HDFC Securities: Ambuja Cements’  Stellar Show Yet Again, Dividend Bonanza Announced
A worker loads material into a cement mixer at the under-construction residential development (Photographer Akos Stiller/Bloomberg)

HDFC Securities: Ambuja Cements’ Stellar Show Yet Again, Dividend Bonanza Announced

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.

HDFC Securities Report

During Q3 CY20, Ambuja Cements Ltd. reported strong results.

Standalone net sales/Ebitda/adjusted profit after tax rose 9/55/88% YoY to Rs 28.53/6.80/4.41 billion respectively.

Volumes jumped 8% YoY on strong retail demand. Opex fell 8% YoY on robust (and structural) cost controls and low fuel prices, driving a 44% jump in unitary Ebitda to Rs 1,200/ metric tonne.

In a positive surprise, the company announced Rs 17 per share dividends, thus paying off 60% of its large cash pile up on books.

Click on the attachment to read the full report:

HDFC Securities Ambuja Cements Q2FY21 Results Update.pdf

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