Madras Cements - 4QFY2013 Result Review - Angel Broking

Madras Cements posted a weak financial performance for 4QFY2013. Top-line rose by 5.5% yoy to Rs. 927cr. OPM stood at 15.2%, down 732bp yoy, impacted by decline in realizations and increase in freight costs, employee costs and other expenses. Bottom-line fell by 35% yoy to Rs. 64cr.

We maintain a Neutral rating on the stock.

Source : Equity Bulls

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