India Cements reported a poor set of numbers for the quarter ended December 2018. Revenue for the quarter grew 8.5% yoy to Rs1,316.3cr, in line with the estimates. EBITDA declined 19.4% yoy to Rs134.9cr on account of higher cost structure. EBITDA margin contracted ~354bps yoy to 10.2%. EBITDA decline led to a sharp decline of 79.5% yoy in PAT, which stood at Rs3.1cr against estimate of Rs2.2cr.
Power cost for the quarter was up 532bps yoy as a percent of net sales.
Interest cost was down 21.2% yoy to Rs72.8cr.
Other income for the quarter grew 16.3% yoy to Rs4.3cr.
India Cements share price is currently at Rs77.20, down 0.8 points, or 1.03%, from its previous close of Rs78 on the BSE. The scrip opened at Rs79 and has touched a high and low of Rs79.85 and Rs76.05 respectively. A total of 90,21,839 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200-DMA.
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