Heidelberg Cement’s  Higher Costs Flattened Q3 Earnings Growth: Prabhudas Lilladher
A cement brick and trowel sit on a wall of home under construction (Photographer Chris Ratcliffe/Bloomberg)

Heidelberg Cement’s Higher Costs Flattened Q3 Earnings Growth: Prabhudas Lilladher

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Prabhudas Lilladher Report

Heidelberg Cement India Ltd. reported Ebitda below our/consensus estimates by 8%/11% due to steeper than expected increase in costs.

The company’s Ebitda/earnings per share grew at a compound annual growth rate of 25%/66% over FY16-FY20, predominantly led by revival in prices post consolidation in the central region.

Ebitda/tonne grew at CAGR of 23% while volumes grew marginally by 1.4% due to capacity constraints.

Strong prices in the region has attracted meaningful surge in volumes from other regions.

Increased supplies due to inflow from other regions and commencement of new capacities would keep prices under pressure.

Click on the attachment to read the full report:

Prabhudas Lilladher Heidelberg Cement Q3FY21 Result Update.pdf


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