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 report a 11%/ 42%/ 80% YoY growth in Revenue/ Ebitda/ profit after tax due to higher cement prices and strong volumes (up 7% YoY, up 15% QoQ).
While realization is expected to grow 4.5% YoY (down 1% QoQ) to Rs 4,974/tonne, Ebitda per ton is estimated to rise 33% YoY to Rs 1,225/tonne (down 1% QoQ) supported by 2% YoY fall in cost to Rs 3,750/tonne.
Cement industry volumes have continued to recover, led by rural housing and a pickup in government spending (particularly in East and North).
Pan India average cement price has been up 7% YoY (flat QoQ) in Q3 FY21, despite softening prices across regions in Dec-20.
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