Ambuja Cements stock up 2% post Q4CY19 results

Cement volumes grew ~7% yoy, Cement realisation registered a growth of ~3% yoy, which led to top-line growth of 10%.

Feb 24, 2020 04:02 IST India Infoline News Service

Ambuja Cement
Shares of Ambuja Cements gained 2% in an otherwise weak market on the NSE. The cement company posted a net profit of Rs454.9cr, down by 15.4% and the revenue stood at Rs3,135.9cr in Q4CY19.

Cement volumes grew ~7% yoy, Cement realisation registered a growth of ~3% yoy, which led to top-line growth of 10%. The quarter saw a reduction in key costs i.e. power & fuel and logistics on account of the low cost of fuel, operational efficiencies and optimisation in the supply chain. For the quarter, operating EBITDA stood at Rs548cr as against Rs404cr in the corresponding quarter of the previous year.

The Board of Directors has recommended payment of a dividend of Rs1.50 per share of Rs2 aggregating to Rs298cr.

"Ambuja continued its growth momentum and delivered yet another strong quarter, driven by a robust top-line performance, good traction in power & fuel and logistics costs reduction. We also launched a range of speciality products in construction solutions segment to enhance customer reach and value. Our greenfield project at Marwar Mundwa, Rajasthan, is well on track and will add 4.5 Mn tonnes to cement volumes in our key growth markets." said Bimlendra Jha, Managing Director & CEO.

Ambuja Cements Ltd is currently trading at Rs211.20 up by Rs5.4 or 2.62% from its previous closing of Rs205.80 on the BSE.

The scrip opened at Rs208 and has touched a high and low of Rs212 and Rs202.30 respectively.

Related Story