North India-based Vardhman Special Steels’ sales volume in FY2020 dropped by 15.14pc to 1,61,676 mt from a year ago on account of continued slow down and weak demand from the automotive industry.
In Q4 FY2020, the company’s sales volume fell by 4pc to 35,715mt from the prior year quarter. Revenue from operations decreased by 24.5pc to 846.2 crore from the prior year due to decline in sales volume and sales prices.
For the full year, Vardhman’s profit after tax (PAT) fell by 85pc to 3.34 crore in FY2020 from the prior year due to decline in sales prices and increase in cost to build inventory for the planned shutdown of the steel melting shop in Q2.
|Key Highlights (Rs Crore)||Q4 FY2020||Q4 FY2019||Y-o-Y||FY2020||FY2019||Y-o-Y|
|Sales Volume (mt)||35,715||34,363||3.93%||1,37,192||1,61,676||-15.14%|
|Revenue from Operations*||205.66||243.25||-15.45%||846.2||1120.76||-24.50%|
*includes sales of traded goods, billets and raw material.
**including other income