Views on Shree Cement 2QFY2014 results - Angel Broking

Mr. V. Srinivasan (Research Analyst - Cement, Angel Broking) on Shree Cement 2QFY2014 results:

"For 2QFY2014 Shree Cements' results were below estimates. The company posted a 7.7% yoy decline in top-line to Rs. 1,318cr. Cement division posted a top-line growth of 8.4% yoy to Rs. 1,180cr despite the steep fall in realizations aided by higher volumes (up 18% yoy). Power division posted a 56% yoy decline in net revenue impacted by fall in both volumes (down 30% yoy) and realization (down 13% yoy). OPM fell by 537bp yoy to 20.5% impacted by steep fall in cement realizations. Bottom-line fell by 47% yoy to Rs. 120cr. We maintain a neutral rating on the stock."

Source : Equity Bulls

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