ICICI Securities: Prism Johnson - TBK, Ready Mix Concrete Likely To Drag In FY21E 
Contractors wait for cement to be poured on the construction site. (Photographer: Scott McIntyre/Bloomberg)

ICICI Securities: Prism Johnson - TBK, Ready Mix Concrete Likely To Drag In FY21E 

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Prism Johnson Ltd.’s Q1 FY21 Ebitda was down 78% YoY owing to losses in tile bathroom kitchen and ready mixed concrete (TBK and RMC) divisions; though the losses were restricted owing to better cost controls.

Cement volumes were down 23% YoY; while Ebitda/tonne was flat YoY at Rs 1,116/tonne. Consolidated debt was down Rs 2.8 billion owing to better working capital management.

Cement and TBK revenues are marginally down in July 2020; while RMC revenues are still down 50% YoY in July 2020.

Click on the attachment to read the full report:

ICICI Securities Prism Johnson Q1FY21 Results Update.pdf

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