Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Ambuja Cements Ltd announces Q3 CY2019 results

Posted On: 2019-10-19 00:08:19


Strong profit growth in July-September 2019 quarter

- Net Profit After Tax (PAT) up by 31%
- EBITDA higher by 23%
- EBITDA Margin at 17.2%; up by 300 bps

"In the backdrop of general slowdown in economy and subdued construction activity, Ambuja has delivered yet another quarter of good EBITDA and PAT growth despite lower volumes. This has been possible with a clear focus on product mix enrichment and reduction in logistics costs. Premium products registered a growth of 17% year on year and the company maintained its progress on fossil fuel substitution with alternative fuels and renewable energy. With these efforts, I am happy to announce that Ambuja Cement is now ranked 4th in the global Dow Jones Sustainability Index rankings, emphasizing our strong focus on sustainability.

I am also happy to report significant progress at our greenfield project site in Marwar Mundwa." said Bimlendra Jha, Managing Director and CEO.

Financial Performance

Net Sales stood at Rs. 2,556 crore compared Rs. 2,522 crore in the corresponding quarter of the previous year. Cement realisation registered a growth of ~5% year on year. Freight & forwarding costs saw reduction year on year on account of network optimization, contract re-negotiation and logistics efficiencies.

For the quarter operating EBITDA stood at Rs. 440 crore against Rs. 358 crore in the corresponding quarter of the previous year.

Highlights for Consolidated results July to September 2019 (versus July to September 2018)

- Net Profit After Tax (PAT} up by 34%
- EBITDA higher by 24%
- EBITDA Margin at 16.8%; up by 310 bps

Performance of Material Subsidiary - ACC Limited

Net Sales during the quarter went up by 3% to Rs. 3464 crore compared to Rs. 3,364 crore for the same quarter last year. Operating EBITDA for the quarter grew strongly by 26% year on year to reach Rs. 557 crore.

Outlook

Recent reforms announced by the Government, i.e. sharp cut in corporate tax, aggressive divestment plan coupled with the Reserve Bank of India's latest interest rate cuts, ought to augur well for the economy. These measures should support growth and hence boost cement demand. Healthy monsoon bodes well for rural housing demand which is a key segment for cement. The above factors along with higher spends in infrastructure and affordable housing are also expected to favor demand.

Shares of AMBUJA CEMENTS LTD. was last trading in BSE at Rs.207 as compared to the previous close of Rs. 206.8. The total number of shares traded during the day was 151220 in over 1569 trades.

The stock hit an intraday high of Rs. 209.8 and intraday low of 206.35. The net turnover during the day was Rs. 31396329.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Apollo Tyres aims for leadership in premium two-wheeler segment in India

Jaysynth Dyestuff India Ltd Board recommends Dividend of Rs. 0.15 for FY20

Jio Platforms receives over Rs. 1.5 lakh crore investment in 3 months

World Youth Skills Day: TCS iON Launches Youth Employability and Entrepreneurship Programme

ICICI Securities Primary Dealership Ltd Q1FY21 net profit surges to Rs. 345.08 crore

Federal Bank Ltd Q1FY21 consolidated PAT higher at Rs. 409.50 crore

Google to invest Rs. 33,737 crore in Jio Platforms Ltd

Indian Metals & Ferro Alloys Ltd postpones board meeting to July 27, 2020

Trigyn awarded - National Cooperative Purchasing Alliance (NCPA) - IT Services Contract

IFGL Refractories Ltd board to consider Q4FY20, FY2020 results, final dividend on July 18, 2020

Bandhan Bank Ltd reports Q1FY21 net profit of Rs. 549.81 crore

TCS Now Second Largest Among UK Software and IT Services Companies

Zydus Cadila receives final approval from USFDA for Betamethasone Dipropionate Ointment

Tata Consumer Products Ltd board to approve Q1FY21 results on Aug 4, 2020

Maruti Suzuki to proactively recall 134,885 units of WagonR and Baleno

NELCO Ltd board to approve quarterly results on July 31, 2020

Sonata Software Ltd board to announce 1st quarter results on Aug 10, 2020

Steel Strips Wheels Ltd bags news orders for mobile home market from USA

Havells India Ltd board to consider Q1FY21 results on July 27, 2020

Zydus starts the Human Dosing for Adaptive Phase I & II clinical trials

Chinese firm announces open offer to acquire shares of Thirdwave Financial Intermediaries Limited

Majesco Enables United Educators Digital Transformation Journey

Aarti Surfactants Ltd FY20 PAT at Rs. 2.09 crore

ICRA Limited Board approves audited financial results for Q4, FY2020

Oriental Hotels Ltd board to approve first quarter results on July 28, 2020

Indiamart Intermesh Ltd board to announce quarterly results on July 21, 2020

Bharti Infratel Ltd board to consider 1st quarter results on July 27, 2020

Monnet Ispat & Energy Ltd board to approve Q1FY21 results on July 21, 2020

ICRA Ltd Board approves Dividend of Rs. 27 for FY20

Vanguard and Infosys announce strategic partnership

India Ratings Downgrades HEG to 'IND AA-'/Stable

Prestige Estates subsidiary acquires equity stake in DB (BKC) Realtors Private Limited

Gujarat Hotels Ltd posts Rs. 0.87 crore PAT in Q1FY21

Oberoi Realty Ltd Q1FY21 consolidated PAT slides to Rs. 28.07 crore

YES Bank approves allocation of 3,415,384,614 Equity Shares to anchor investors

National Peroxide Ltd Board approves dividend of Rs. 12.50

Oberoi Realty Ltd board approves fund raising proposals

Suzlon Energy Limited allots 51,19,92,560 shares

CreditAccess Grameen Limited board to consider terms of NCD issue on July 17, 2020

IDFC First Bank Ltd board to announce Q1FY21 results on July 28, 2020

Oberoi Realty Ltd Q4FY20 consolidated PAT climbs to Rs. 250.96 crore

National Peroxide Ltd Q4FY20 net profit at Rs. 3.03 crore

AAI, BEL sign MoU for co-operation in Civil Aviation industry

Godrej Properties Ltd board to announce Q1FY21 results on Aug 5, 2020

Hero MotoCorp announced as the Title Partner of Hero Open

Opto Circuits India Ltd sinks to FY2020 loss of Rs. 1367.86 crore

Emami group completes stake sale in Emami Cement

ICICI Securities Ltd board to approve 1st quarter results on July 22, 2020

Chambal Fertilisers & Chemicals Ltd board to announce Q1FY21 results on July 29, 2020

Salasar Techno Engineering Ltd updates on tower supply agreement







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019