Ambuja Cements (ACL) reported Q4CY18 numbers significantly below estimates on the operating fronts. Company reported revenue of Rs2,863.3cr (in-line with estimates) led by volume growth of 4.4% yoy. However, due to higher costs, the EBITDA declined by 25.3% yoy to Rs403.9cr, 20% lower than the estimate. EBITDA margin, thus, contracted by 581bps yoy to 14.1% against estimate of 17.8%. Reported PAT was up by 58.8% yoy to Rs537.4cr, which included tax write-back of Rs372cr pertaining to earlier years and exceptional items of Rs85cr (net of tax). Adjusting to the one-offs, the Adjusted PAT stood at Rs214.5cr, ~25% below estimates.
On standalone basis, ACL reported 4.4% yoy growth in volume to 6.13MT with utilisation improving 400bps yoy to 83%. Realization was up 1.1% yoy, but down 2.4% qoq.
Company indicated that the sale of premium products (Roof Special, Compocem and Cool Walls) portfolio improved, and reported 38% yoy growth.
On account of higher costs, operating costs/tonne was up 8.3% yoy, primarily led by 5.3% yoy increase in energy costs (higher pet coke and coal prices), 2.8% yoy increase in freight costs (higher diesel prices and clinker transportation), and increased packaging costs.
Thus, EBITDA/tonne was Rs659, down 28.5% yoy.
Higher other income (up 76.8% yoy) and lower tax rate restricted the decline in adjusted profit despite a steep fall in operating profit.
On consolidated basis, company reported net revenue growth of 9% yoy to Rs6,728.7cr with an EBITDA of Rs908cr (down 7.9% yoy). Reported consolidated PAT stood at 1,377.9cr, including tax write-back of Rs873cr pertaining to earlier years and exceptional items of Rs68cr (net of tax).
Ambuja Cements Ltd is currently trading at Rs. 199.85, up by 2 points or 1.01% from its previous closing of Rs. 197.85 on the BSE.
The scrip opened at Rs. 198.10 and has touched a high and low of Rs. 202.70 and Rs. 198.10 respectively. So far 11,82,724 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.
Start investing in Equities, Derivatives, Mutual Funds and Currency
Temporary Password will be sent to your Mobile No. / Email Address to reset your password.
Make smart financial decisions
Trusted by more than 25 Lakhs Indians
Research and Stocks
Strategy and Tools
Terms & Conditions
By clicking on submit button, you authorize IIFL & its representatives & agents to provide information about various products, offers and services provided by IIFL through any mode including telephone calls, SMS, letters etc. . you confirm that laws in relation to unsolicited communication referred in National Do Not Call Registry as laid down by Telecom Regulatory Authority of India will not be applicable for such information/ communication.