I am holding shares of Mangalam Cements and Siyaram Silk Mills and want to know about the quality of results in the latest quarter?

Let me talk about Mangalam Cements first. For Q4FY22, it reported 9.8% growth in sales revenues at Rs451.62 crore; and higher sequentially also. FY22 sales were up 20% yoy. However, the net profits for Q4FY22 fell sharply by -50.57% to Rs17.48 crore. This fall in Q4FY22 net profits was on account of spike in power and fuel costs. This was inevitable amidst rising coal prices and steeply higher diesel costs. Ukraine war has disrupted supply chains. Net margins stood at 3.87% in Q4FY22 quarter compared to 8.60% in Q4FY21.

Let me now turn to Siyaram Silk Mills. Sales were up 23.77% in Q4FY22 at Rs628.26 crore. FY22 sales for full year were higher 75% at Rs1,905 crore. While dividends were declared at Rs3.20 per share, the net cash from operations for FY22 fell 87% yoy due to spurt in inventory costs and trade receivables. Net profits were still up 42.1% at Rs82.17 crore for Q4FY22. The labour costs went up sharply but this was offset by inventory efficiency gains. Finance costs also fell. Net margins at 13.08% in Q4FY22 compared to 11.39% in Q4FY21.