Views on Orient Cement 2QFY2016 Results: Angel Broking

Views of Mr. Shrenik Gujrathi (Sr. Research Analyst - Cement, Angel Broking) on Orient Cement 2QFY2016 Results:

"Orient Cement 2QFY2016 reported disappointing set of numbers. The company's EBITDA declined sharply by 52.9% yoy to INR 36.4cr and was also below our estimate of INR 54.3cr. EBITDA margin dipped to 10.2% down 980bp yoy mainly due to steep increase in other expenses. Its top-line de-grew 7.6% yoy to INR 355cr but was above our estimate of INR 321.3cr, mainly on back of better than expected realization number. The bottom-line declined by 35.4% yoy to INR 28cr and was as per our estimate of INR 26.5cr. The PAT margin came in at 7.9%, down 340bps yoy. We maintain a NEUTRAL rating on the stock."

Shares of Orient Cement Ltd was last trading in BSE at Rs.172.85 as compared to the previous close of Rs. 173.55. The total number of shares traded during the day was 11325 in over 224 trades.

The stock hit an intraday high of Rs. 174.55 and intraday low of 167.55. The net turnover during the day was Rs. 1924425.

Source : Equity Bulls

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