Metals, Mining Q1 Earnings Preview - Strong Margins Offset Weakness In Volumes: Prabhudas Lilladher
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Prabhudas Lilladher Report
Led by sharp increase in steel prices, we expect Ebitda of our coverage universe to grow 6% QoQ.
Steel realisations are expected to increase by 12%/Rs 6,730/tonne QoQ.
While, costs are expected to increase by Rs 2,000/tonne due to higher iron ore cost and lower operating leverage.
While sales volumes are expected to fall sharply by 15% QoQ due to demand impacted by lockdowns and lower exports.
Led by higher realisations, Ebitda/tonne would expand by 24% QoQ to Rs 25,860 for our coverage universe.
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