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India Cements Q4 Results Review: Motilal Oswal Maintains 'Sell' Rating, Cuts Target Price
India Cements' revenue declined ~4% YoY to Rs 12.0 billion in Q4 FY25 (~18% beat), adds Motilal Oswal.
29 Apr 2025, 10:57 AM IST 
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India Cements' variable cost/other expenses/freight cost per ton declined 6%/8%/11% YoY.
(Photo Source: freepik)
India Cements, following the recent change in management (the first quarter after UltraTech took control), has reported an improved performance in Q4 FY25. It has reported an Ebitda of Rs 5 million (versus an estimate of an operating loss of Rs 1.2 billion) in Q4 FY25. Sales volume grew ~8% YoY to 2.6 mt (~12 above our estimate). Net loss stood at Rs 736 million (estimated loss of Rs 1.1 billion) versus a loss of Rs 435 million in Q4...
