BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Dolat Capital Report
Shree Cement Ltd. reported revenue in line, however volume, Ebitda, Ebitda/tonne and adjusted profit after tax above estimates whereas realisation/tonne below estimates.
Shree Cement posted 17.9% YoY growth in revenue to Rs 37.8 billion led by up 18.0% YoY (-0.6% QoQ) in volume to 7.46 million tonne, which was partially offset by -0.1% YoY (-9.5% QoQ) in realisation/tonne to Rs 5,071.
Ebitda/ adjusted profit after tax reported -42.0%/ -66.9% YoY to Rs 5.2 billion/ Rs 1.9 billion in Q2 FY23.
We expect 12.2%/ 9.6%/ 0.4% revenue/ Ebitda/adjusted profit after tax compound annual growth rate over FY22-25E led by 13.1%/ 12.0%/ 8.5% volume growth and 2.7%/ 0.0%/ 0.0% blended realisation growth in FY23E/ FY24E/ FY25E.
We broadly maintain our revenue estimates for FY23E and increase Ebitda/adjusted profit after tax estimates by 7.7%/ 9.1% for FY23E factoring Q2 FY23. However, we maintain our estimates for FY24E and introduce FY25E.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR