Centrum Broking: Shree Cement Q2 Review- Premium Valuations A Concern
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Centrum Broking Report
Shree Cement Ltd.’s Q2 FY21 performance was ahead of Centrum Broking Ltd.’s estimates as volume boost was the key driver in revenues, while cost check pushed earnings higher.
Revenue increased 8% YoY to Rs 30.2 billion as volume rose by 14% to 6.53 million tonnes and realisation stayed flat at Rs 4,627/tonne (Rs 4,653/tonne in Q2 FY20).
Operating cost was well controlled with ~9% YoY decline driven by energy cost savings.
Effectively, Shree Cement’s Ebitda jumped ~17% to ~ Rs 9.88 billion. Shree Cement has stopped reporting the power segment’s performance.
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