Views on Shree Cement 3QFY2014 result - Angel Broking

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

"For 3QFY2014 Shree Cements' results were below estimates on the bottom-line front, due to lower than estimated operating margins. The company posted a 12.8% yoy increase in top-line to Rs. 1,660cr, which was better than estimates. Cement division posted a robust top-line growth of 29% yoy to Rs. 1,487cr. However, Power division posted a 21% yoy decline in sales. OPM fell by 287bp yoy to 25.7%. During the quarter the company had extra-ordinary expenses of Rs. 74cr and prior period tax credit of Rs. 68cr. Adjusted for the same, the company's PAT fell by 17% yoy to Rs. 228cr. We maintain a neutral rating on the stock."

Shares of SHREE CEMENT LTD. was last trading in BSE at Rs.5709 as compared to the previous close of Rs. 5681.9. The total number of shares traded during the day was 84 in over 66 trades.

The stock hit an intraday high of Rs. 5720 and intraday low of 5675. The net turnover during the day was Rs. 477964.

Source : Equity Bulls

Keywords