Orient Cement - Balancing Growth, Leverage In Q3: ICICI Securities 
A worker unloads a sack of cement from a freight train in Mumbai, India. (Photographer Kuni Takahashi/Bloomberg)

Orient Cement - Balancing Growth, Leverage In Q3: ICICI Securities 

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.

ICICI Securities Report

Orient Cement Ltd.’s Q3 FY21 Ebitda at Rs 1.37 billion (up 2.5 times YoY) was ahead of our/consensus estimates, led by better realisation and lower costs.

Realisation increased 17% YoY (declined 5% QoQ) led by firm prices in South, while total cost/tonne stood flat YoY owing to low-cost fuel inventory and improved efficiencies.

The company plans to set up two million tonne grinding unit at a capex of Rs 5 billion in Maharashtra, mainly to save logistic costs and also set up 10 megawatt waste heat recovery system at a capex of Rs 1 billion by Q3 FY23E.

Click on the attachment to read the full report:

ICICI Securities Orient Cement Q3FY21 Result Update.pdf

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