Visit http://indiaer.blogspot.com/ for complete details Shree Cements (Rating – Hold; Target Price – Rs2,075)
We expect Q2FY11 sales to decline 22.3% YoY to Rs6, 993mn and EBIDTA to decline 63.0% YoY
to Rs1, 510mn, while the company is likely to report a PAT loss of Rs109mn as against profit of
Rs 2915mn in Q2FY10.
Sales are expected to be driven by the 10% YoY volume de-growth to 2.23mt, 13% YoY decline
in realization to Rs3,000/tonne and Rs301mn revenue from power sales.
Margins are likely to contract 23pps YoY and 9pps QoQ to 21.6%.
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