ECONOMY

Visaka Industries – Healthy Demand Outlook: Anand Rathi

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Despite some operating regions locked down, Visaka Industries Ltd.’s building products division’s revenue grew 17.5% YoY, at 105% capacity (asbestos cement sheets ~113%, boards ~ 74%).

With 60% revenue from its schools business, the yarn division’s revenue slid 45% QoQ, but YoY grew 123% on the low base.

On price hikes and the yarn division’s greater contribution, Ebitda rose 11% YoY to Rs 649 million.

To capture new markets in the rural North East, Bihar, etc., Visaka Industries is expanding AC-roofing-sheet capacity by 100,000 tons at Lucknow.

The AC roofing division is expected to grow in high single digits in the next five years, and the boards division 20-25% due to the upswing in demand.

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Anand Rathi Visaka Industries Company Update.pdf

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