Review of ambujacement Q2 – Expansion to improve short-term volumes: Motilal Oswal


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A special research section of BQ Blue brings together quality and fundamental research reports on capital and economics from all major Indian brokerage houses, asset managers and research agencies. These reports offer BloombergQuint subscribers the opportunity to broaden their understanding of companies, sectors and the economy.

Results Q2 CY21 of Ambuja Cement Ltd. point out that the company continues to focus on reducing costs, leading to the largest ever Ebitde / ton of Rs 1,495 / ton.

Quantities increased by 53% on an annual basis, to 6.42 million tons (estimated – 5.93 million tons) due to a lower base.

The amount of special products of Ambuja cement increased by 69% year on year.

Sales of cement increased by 5.3% compared to the previous quarter (by 1.7% year on year) to 5,206 Rs / ton compared to our estimate of 5,163 Rs / ton; combined sales increased by 5% compared to the quarter to 5,251 Rs / ton (an increase of 1% compared to the same period last year).

The commissioning of Marwar-Mundwa capacity by September 2021 should trigger a 12% compound annual growth rate in quantities above CY20–23E.

Click the attachment to read the complete report:

Motilal Oswal Ambuja cement C2CY21 Update result.pdf

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