External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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External broker reports(aggregated public sources)

Equity Bottom-Up

<p>Shree Cement reported healthy Q1FY22 Revenue/EBITDA/APAT growth of 48%/45%/78% on a YoY basis led by better cement demand and higher realization during the quarter. The volume for the quarter was 6.84 mntpa, up 39% YoY. The blended realization during the quarter was Rs 5,043/tonne which was higher by 7%/5% on YoY and QoQ basis. The company reported EBITDA/tonne of Rs 1,482 (Rs 1,421/tonne in Q1FY21) and was up 4.3% YoY owing to higher volume and realization. The company reported an EBITDA margin of 29.4% (slightly below our expectation) against 30.1% YoY. APAT was higher due to higher realization, lower depreciation, and interest cost. Cost/tonne increased by 8% to Rs 3,561 YoY.</p><p>We maintain our HOLD rating on the stock with TP of Rs.29000/share implying an upside of 3% from CMP.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Shree Cement reported healthy Q1FY22 Revenue/EBITDA/APAT growth of 48%/45%/78% on a YoY basis led by better cement demand and higher realization during the quarter. The volume for the quarter was 6.84 mntpa, up 39% YoY. The blended realization during the quarter was Rs 5,043/tonne which was higher by 7%/5% on YoY and QoQ basis. The company reported EBITDA/tonne of Rs 1,482 (Rs 1,421/tonne in Q1FY21) and was up 4.3% YoY owing to higher volume and realization. The company reported an EBITDA margin of 29.4% (slightly below our expectation) against 30.1% YoY. APAT was higher due to higher realization, lower depreciation, and interest cost. Cost/tonne increased by 8% to Rs 3,561 YoY.We maintain our HOLD rating on the stock with TP of Rs.29000/share implying an upside of 3% from CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Shree Cement: Operating Performance In-Line but Upside Capped