Shree Cement: 1QFY17 Result: FIRST CUT - Reliance Securities

- Shree Cement (SCL) has reported a better-than-anticipated operating performance with its EBITDA at Rs7.3bn (+108% yoy) mainly led by better than anticipated surge in average realizations (+15% yoy).

- Further, a sharp decline in power and fuel cost (-28% yoy & -9% qoq on per tonne basis) aided growth in operating profit.

- A sharp surge in realization jump seen in Northern markets and recovery in Eastern markets due to low base led to sharp utpick in realizations.

- Cement EBITDA/tonne came in at Rs1,262 as against Rs654 reported in June quarter last year and Rs772 in previous quarter.

- Sales volume (including clinker) grew by ~16% yoy to 5.17mnT. Power EBITDA stood at Rs784mn (+32% yoy).

Shares of SHREE CEMENT LTD. was last trading in BSE at Rs.16830.5 as compared to the previous close of Rs. 16616.55. The total number of shares traded during the day was 2583 in over 1376 trades.

The stock hit an intraday high of Rs. 17650 and intraday low of 16816.3. The net turnover during the day was Rs. 44365571.

Source : Equity Bulls

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