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  

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 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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