Strong Performance despite Dismal Volume
Shree Cement (SRCM) has reported a stellar operating performance in 1QFY20 with EBITDA surging by a sharp 57% YoY to Rs9bn (vs..
Miss on all counts; Maintain Reduce
Shree cement (SRCM) reported EBITDA below ours/consensus estimates by 9%/11%. EBITDA/t fell short of our estimate by ~7% at Rs1,44..
On a recovery path
We upgrade JK Lakshmi (JKLC) to BUY (from Neutral earlier), with SOTP based TP of Rs 381 (Standalone at 8x FY21 EBITDA, its 71% holding in Udaipur C..
Sharp volume decline
We retain NEUTRAL rating on Shree Cement (SRCM) with SoTP based TP of Rs 19,200 (Cement/power businesses at 15/5x FY21E EBITDA, and UAE subsidiar..
Capacity overhang in key operating regions to pressurize prices, Downgrade to Neutral
* Reprises industry trend of lower volumes, higher realizations: Volumes includi..
Healthy Performance on Firm Realisation; Maintain HOLD
India Cements (ICEM) has reported a healthy operating performance in 1QFY20 with EBITDA growing by 55% YoY and 2..
Robust Performance despite Volume Miss
UltraTech Cement (UTCEM) has reported a better-than-expected operating performance in 1QFY20 despite miss on volume front. EBITD..
Cement prices moderated in August, according to a report by brokerage house Emkay. “Our channel checks indicate that cement prices declined further in August 20..
EBITDA/te crosses Rs1,400/te; upgrades to continue
UltraTech Cement (UTCEM)’s Q1FY20 standalone EBITDA (pre-Ind-AS 116 impact) increased 55% YoY to Rs25.2bn, bro..
In 1QFY20, despite weak demand, UltraTech (UTCEM) reported historic high margins, on windfall pricing and benign op cost benefits. We reiterate BUY..
Prices Remained Resilient despite Weak Demand
* Cement prices continued to remain resilient in Aug’19, as all- India average price declined marginally by ~R..
ULTRA strong show; Remains top pick in the sector
Ultratech Cement (UTCEM) reported 5% miss on our EBITDA (higher by Rs339mn due to adoption of AS116 related to operat..
Accelya Solutions In Q4 net profit up 32.35% at Rs 24.71 cr
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