ECONOMY

Ambuja Cement Q2 Review – Strong Quarter, Fair Valuation: Dolat Capital

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Ambuja Cement Ltd. reported results above estimates on all fronts.

The company posted 54.9% y-o-y growth in revenue to Rs 33.7 billion led by 51.1% y-o-y volume growth to 6.3 million tonnes and up 2.5% y-o-y (up 5.4% q-o-q) realisation growth to Rs 5,326/tonne.

Ambuja Cement’s Ebitda increased by 61.2% y-o-y to Rs 9.6 billion and adjusted profit after tax increased by 59.5% y-o-y to Rs 7.2 billion.

We expect 13.6%/ 18.7%/ 18.9% revenue/ Ebitda/ adjusted profit after tax compound annual growth rate over CY20-22E led by 15.8%/ 6.6% volume growth and 3.5%/ 1.0% cement realisation growth in CY21E/ CY22E.

We increase our revenue and Ebitda estimates by 4.6%/ 3.8% and 10.3%/ 9.4% for CY21E/ CY22E factoring H1 CY21 results.

Click on the attachment to read the full report:

Dolat Capital Ambuja Cement Q2CY21 Result Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Most Related Links :
editorpen Governmental News Finance News

Source link

Back to top button