Ambuja Cement Q3 Results Review - Weak Numbers, 'Sell': IDBI Capital

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..IDBI Capital Report.Ambuja Cements Ltd.'s Q3 FY24 Ebitda came lower than consensus estimate by 13%. This is led by higher raw material cost from purchase of clinker. Volume growth in consolidated business continues to remain weak at 3% YoY in Q3 FY24 and thus Ambuja Cements is loosing market share to its peers. Weak volume is led by lack of capacity but on positive side Ebitda/tonne at Rs 1228 is better than peers. We understand volume growth to get support once Ambuja Cement starts commissioning capacity. Ambuja Cement is expected to increase its capacity by 27% / 11% in FY25E and FY26E and has ordered equipment. We have roll forward target price to FY26E but retain 'Sell' rating and prefer ACC Ltd. (as its profitability is improving). Our revised target price on Ambuja Cements is Rs 522 (earlier Rs 371). For Ambuja Cement we value at 15 times FY26 enterprise value/Ebitda and its ACC stake is valued at 20% discount to current market price..Click on the attachment to read the full report:.Shree Cement Q3 Results Review - Beats Expectations; Upgrade To Hold: Systematix.This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Ambuja Cement Q3 Results Review - Weak Numbers, 'Sell': IDBI Capital

Ambuja Cements completed acquisition of Sanghi Industries having 6.1 mtpa capacity, overall company's consolidated capacity has reached 77.4 mtpa.

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Ambuja Cement Q3 Results Review - Weak Numbers, 'Sell': IDBI Capital

Ambuja Cements completed acquisition of Sanghi Industries having 6.1 mtpa capacity, overall company's consolidated capacity has reached 77.4 mtpa.

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