Q1FY22 Result Update - Sagar Cements - ICICI Direct

Results remained ahead of our estimates led by better-than-expected sales volume and improved realisations.

- Clocked revenue of Rs. 392.6 crore, down 6% QoQ led by sales volumes de-growth of 14% to 0.88 MT. On a YoY basis, revenues were up 48.6%

- EBITDA/t was up 19.5% QoQ to Rs. 1218/t (vs. last quarter EBITDA/t of Rs. 1,019/t). EBITDA margin was at 27.3%, up 232 bps QoQ (down 566 bps YoY)

- PAT was at Rs. 50.1 crore, up 39.2% YoY, flat QoQ (our estimate: Rs. 40.7 crore)

Key triggers for future price performance

- Incremental volumes from new units (1 MT integrated unit at MP, 1.5 MT grinding unit in Odisha) to help grow the business from H2FY22 onwards

- Expect sales revenue CAGR of 30.8% in FY21-23E led by 30% CAGR in volumes. Debt levels to peak out in FY22E;

- Strong operating cash flows to help the company achieve 10 MT capacity by FY25E

For details, click on the link below: Link to the report

Shares of SAGAR CEMENTS LTD. was last trading in BSE at Rs. 1312.3 as compared to the previous close of Rs. 1302.15. The total number of shares traded during the day was 3817 in over 901 trades.

The stock hit an intraday high of Rs. 1331.6 and intraday low of 1302. The net turnover during the day was Rs. 5032537.

Source : Equity Bulls

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