• Orient Cement (ORCMNT) reported EBITDA at INR550mn, a growth of 45% YoY. On QoQ basis, realizations fell 8% for the second consecutive quarter. Overall costs/t declined 7%QoQ/2%YoY which arrested the EBITDA/t fall.
• The company reported loss of INR 57mn in 3Q vs loss of INR 137mnYoY. Demand is beginning to trend upwards in key markets of Maharashtra and AP+TG as stalled projects restart.
• The company is expecting clearances for Capex in 4Q for planned expansion in Telangana plant, construction expected to begin in FY21. Post 4Q. The value of stock is at 6.5x FY22 EV/EBITDA.
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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