- In 3QFY20, Net sales were up 10% YoY at INR17.2b & Consol. volumes were up 7.2% YoY at 3.43mt

- Utilization stood at 87% (+5pp YoY) in 3QFY20

- BCORP will increase its capacity by nearly one third over the next two years. New capacity will provide volume growth for the company beyond FY22

- BCORP has 55% of its capacity in the Central India market. With the upcoming Kundanganj unit, its share in central India will increase to ~60%

- The company has increased the share of premium products in the trade channel from 37% last year to 41%. The share of blended cement has also increased from 89% last year to 90.5% now.

- BCORP trades at 5.4x/4.8x FY21/22E EV/EBITDA, which is at 25-40% discount to peers.

Disclaimer: The above report is compiled from information available on public platforms. inChat team advises users to check with certified experts before taking any investment decisions.

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