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