You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Nuvoco Vistas spurts after turnaround Q1 result

Capital Market 

Nuvoco Vistas Corporation gained 1.07% to Rs 573 after the cement maker posted a consolidated net profit of Rs 114.28 crore in Q1 FY22 as against net loss of Rs 91.38 crore registered in Q1 FY21.

On a consolidated basis, revenue from operations jumped 162% to Rs 2,202.97 crore in Q1 FY22 over Q1 FY21. Profit before tax stood at Rs 157.45 crore in Q1 FY22 compared with pre tax loss of Rs 142.65 crore in Q1 FY21.

EBITDA soared 126% to Rs 520 crore in Q1 FY22 as against Rs 230 crore in the same period last year. EBITDA margin improved to 23.6% in Q1 FY22 as against 16.6% in Q1 FY21.

Commenting on the results, Jayakumar Krishnaswamy, MD of Nuvoco Vistas said, "In spite of the countrywide lockdown, the Company achieved exceptional volume growth in the quarter ended June 30, 2021. With a thrust on innovation and premium products, leveraging synergy benefits between Nuvoco and NU Vista, as well as a strong focus on cost efficiencies contributed to an overall improvement in the consolidated EBITDA margin of 24%."

The company said that consolidated figures are not comparable on a year-on-year basis as the acquisition of NU Vista took place on 14 July 2020.

Nuvoco Vistas Corporation (NVC) is engaged in the business of manufacturing and sale of Cement and Ready Mix (RMX) along with trading and manufacturing of aggregates. The company caters mainly to the domestic market.

Shares of Nuvoco Vistas entered stock exchanges on 23 August 2021. The scrip was listed at Rs 471 per share, at a discount of 17.36% to the initial public offer (IPO) price of Rs 570 per share. The IPO of Nuvoco Vistas Corporation received bids for 10.70 crore shares as against 6.25 crore shares on offer, according to stock exchange data. The issue was subscribed 1.71 times. The issue opened for bidding on 9 August 2021 and closed on 11 August 2021.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, September 07 2021. 09:49 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU