 385.75 after the company's consolidated net profit surged to Rs 75.68 crore in Q4 FY21, steeply higher than Rs 22.66 crore in Q4 FY20.

Revenue from operations increased 39% year-on-year (YoY) to Rs 377.23 crore during the quarter.

The company recorded a profit before tax (PBT) of Rs 101.71 crore in Q4 FY21, steeply higher than the PBT of Rs 31.12 crore in Q4 FY20.

The company reported 39.3% rise in consolidated net profit to Rs 190.28 crore on 0.9% decline in revenue from operations to Rs 1,188 crore in the year ended 31 March 2021 over the year ended 31 March 2020. Total expense declined 7.7% to Rs 976.12 crore in FY21 over FY20.

The company's board has recommended dividend of Rs 7.50 per equity share for the Financial Year 2020-21.

Kalyani Steels is a leading manufacturer of forging and engineering quality carbon & alloy steels using the Blast Furnace route. It is a preferred supplier of forging quality steel for a variety of automotive applications.

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