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.
ICICI Direct Report
Ramco Cements Ltd.’s Q4 FY21 numbers were in line with our estimates at the operational level.
Sales volume increased 9.5% YoY to 3.21 million tonne, up 23% QoQ due to healthy demand in the east region and pick-up in infra demand from south region.
Realisations also improved 6.8% YoY. However, it was down 1.3% QoQ due to a rise in non-trade mix.
This led to revenue growth of 17% YoY, 21.3% QoQ to Rs 1,631 crore (versus our estimate: Rs 1,625 crore).
Capacity utilisation for the quarter was at 69% versus 56% while clinker utilisation was at 92% versus 93% last year.
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