Sagar Cements Q1 Review - New Capacities To Drive Strong Growth From H2 FY22E: ICICI Direct
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ICICI Securities Report
Sagar Cements Ltd.'s Q1 FY22 results remained ahead of our estimates led by better-than expected sales volume and improved realisations.
Clocked revenue of Rs 392.6 crore, down 6% QoQ led by sales volumes de-growth of 14% to 0.88 million tonne.
On a YoY basis, revenues were up 48.6%.
Ebitda/tonne was up 19.5% QoQ to Rs 1218/tonne (versus last quarter Ebitda/tonne of Rs 1,019/tonne).
Ebitda margin was at 27.3%, up 232 basis points QoQ (down 566 bps YoY).
Sagar Cements' profit after tax was at Rs 50.1 crore, up 39.2% YoY, flat QoQ (our estimate: Rs 40.7 crore).
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