Cement Q3 Results Preview - Lofty Ebitda, Yet Limited Reasons To Cheer: ICICI Securities

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..ICICI Securities Report.A combination of elections in four major states and low offtake in east India has put Q3 FY24 industry demand in the slow lane (pegged at ~4% versus ~12% in H1 FY24). Muted volumes also had an impact on pan-India prices, restricting the QoQ hike to ~2% versus more than 4% anticipated in October 2023. While our coverage Ebitda is estimated to rise a lofty ~44% YoY (low base effect), volume miss in Q3 and weak exit for cement prices (1% lower versus Q3 average) offer limited scope for FY24 earnings upgrades (on the contrary, there are chances of some downgrade). The recent decline in fuel rates does offer scope of further easing in cost; however, risk of low demand in FY25 (post-election year) and our expectation of continued volatility in cement prices offer little reason to cheer. We stay Neutral on the sector..Click on the attachment to read the full report:.NBFCs Q3 Results Preview- Healthy Profitability Despite NIM Restraint From Rising Cost Of Funds: Motilal Oswal.DISCLAIMERThis 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.

Cement Q3 Results Preview - Lofty Ebitda, Yet Limited Reasons To Cheer: ICICI Securities

Ebitda/tonne to rise YoY/QoQ; yet earnings upgrade appear elusive

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Cement Q3 Results Preview - Lofty Ebitda, Yet Limited Reasons To Cheer: ICICI Securities

Ebitda/tonne to rise YoY/QoQ; yet earnings upgrade appear elusive

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