Star Cement Q4 Review - Robust QoQ Performance: Dolat Capital

BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Dolat Capital Report.Star Cement Ltd. reported beat on all front except realisation in line. The company posted 24.3% YoY growth in revenue to Rs 7.5 billion led by 26.5% YoY increase in volume (up 31.8% QoQ) which was partially offset by down 1.7% YoY realization to Rs 6,504 (up 2.4% QoQ). Ebitda/adjusted profit after tax reported up 8.6% /up 8.7% YoY to Rs 1.1 billion/ Rs 884 million. We expect 13.0%/ 17.2%/ 3.2% revenue/ Ebitda/adjusted profit after tax compound annual growth rate over FY22-24E led by 13.0%/ 10.0% volume growth and 2.2% / 0.5% realisation growth in FY23E/ FY24E. With commencement of its two million tonnes per annum cement grinding capacity at Siliguri, West Bengal in January 2021, Star Cement’s total cement grinding capacity increased by 32.6% to 5.7 mtpa which will support additional volume growth and reduce its cost of sales for outside north east region..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime 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 BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Star Cement Q4 Review - Robust QoQ Performance: Dolat Capital

Star Cement Q4 Review - Robust QoQ Performance: Dolat Capital

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