Views on Orient Cement 1QFY2016 Results: Angel Broking

Views of Mr. Shrenik Gujrathi (Sr. Research Analyst - Cement, Angel Broking) on Orient Cement 1QFY2016 Results:

"Orient Cement 1QFY2016 reported numbers were below our expectation. Its top-line de-grew 8.3% yoy to INR 348.9cr and was below our estimate of INR 404.3cr, mainly on back of sharp decline in realization. The company's EBITDA declined by 7.7% yoy to INR 59.1cr and was also below our estimate of INR 76.8cr. However EBITDA margin were stable at 17% up 30bp yoy mainly due to lower raw material and power & fuel expenses; the bottom-line for the quarter declined by 20% yoy to INR 27.9cr. The PAT margin came in at 8.0%, down 113bp yoy. We maintain a NEUTRAL rating on the stock."

Shares of Orient Cement Ltd was last trading in BSE at Rs.188 as compared to the previous close of Rs. 184.1. The total number of shares traded during the day was 29764 in over 365 trades.

The stock hit an intraday high of Rs. 188 and intraday low of 180.65. The net turnover during the day was Rs. 5419942.

Source : Equity Bulls

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