Dalmia Bharat Q2 Results Review - Higher Opex Reduction Leads To Better-Than-Expected Margins: Motilal Oswal

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..Motilal Oswal Report.Dalmia Bharat Ltd.’s Q2 FY24 Ebitda came in at Rs 5.9 billion versus estimated Rs 5.8 billion and Ebitda/tonne stood at Rs 950 versus estimated Rs 905. Adjusted profit after tax (after MI) came in at Rs 1.2 billion (4.3 times YoY) versus estimated Rs 927 million, driven by higher ‘other income’. The company lost some market share in North Bihar and West Bengal due to certain pricing decisions that did not yield the intended results. It has implemented some corrective measures and the company anticipates positive outcomes starting from Q4. Its focus is on optimising utilisation and outpacing industry growth. We raise our Ebitda estimate by 2% for FY24/FY25 (each) and profit after tax estimate by 3% for FY24/FY25 (each), given the higher cost savings. We have not yet factored in JP asset acquisition into our assumptions. We reiterate our 'Buy' rating with a revised target price of Rs 2,800 (versus Rs 2,760 earlier)..Click on the attachment to read the full report:.Dalmia Bharat, Karur Vysya Bank Q2 Results Review: HDFC Securities.DISCLAIMERThis 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.

Dalmia Bharat Q2 Results Review - Higher Opex Reduction Leads To Better-Than-Expected Margins: Motilal Oswal

Price hikes in East and South to further improve profitability.

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