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
The India Cements Ltd.'s Q2 FY21 results highlight the benefit of high cement prices in South India, which led to the highest Ebitda/tonne since FY14 - at Rs 1,114/tonne (up 102% YoY).
Volumes, however, declined 21% YoY due to weak cement demand in South India and market share loss.
We raise our FY21/FY22E earnings per share by 28%/2%, factoring in a strong realization outlook on the back of a strong production discipline in South.
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