Sagar Cements Q4 Review - New Capacities To Drive Growth: ICICI Direct
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ICICI Direct Report
Sagar Cements Ltd’s Q4 FY21 performance was in line with our estimates, supported by healthy sales volumes.
Revenues grew 37.6% YoY to Rs 417.7 crore (versus our estimate: ~Rs 410.6 crore) led by sales volume growth of 22.2% YoY to 1.02 metric tonne (versus our estimate: 0.99 metric tonne).
Realisations were also up 12.6% YoY to Rs 4,084/tonne while QoQ it was down 3.4%.
Plants during the quarter operated at 70% versus 58% last year, 60% in the last quarter.
Ebitda margin was at 25% versus 14.7% last year. However, it fell 375 basis points QoQ.
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