Views on India Cement 1QFY2016 Results - Angel Broking

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

"India Cement 1QFY2016, results were better than expected on profitability front. The Net sale during the quarter declined by 13% yoy to INR 1071cr and was below our estimate of INR 1153.3cr. However operating profit grew by 19.9% yoy to INR 195cr and was better than estimate of INR 176cr. The EBITDA improvement was largely due to 18% yoy decline in operating cost. EBITDA margin during the quarter improved by 500bp yoy to 18.2% and was above our estimate of 15.3%. The company reported net profit at INR 40.1cr as against loss of INR 3cr during same quarter last year. We maintain BUY rating on the stock with target price of INR 132."

Shares of INDIA CEMENTS LTD. was last trading in BSE at Rs.83.35 as compared to the previous close of Rs. 83.55. The total number of shares traded during the day was 998989 in over 6512 trades.

The stock hit an intraday high of Rs. 86.3 and intraday low of 82. The net turnover during the day was Rs. 83314512.

Source : Equity Bulls

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