Ramco Cement Q4 Review – New Capacities To Fuel Growth: ICICI Direct

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Ramco Cements Ltd.’s Q4 FY21 numbers were in line with our estimates at the operational level.

Sales volume increased 9.5% YoY to 3.21 million tonne, up 23% QoQ due to healthy demand in the east region and pick-up in infra demand from south region.

Realisations also improved 6.8% YoY. However, it was down 1.3% QoQ due to a rise in non-trade mix.

This led to revenue growth of 17% YoY, 21.3% QoQ to Rs 1,631 crore (versus our estimate: Rs 1,625 crore).

Capacity utilisation for the quarter was at 69% versus 56% while clinker utilisation was at 92% versus 93% last year.

Click on the attachment to read the full report:

ICICI Direct Ramco Cement Q4FY21 Result Update.pdf


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