Ambuja Cements – 3QCY2010
We expect Ambuja Cements to report a 3.5% yoy decline in top line to `1,585cr on
account of a drop in realizations; however, the company’s despatches remained flat at
4.28mn tonnes. The OPM is expected to decline by 217bp yoy to 26.0%. Net profit is
expected to decline by 17.6% yoy to `263cr. We remain Neutral on the stock.
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