Ambuja Cements Slips The Most In Nearly Three Weeks

Shares of Ambuja Cements Ltd. fell over 4%, the most in nearly three weeks after the company reported a decline in net profit in the quarter ended December.

December quarter earnings (Standalone, YoY)

  • Net profit down 49% at Rs 251.66 crore
  • Revenue up 6.3% at Rs 3,735.12 crore
  • Total costs up 16% at Rs 3,362.21 crore
  • Other income down 16% at Rs 33.23 crore
  • Ebitda down 16% at Rs 568 crore
  • Dividend per share at Rs. 6.30

Company expects cement demand growth to be positive aided by increased demand for housing combined with government’s thrust on infrastructure development.

  • Firm approved in principle investment of Rs 3,500 crore for a cement grinding expansion plan of potential 7 million tonnes.
  • Of the 45 analysts tracking the company, 32 maintain ‘buy’, eight recommend ‘hold’ and five recommend ‘sell’. The overall consensus price of analysts tracked by Bloomberg implies an upside of 19.9%.
  • Trading volume on the stock was 7.5 times the 30-day average volume at this time of the day.

Source: Exchange Filing, Bloomberg

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