BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Anand Rathi Report
On its Q1 FY21 sales volumes dropping 32% YoY, Heidelberg Cement India Ltd.’s revenue/ Ebitda/profit after tax fell 30%/29%/38% YoY.
Ebitda/tonne rose 4% YoY to Rs 1,247, however, on firm realisations and cost optimisation. The net debt-free balance sheet continues.
The higher volume dumping from neighbouring states (Rajasthan/East) will continue to keep prices in check. The company continues to operate with negative working capital.On June 30, 2020, it had a net cash balance of Rs 1.6 billion. Management said it would look at greenfield expansions.
Regulatory hiccups (maximum promoter shareholding and mine transfer) have postponed the Zuari merger.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.