Will Damanis’ 2nd biggest holding deliver healthy Q4 numbers today?

NEW DELHI: India Cements, where seasoned investor Radhakishan Damani and his brother Gopikishan held over 21 per cent stake as of last available shareholding data, is set to announce its March quarter results later on Monday.

Analysts largely expect the N Srinivasan-led cement maker to report profit in the Rs 40-75 crore range on double-digit sales growth. Analysts said higher demand in southern markets would aid volume growth, while cost-saving measures and strong YoY realisations should drive operating performance.

See also  Andy Jassy to net $214m in Amazon stock on taking over from Jeff Bezos

Anand Rathi expects the company to report Rs 73.2 crore profit, up 18 per cent sequentially. The cement maker had reported Rs 111 crore loss for the year-ago quarter. Sales are projected to rise 25.4 per cent YoY to Rs 1,444 crore, up 24.5 per cent sequentially. Operating profit margin is seen at 16.4 per cent.

The brokerage expects the company to report 8 per cent volumes growth at 2.86 million tonnes against 2.65 million tonnes a year-ago. Realisations are seen improving 16.1 per cent to Rs 5,051 per tonne from Rs 4,352 per tonne YoY. Ebitda per tonne is seen spiking 225 per cent to Rs 828 per tonne from Rs 255 per tonne.

Reliance Securities pegs profit figure at Rs 75.10 crore, up 21 per cent sequentially. It projects Ebitda to rise 244 per cent YoY to Rs 232 crore and sales to grow 16.5 per cent YoY to Rs 1,342 crore.

Damani brothers held 21.14 per cent stake in the cement maker as of March 31, which was worth Rs 1,328 crore as of Friday’s close.

See also  UK's Johnson calls on G7 to vaccinate world by end of 2022

Motilal Oswal Securities, meanwhile, has some muted expectations. It sees profit at Rs 59.50 crore on a 13 per cent sales growth of Rs 1,301 crore. This brokerage expects March quarter volumes rising mere 1 per cent at 2.68 million tonnes while expecting a flat realisations at Rs 4,849 per tonne. Blended Ebitda per tonne is seen at Rs 776, the brokerage said.

See also  Not Just TRIPS Waiver, But Transfer of Know-How Also Required

“We estimate India Cements volumes to rise 25 per cent QoQ (up 11 per cent YoY). We also estimate realisations to dip 2 per cent QoQ (up 10 per cent YoY). With increase in fuel cost, estimated Ebitda per tonne will dip 28 per cent QoQ. However, due to the low base, the Ebitda per tonne t will be up 2.5 times YoY,” said Edelweiss Securities.

Source link


Europe’s social peace requires a return to fiscal discipline

The author is president of the Bundestag and a former German finance minister“In the long run we are all dead,” wrote John Maynard...

Amazon warehouse workers in New York file for unionization push, months after failed effort in Alabama

A former Amazon worker at the Staten Island facility filed a petition with the National Labor Relations Board to hold a unionization vote.Source...

WTF is The Fediverse? | Hacker Noon

Instead of using centralized and advertising-algorithm driven social media services that not only consume your private details, but also has affected the outcome...

In which countries should I travel to spend my bitcoins?

If bitcoin is an investment that is attracting more and more get-rich-quick candidates, as well as a potential safe haven in these times of...