Net sales increased by 18% YoY to Rs 365.81 crore during the quarter.

Total expenditure rose by 12.4% to Rs 312.89 crore in the first quarter as compared with the same period last year, due to higher raw material costs (up 13.5% YoY), higher employee expenses (up 15.8% YoY) and higher other expenses (up 12.2% YoY). Depriciation charge increased by 9.2% YoY to Rs 7.61 crore.

Profit before tax in in Q1 March 2023 stood at Rs 58.10 crore, up 83.3% from Rs 31.70 crore in Q1 March 2022.

Vesuvius India is engaged in the business of manufacturing, trading and sale of a range of refractories. At present the company has four factories one each at Kolkata, Mehsana and two at Visakhapatnam and one manufacturing arrangement at Salem. The Kolkata factory manufactures continuous casting refractories including slide gate equipments and porous plugs, the Visakhapatnam factories manufacture monolithics , pre-cast shapes and taphole clay and the Mehsana factory manufactures crucibles for non-ferrous industry. The manufacturing arrangement at Salem supplies basic monolithics for tundish application.

The scrip has also hit its all-time high at Rs 2,267.25 in trade today.