Cement Sector Q1 Earnings Review - Robust Revenue Growth: Dolat Capital

Cement Sector Q1 Earnings Review - Robust Revenue Growth: Dolat Capital

A cart with wet cement. (Photographer: Jeremy Erickson/Bloomberg)

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Dolat Capital Report

Our coverage universe of 12 cement stocks reported revenue of Rs 324.3 bn in Q1 FY22, a growth of 49.4% YoY (down 15.1% QoQ) led by blended volume growth of 44.3% YoY (down 19.1% QoQ) to 61.0 million tonne coupled with increase in blended realisation by 3.6% YoY (up 5.0% QoQ) to Rs 5,315/ tonne (highest ever).

Ebitda increased 51.3% YoY (down 9.3% QoQ) to Rs 85.1 billion and blended Ebitda/ tonne increased 4.9% YoY (up 12.1% QoQ) to Rs 1,395 (highest ever) led by blended realisation growth of 3.6% YoY (up 5.0% QoQ) to Rs 5,315/tonne which was partially offset by rise in blended cost/tonne by 3.1% YoY (up 2.6% QoQ) to Rs 3,920/ tonne.

Click on the attachment to read the full report:

Dolat Capital Cement - Q1FY22 Results Review.pdf
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