Views on Ultratech Cement 1QFY2015 Results: Angel Broking

Views of Mr. Shrenik Gujrathi (Sr. Research Analyst - Cement, Angel Broking) on Ultratech Cement 1QFY2015 Results:

"Ultratech Cement 1QFY16 results were better than expected on profitability front but was slightly below estimate on top line. The company reported an EBITDA of INR 1151.9cr versus INR 1007.9cr during 1QFY2015, up 14.3% yoy. It was above our estimate of INR 1073.3cr. The EBITDA margin came in at 18.9% versus 17.8% during 1QFY2015, a jump of 110bp yoy. EBITDA margin were above our expectation of 17.3% mainly due to lower power & fuel and other expenses. On bottom line the PAT came in at INR 590.8cr and was above our estimate of INR 537.5cr. However on the top-line front, it reported a growth of 7.9% yoy to INR 6097.5cr which was below our estimate of INR 6217.2cr mainly due to lower cement volume. Realizations increased by 4% yoy to INR 5023/tonne was mainly in line with our estimate of INR 5039/tonne. On the other hand cement volume saw growth of 3.8% yoy and came in at 12.14mt but was below our estimate of 12.3mt. We maintain NEUTRAL rating on the stock."

Shares of ULTRATECH CEMENT LTD. was last trading in BSE at Rs.3353.95 as compared to the previous close of Rs. 3216.65. The total number of shares traded during the day was 76399 in over 8878 trades.

The stock hit an intraday high of Rs. 3369.5 and intraday low of 3119. The net turnover during the day was Rs. 248200596.

Source : Equity Bulls

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