Aditya Birla Group company Ultratech Cement will announce its fourth quarter (January-March) results on Wednesday. Analysts on an average expect profit after tax of the cement company at Rs 610 crore, down 16 percent compared to same quarter last year on weak operational performance and higher depreciation cost (post capacity addition).
Aditya Birla Group company Ultratech Cement will announce its fourth quarter (January-March) results on Wednesday. Analysts on an average expect profit after tax of the cement company at Rs 610 crore, down 16 percent compared to same quarter last year on weak operational performance and higher depreciation cost (post capacity addition).
Sales during the same period increased 5.8 percent to Rs 5,700 crore in the quarter ended March 2014 from Rs 5,389.2 crore in same quarter last year owing to stronger volume and cement prices.
Cement volume is expected to be 11.6 million tonne, up 3 percent compared to corresponding quarter and 16 percent compared to previous quarter while realisation is estimated to grow by 3 percent year-on-year and 3 percent on sequential basis.
In case of operational performance, operating profit is likely to decline 9.9 percent year-on-year to Rs 1,080 crore and margin may dip 330 basis points to 18.95 percent on higher railway and diesel prices during the quarter. However, on sequential basis, analysts feel the margin may expand due to strong realisations coupled with sequentially stable cost.
Ultratech Cement has Pan India presence. All India average cement price rose 5 percent year-on-year and 2 percent quarter-on-quarter while prices in northern and central part of India grew 9-10 percent Y-o-Y.
Analysts believe gains in North region may be partly offset by declines in Southern part leading to a marginal Q-o-Q growth. Cement prices in North india aided by supply shortage due to the shutdown of Binani Cements' plants in Rajasthan, up 9.5 percent Y-o-Y per 50 kg bag and 9 percent Q-o-Q per bag whereas cement prices in South declined 1 percent Y-o-Y per bag and slipped 14 percent Q-o-Q per bag.
Its supplementary business of white cement and ready-mixed concrete (RMC) is estimated to grow 11 percent and 1 percent Y-o-Y, respectively in volume and 2.5 percent each Y-o-Y in realisations.
Key issues to watch out for are volume growth recovery & outlook, cement pricing outlook & sustainability, progress & timeline over Jaiprakash Associates deal, and update on financial performance of Star Cement, UAE.
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