Views on Ambuja Cement 2QCY2015 Results: Angel Broking

Views of Mr. Shrenik Gujrathi (Sr. Research Analyst - Cement, Angel Broking) on Ambuja Cement 2QCY2015 Results:

"For 2QCY2015 Ambuja Cement numbers were in line with our expectation on profitability front. Net sales declined by 7.9% yoy to INR 2492.8cr due to sharp de-growth in sales realization. The realization came in at INR 4239 per tonne a decline of 8.4% yoy was below our estimate of INR 4302 per tonne. Sales volume was flat yoy to 5.88mt above our estimate of 5.7mt. EBITDA during the quarter decreased by 34.7% yoy to INR 383.8cr above our estimate of INR 367.6cr, largely due to better cement sales volume. Hence EBITDA margin at 15.4% was above our estimate of 15.1%. The EBITDA/tonne came in at INR 653 in line our estimate of INR 650/tonne led by operational efficiency. Net profit came in at INR 226.4cr, as per our estimate. We maintain our NEUTRAL rating on the stock."

Shares of AMBUJA CEMENTS LTD. was last trading in BSE at Rs.230.5 as compared to the previous close of Rs. 234.3. The total number of shares traded during the day was 155370 in over 3013 trades.

The stock hit an intraday high of Rs. 237.25 and intraday low of 227.6. The net turnover during the day was Rs. 36129685.

Source : Equity Bulls

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