India Cements - Q4FY13 Result Review - Angel Broking

India Cements posted weak set of numbers for 4QFY2013. Net sales rose by 8.1% yoy to Rs. 1,199cr. Sale volumes rose by 6.7% yoy to 2.8mn tonnes. Net Plant Realization fell by 6.2% yoy to Rs. 3,250/tonne. OPM fell by 412bp yoy on account of lower realization and increase in input costs. Overall Input costs rose on account of higher freight coasts and other expenses. Bottom-line fell by 61% yoy to Rs. 26cr.

We maintain our neutral rating on the stock.

Source : Equity Bulls

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