Motilal Oswal: Ramco Cements - A Beneficiary Of South Production Discipline  
Workers spread wet cement as they lay foundations during the construction of a new railway bridge. (Photographer: Simon Dawson/Bloomberg)  

Motilal Oswal: Ramco Cements - A Beneficiary Of South Production Discipline  

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Motilal Oswal Report

The Ramco Cements Ltd.’s Q2 FY21 results highlight the benefits of high cement prices in South India, which led to the highest ever cement Ebitda/tonne at Rs 1,895 (up 94% YoY).

Volumes, however, declined 19% YoY due to weak cement demand in South India.

We raise our FY21/FY22E earning per share by 26%/5%, 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 The Ramco Cements Q2FY21 Result Update.pdf

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