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Yes Securities Report
Sagar Cements Ltd.'s volume de-grew by 12.9% QoQ and 13.6% YoY to 0.74 metric tonne (our estimate: 0.89 metric tonne) in Q3 FY22 due to unseasonal/extended rains in focused markets and net realisation/tonne (blended) stood at Rs 4,489/tonne (3.8% QoQ and 6.2% YoY).
Sagar Cements reported revenue to Rs 3337 million (our estimate: Rs 3887 million) lower by 9.6% QoQ and 8.3% YoY in Q3 FY22 due to weak demand in the southern regions because of unseasonal/extended rains.
Ebitda declined by 23.8% QoQ and 55.7% YoY to Rs 463 million (versus our estimate: Rs 717 million) in Q3 FY22 due to unprecedented cost escalation (for raw material, freight and fuel cost) coupled with weak demand scenario resulted in margin deterioration by 260 bps QOQ and 1483 bps YoY.
While prices for imported pet coke/imported coal has fallen by 36.4%/16.4% sequentially which will start reflecting from subsequent quarters.
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