Ambuja Cements Q1 Review - Robust QoQ, Fair Valuation: 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.Ambuja Cements Ltd. reported realisation, volume and revenue in-line, however Ebitda, Ebitda/tonne and adjusted profit after tax much above estimates. Ambuja Cements posted 8.4% YoY growth in revenue to Rs 39.3 billion led by 4.8% YoY realisation growth to Rs 5,241/ tonne (up 0.5% QoQ) and up 3.5% YoY volume to 7.49 million tonne. Ebitda/adjusted profit after tax declined by 19.1%/ 25.5% YoY to Rs 7.9 billion/ Rs 5 billion due to cost pressure. We expect 9.7%/ 3.9%/ 8.9% revenue/ Ebitda/adjusted profit after tax compound annual growth rate over CY21- 23E led by 6.5%/ 6.5% volume growth and 5.0%/ 1.0% cement realisation growth in CY22E/ CY23E. We broadly maintain revenue estimates for CY22E/CY23E. However, we increase Ebitda estimates by 35.0%/23.3% and adjusted profit after tax by 39.3%/ 26.5% for CY22E/CY23E respectively factoring Q1 CY22..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.

Ambuja Cements Q1 Review - Robust QoQ, Fair Valuation: Dolat Capital

Ambuja Cements Q1 Review - Robust QoQ, Fair Valuation: Dolat Capital

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