Please Share:: 
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Ambuja Cements – 3QCY2011
During 3QCY2011, Ambuja Cements’ net sales increased by 15.4% yoy to
`1,805cr on account of higher realization and growth in dispatches. The
company’s blended realization improved by 7.0% yoy to `3,849/tonne but fell by
5.8% sequentially, in-line with correction seen in the industry. The company’s
cement dispatches for the quarter increased by 7.6% yoy to 4.69mn tonnes. The
company faced margin pressure during the quarter on account of higher rawmaterial
costs, power and fuel costs and freight costs. OPM for the quarter stood at
17.4% and declined by 167bp on a yoy basis on account of higher operating
costs, which overshadowed the increase in realization. But on a sequential basis,
margin declined substantially by 992bp due lower realization and higher input
costs. On the bottom-line front, the company’s net profit stood at `171cr, up
12.7% on a yoy basis. We remain Neutral on the stock.
ACC – 3QCY2011
ACC posted a 31.3% yoy growth in its stand-alone net sales to `2,150cr on
account of 17.8% growth in dispatches and 11.5% higher realization. The
company’s dispatches for the quarter stood at 5.69mn tonnes, up 17.8% yoy, on
account of higher capacity (on a yoy basis) operational at Wadi and Chanda
during the quarter. The realization too was higher by 11.5% yoy at `3,779/tonne.
However, on a sequential basis, realization was down by 6.8%. Despite the
substantial yoy improvement in realization, OPM rose only by a marginal 133bp
and stood at a low 14.2% due to the surge in raw material, freight and power and
fuel costs. The company’s net profit rose by 67.5% yoy to `168cr. We remain
Neutral on the stock.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Ambuja Cements – 3QCY2011
During 3QCY2011, Ambuja Cements’ net sales increased by 15.4% yoy to
`1,805cr on account of higher realization and growth in dispatches. The
company’s blended realization improved by 7.0% yoy to `3,849/tonne but fell by
5.8% sequentially, in-line with correction seen in the industry. The company’s
cement dispatches for the quarter increased by 7.6% yoy to 4.69mn tonnes. The
company faced margin pressure during the quarter on account of higher rawmaterial
costs, power and fuel costs and freight costs. OPM for the quarter stood at
17.4% and declined by 167bp on a yoy basis on account of higher operating
costs, which overshadowed the increase in realization. But on a sequential basis,
margin declined substantially by 992bp due lower realization and higher input
costs. On the bottom-line front, the company’s net profit stood at `171cr, up
12.7% on a yoy basis. We remain Neutral on the stock.
ACC – 3QCY2011
ACC posted a 31.3% yoy growth in its stand-alone net sales to `2,150cr on
account of 17.8% growth in dispatches and 11.5% higher realization. The
company’s dispatches for the quarter stood at 5.69mn tonnes, up 17.8% yoy, on
account of higher capacity (on a yoy basis) operational at Wadi and Chanda
during the quarter. The realization too was higher by 11.5% yoy at `3,779/tonne.
However, on a sequential basis, realization was down by 6.8%. Despite the
substantial yoy improvement in realization, OPM rose only by a marginal 133bp
and stood at a low 14.2% due to the surge in raw material, freight and power and
fuel costs. The company’s net profit rose by 67.5% yoy to `168cr. We remain
Neutral on the stock.
No comments:
Post a Comment