A director at India Cements bought 80,573,273 shares at 390.000INR and the significance rating of the trade was 82/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years cl...
Summary ACC Ltd - Company Profile and SWOT Analysis, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights ACC Ltd (ACC), a subsidiary of Adani Group, is a manufacturer and supplier of cement and ready-mix concrete. It offers a wide range of products including ordinary Portland cement (OPC), Portland Pozzolana cemen...
Summary Marketline's ACC Limited Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by ACC Limited - Mergers & Acquisitions (M&A), Partnerships & Alliances since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports off...
The general evaluation of INDIA CEMENTS (IN), a company active in the Building Materials & Fixtures industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 2 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date December 31, 2021, the clo...
INDIA CEMENTS: Weak volumes remain a key concern; Margins impacted by higher costs (ICEM IN, Mkt Cap USD0.7b, CMP INR179, TP INR190, 6% Upside, Neutral) India Cements (ICEM)’s 1QFY22 EBITDA was 18% below estimate, weighed by higher costs and lower volumes. Utilization stood at just 50% in 1QFY22. We revise down our FY22E/FY23E EPS by 7%/7%, factoring in weaker volumes and higher costs. ICEM trades at 10.3x FY23E EV/EBITDA, which is fair, in our view, given its strong presence in South. W...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
India Cement: Marginal miss led by lower volumes (ICEM IN, Mkt Cap USD0.3b, CMP INR77, TP INR80, 3% Upside, Neutral) Demand revival in South-India key India Cement’s (ICEM) 3QFY20 results highlight the demand slowdown in South India. Overall, volumes declined 10% YoY with pricing down 4% QoQ on demand weakness while EBIDTA/t reduced 12% QoQ led by lower realizations. We maintain our FY20/FY21E estimates and Neutral rating and believe that demand revival in the South and subsequent prici...
India Cements: Miss led by lower volumes; Demand recovery in South India remains key (ICEM IN, Mkt Cap USD0.4b, CMP INR84, TP INR80, 5% Downside, Neutral) Volume decline led by demand weakness in South India: 2QFY20 volumes declined 13% YoY to 2.67mt; blended realizations declined 3% QoQ to INR4,671/t due to weaker prices in the southern markets. Thus, net sales declined 10% YoY to INR12.5b (v/s est. INR13.4b). EBITDA declines 5% YoY: EBITA/t came in at INR552 (higher than est. INR513). ...
INDIA CEMENTS: Strong margin delivery with healthy realizations (ICEM IN, Mkt Cap USD0.4b, CMP INR87, TP INR90, 4% Upside, Neutral) Volumes decline, but robust prices drive realizations…: Volumes declined 1% YoY to 3.0mt in 1QFY20. Blended realizations were up 9% YoY to INR4,828/t due to healthy prices in the focus markets. Thus, net sales were up 8% YoY to INR14.7b (our estimate: INR14.3b). …and in turn strong profitability: Blended EBITDA/t was up 57% YoY to INR795, as higher cost/t (+...
India Cements: Margin miss led by higher costs; capacity expansion dependent on sustainability of margins (ICEM IN, Mkt Cap USD0.5b, CMP INR114, TP INR117, 2% Upside, Neutral) Healthy volume and realization growth: 4QFY19 volumes grew 8% YoY to 3.33mt (higher than est. of 3.23mt). Blended realizations increased 4% YoY to INR4,697/t due to healthy prices in South India in Feb-Mar 2019. Thus, net sales increased 12% YoY to INR15.6b. Higher-than-estimated cost impacts profitability: Blended...
India Cements: Higher cost leads to miss on margins; But pressure to ease going forward (ICEM IN, Mkt Cap USD0.3b, CMP INR80, TP INR81, 1% Upside, Neutral) In-line sales/realizations: ICEM’s volumes grew 9% YoY to 2.96mt (in-line) in 3QFY19. This, however, lagged industry growth, as sales were affected by cyclone in Tamil Nadu. Blended realizations declined 1.3% QoQ (flat YoY) to INR4,450/t (in-line). Net sales, thus, increased 8.5% YoY to INR13.16b. Higher cost/t impacts margins: Cost/t...
Summary OCL India Ltd - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360Ëš view of the company. Key Highlights OCL India Limited (OCL) is a company that is engaged in the manufacturing of cement. The company also involves in the manufacture of refractories. Its product range includes Portland cement, bl...
India Cements: Revenue in-line; PAT miss attributed to FX headwinds (ICEM IN, Mkt Cap USD0.4b, CMP INR96, TP INR93, 3% Downside, Neutral) In-line sales; south demand robust: ICEM’s 2QFY19 volumes grew 14% YoY to 3.08mt (in-line), led by healthy demand growth in the south market. Blended realizations increased 2% QoQ (-4% YoY) to INR4,508/t (in-line). Net sales, thus, increased 9% YoY to INR13.9b (in-line). Earnings hurt by FX fluctuations: Cost/t increased 2% QoQ. Blended EBITDA/t declin...
India Cements: Margin miss led by lower-than-estimated realizations (ICEM IN, Mkt Cap USD0.5b, CMP INR108, TP INR120, 11% Upside, Neutral) Volumes driven by strong south demand: ICEM’s 1QFY19 volumes grew 16% YoY to 3.08mt (our estimate: 3.05mt), led by healthy demand growth (+20% YoY) in the south market. Blended realizations declined 2.2% QoQ to INR4,425/t (est. of INR4,564). Consequently, net sales of INR13.6b (+5% YoY) came in below our estimate of INR13.9b. Profitability hurt by low...
India Cements: Lower interest cost drives profits (ICEM IN, Mkt Cap USD0.6b, CMP INR130, TP INR145, 11% Upside, Neutral) Volumes increase 6% YoY: ICEM's 4QFY18 volumes rose 6% YoY to 3.08mt, lower than our estimate of 3.16mt due to demand weakness in the core market of TN, partially offset by healthy demand in AP and Telangana. Blended realizations increased 2% QoQ to INR4,524/t (est. of INR4,365), resulting in net sales growth of 4% YoY to INR13.9b (est. of INR 13.7b). Sequential declin...
India Cements: Cost-efficiency initiatives partially offset realization impact (ICEM IN, Mkt Cap USD0.7b, CMP INR161, TP INR148, 9% Downside, Neutral) Realizations decline QoQ due to weak pricing: Volumes were muted at 2.73mt (+3% YoY) v/s est. of 2.76mt, as demand was impacted in core markets of TN and Kerala. Blended realizations declined 5% QoQ/7% YoY to INR4,450/t (est. of INR4,845) due to weak prices in south market. Revenue declined 4% YoY to INR12.1b (est. of INR 13.4b) due to lowe...
​India Cements: EBITDA beat led by lower other expenses(ICEM IN, Mkt Cap USD0.8b, CMP INR174, TP INR188, 8% Upside, Neutral)Realizations decline due to weak pricing: ICEM posted volume of 2.7mt (-2% YoY, +2% QoQ) due to lower volume in south on account of demand weakness in Tamil Nadu. Blended realizations fell 3% QoQ to INR4,696/t due to weak prices in south. Cement realization declined 5% QoQ on a fall in the underlying markets of TN and AP/Telangana. Revenue fell 2% QoQ to INR12.68b (YoY fi...
​India Cements: Lower-than-estimated earnings led by higher employee and interest cost(ICEM IN, Mkt Cap USD0.9b, CMP INR203, TP INR201, 1% Downside, Neutral)India Cements (ICEM) posted flat YoY volumes of 2.66mt, as south volumes declined 8% YoY, offset by 15% YoY increase in non-south volumes and growth in export markets. Blended cement realizations increased 5% QoQ due to price improvement in the focus markets. Revenues declined 4% QoQ to INR12.89b (YoY financials are not comparable as 1QFY1...
​India Cements: Beat led by better-than-estimated realizations(ICEM IN, Mkt Cap USD0.9b, CMP INR188, TP INR210, 12% Upside, Neutral)Volumes up 2% YoY: India Cements (ICEM) posted 2% YoY growth in cement volumes to 2.91mt (incl. Trinetra volumes) in 4QFY17, as the growth rate moderated in the southern markets. Gross cement realizations increased 2% QoQ, better than our estimate of a 2% decline. Revenues of INR13.4b increased 7% QoQ. YoY financials are not comparable as 4QFY16 does not include t...
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