Ultratech Cement Ltd.|Q2FY15 Result Update | Revenue ahead while PAT numbers in line estimates :: IndiaNivesh

Please Share::

�� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��

��

--> Ultratech reported Q2FY15 PAT numbers in line with our expectation. Revenue
increased by 19.5 YoY to Rs 53.81 bn (ahead of our expectation of Rs 50.36 bn) on
account of 1) 4.9% growth in dispatches (to 10.65 mn tn), and (2) 14% strong growth
in average blended realizations (to Rs 5052/tn). However, EBITDA margin stood at
15.4%, below our expectation of 16.1%, dragged by higher finished goods purchase,
freight outward expenses, fuel and other expenses. Despite higher than expected
revenue, net profit was in line with our estimates of Rs.4.1 bn due to lower than
expected EBITDA margin and higher Interest expenses (jumped by 61% YoY and
43% QoQ to Rs. 1.43) bn. Grey Cement volume grew 4.8% YoY (-10.2% QoQ) at
10.35 mn tn white cement (incl. Putty) volume grew by 9.8% YoY and 17.5% QoQ to
0.30 mn tn. EBITDA/tn increased from Rs 649.6/ tn in Q2FY14 to Rs 778.7/tn in
Q2FY15. During the quarter, Ultratech commissioned 25 MW of Thermal Power
plant (at Tadipatri, AP) and 1.4 mn tn cement mill at Rajashree Cement. Post this
capex, overall cement installed capacity stands 60. 2 mn tn total power capacity
increased to 733 MW (catering to over 80% of company’s power requirements).

LINK

http://www.indianivesh.in/Admin/Upload/635493936690322500_Ultratech_Q2FY15%20Result%20Update.pdf