ICICI Securities: Orient Cement - Higher Prices, Lower Costs Drive Outperformance In Q2
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.
ICICI Securities Report
Orient Cement Ltd.’s Q2 FY21 Ebitda at Rs 1.13 billion (more than doubled YoY) was ahead of our/consensus estimates led by lower costs.
Total cost/tonne declined 4% YoY owing to strict cost control and better efficiencies; while realisation increased 13% YoY leading to 2.6 times increase in Ebitda/tonne to Rs 1,109/tonne (our estimate Rs1,028/tonne).
Volumes declined 18% YoY, broadly in-line with demand in its key markets of South and Maharashtra.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.