Views on Ultratech Cement 3QFY2014 result - Angel Broking

Views of Mr. V. Srinivasan (Research Analyst - Cement, Angel Broking) on Ultratech Cement 3QFY2014 result:

"For 3QFY2014 Ultratech Cement's (Ultratech) results were in-line with estimates. The company's top-line fell 1.5% yoy to Rs. 4,786cr on account of flat performance on the volumes front and a decline in cement realizations due to subdued demand. The company's domestic cement and clinker sales remained flat at 9.7mn tonnes. The sale volumes of white cement and wall care putty rose by 10.3% yoy to 0.29mn tonnes. Blended realizations fell by 1.7% yoy to Rs. 4,791/tonne. OPM fell by 497bp yoy to 16.5% on account of lower realizations and increase in operating costs such as raw material, power and fuel and freight costs. Bottom-line fell by 38% yoy to Rs. 370cr. We maintain a neutral rating on the stock."

Source : Equity Bulls

Keywords