Star Cement Q2 Review - Recent Capacity Expansion To Drive Growth: Dolat Capital

"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..Dolat Capital Report.Star Cement Ltd. reported revenue and volume below; Ebitda/tonne and adjusted profit after tax above estimates however Ebitda and realisation were in line. Star Cement posted muted set of numbers with up 1.2%/down 9.2%/down 22.8% YoY in revenue/Ebitda/adjusted profit after tax to Rs 4.1 billion/Rs 717 million/Rs 465 million led by up 5.3% growth in realisation offset by down 3.9% YoY volume.  We expect 15.7%/17.3%/25.3% revenue/Ebitda/adjusted profit after tax compound annual growth rate over FY21-24E led by 22.0%/12.0%/9.0% volume growth and 4.0%/down 0.5%/down 0.5% realisation growth in FY22E/FY23E/FY24E.  We broadly maintain revenue estimates and decrease Ebitda and adjusted profit after tax estimates by 7.7%/11.5% and 7.3%/10.5% for FY22E/FY23E respectively considering H1 FY22 results. .Click on the attachment to read the full report:.DISCLAIMERThis 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."

Star Cement Q2 Review - Recent Capacity Expansion To Drive Growth: Dolat Capital