Somany Ceramics in its Q3FY21 earnings reported revenue growth of 12.8 percent on a year-on-year (YoY) basis led by improvement in margins. Abhishek Somany, Managing Director of the company said that they will maintain margins on the back of better volumes in Q4.

“Q4 also the order book is very good. It started off well in January and also in February. There has been a little bit of a shock on the gas prices. It has gone up a little bit starting February and we believe that a little bit of that we should be able to pass on if not whole. But even otherwise, I think the margins will be maintained or probably better because the volumes will be better in Q4,” Somany said in an interview with CNBC-TV18.

On debt position, he said, “The net debt is Rs 250 crore, but from a standalone point of view we are a debt-free company. The debt which you see is the bill discounting which shows up where we do a lot of bills discounting from vendors where we buy material from – our joint venture companies to be precise. There is approximately another Rs 100 crore of debt from the various joint venture companies which is no corporate guarantee or anything of that sort from Somany Ceramics. So it is standing on their books. The standalone basis we are very comfortable.”

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(Edited by : Ajay Vaishnav)