Centrum Broking: Heidelberg Cement Q2 Review - Steady Show; Pricing To Drive The Performance
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Centrum Broking Report
Heidelberg Cement India Ltd. Q2 FY21 delivered a steady performance driven by marginal realisation gains that offset the volume decline YoY.
The presence in best cement region helped restrict the revenue decline as focus was shifted on guarding prices with market share preference taking a back seat.
Effectively revenues declined by 1.6% to Rs 5.14 billion. Better cost (energy) controls measures helped to control cost inflation (approximately 1% decline) with a marginal slide.
Effectively the company maintained Ebitda margins at 25% as Ebitda rose 3% YoY to Rs 1.26 billion.
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