BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
We estimate our coverage universe to post 24%/31%/52% YoY growth in revenue/Ebitda/profit after tax, led by strong volumes (73 million tonne, up 22% YoY) on a low base.
While pan-India average cement price in Q4 FY21 was flat QoQ, it is still up 3% YoY, led by price hikes across regions in March.
We estimate our coverage realization to rise by 2% YoY (flat QoQ) to Rs 4,950/tonne.
On a YoY basis, operating leverage benefit (from higher volumes), coupled with higher realization, should offset the rise in fuel costs resulting in 7% YoY increase in estimated Ebitda per ton to Rs 1,156/tonne.
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