Views on India Cement 4QFY2015 Results - Angel Broking

Views of Mr. Shrenik Gujrathi (Sr. Research Analyst - Cement, Angel Broking) on India Cement 4QFY2015 Results:

In 4QFY2015, India Cement profitability improved on account of higher realization. The revenue declined by 5.1% on yoy basis to INR 1,025cr. Sales volume during the quarter decline by 21% yoy basis to 2.09mt. Volume declined due to weak demand in its key market of south region. However realization per tonne at INR 4,761 per tonne were higher by 18.6% yoy. However, lower than expected power, fuel and freight costs improved the EBITDA margin to 17.8% an increase of 1090bp yoy and was above our estimate. EBITDA per tonne came in at INR 870 per tonne. The bottom-line reported a profit of INR 36.6cr as against loss of INR 30.6cr during same quarter last year. We maintain BUY rating on the stock with target price of INR 146.

Shares of INDIA CEMENTS LTD. was last trading in BSE at Rs.82.2 as compared to the previous close of Rs. 82.4. The total number of shares traded during the day was 172945 in over 1314 trades.

The stock hit an intraday high of Rs. 83.6 and intraday low of 81.3. The net turnover during the day was Rs. 14284378.

Source : Equity Bulls

Keywords