Shree Cement Q1 Review - Ebitda In-Line; Lags Peers In Volume Growth: Motilal Oswal
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
Shree Cement Ltd.’s Q1 FY22 result was in-line, with Ebitda up 45% YoY – as higher realisation was offset by disappointment on cost, leading to weaker Ebitda/tonne of Rs 1,482 (versus our estimate of Rs 1,552/tonne).
Shree Cement's volume growth at 39% YoY, weighed by lower clinker sales, was also weaker versus peers.
We broadly maintain our FY22E/FY23E estimates and expect a 13%/13% volume/Ebitda compound annual growth rate over FY21–23E.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.