Motilal Oswal: India Cements Q2 Review - A Beneficiary Of South Production Discipline
A worker carries a sack of cement under a conveyor in a warehouse (Photographer: Udit Kulshrestha/Bloomberg)  

Motilal Oswal: India Cements Q2 Review - A Beneficiary Of South Production Discipline

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.

Motilal Oswal Report

The India Cements Ltd.’s Q2 FY21 results highlight the benefit of high cement prices in South India, which led to the highest Ebitda/tonne since FY14 - at Rs 1,114/tonne (up 102% YoY).

Volumes, however, declined 21% YoY due to weak cement demand in South India and market share loss.

We raise our FY21/FY22E earnings per share by 28%/2%, factoring in a strong realization outlook on the back of a strong production discipline in South.

Click on the attachment to read the full report:

Motilal Oswal India Cements Q2FY21 Results Update.pdf


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.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.