Ambuja Cements Q1 Review - Better Result Priced-In: IDBI Capital
A construction worker holds a trowel of cement as he lays bricks (Photographer: Simon Dawson/Bloomberg)

Ambuja Cements Q1 Review - Better Result Priced-In: IDBI Capital

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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.

IDBI Capital Report

Ambuja Cements Ltd. Q1 CY21 Ebitda came in 13% higher than our estimate.

Ebitda/tonne expanded to Rs 1,362/tonne and it was supported by lower costs and operating leverage benefit from the volume growth.

Overall, the cost saving is better than our estimate, as freight/tonne was lower QoQ (benefit from master supply agreement, Paravt initiatives), employee cost is lower on QoQ and YoY basis.

We have factored better than estimated result in CY21 and CY22 and increase the Ebitda by 5% per annum.

Click on the attachment to read the full report:

IDBI Capital Ambuja Cement Q1CY21 Result Review.pdf

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