reports
MOSL: THE RAMCO CEMENTS (Buy)- Higher realization drives profitability
​The Ramco Cements:Higher realization drives profitability(TRCL IN, Mkt Cap USD2.5b, CMP INR720, TP INR853, 19% Upside, Buy)Volume growth driven by east: TRCL’s volumes grew 6% YoY (flat QoQ) to 2.15mt in 2QFY18, driven by higher sales to east markets with the ramp-up of the Vizag unit. Volumes for south operations were impacted by weak demand from TN, partially offset by higher demand from AP/Telangana.Realization improvement led by favorable mix: Cement realization rose 4% QoQ to INR4,783/...
MOSL: THE RAMCO CEMENTS (Buy)-In-line result-capacity expansion to dri...
​The Ramco Cements: In-line result; capacity expansion to drive growth(TRCL IN, Mkt Cap USD2.4b, CMP INR689, TP INR806, 17% Upside, Buy)East continues to gain momentum: TRCL's volumes grew 4% YoY (-6% QoQ) to 2.15mt (est. of 2.16mt) in 1QFY18, driven by increased sales to the east markets. Volumes for the southern operations declined due to weak demand in Tamil Nadu on account of sand shortage. Sequential growth in realization: Cement realization increased 4% QoQ (+1% YoY) to INR4,607/tonne (e...
MOSL: THE RAMCO CEMENTS (Buy)-Weak realization and higher other expens...
​The Ramco Cements: Weak realization and higher other expenses drag margins(TRCL IN, Mkt Cap USD2.5b, CMP INR688, TP INR823, 19% Upside, Buy)Healthy volume growth: TRCL’s volumes grew 10% YoY (+15% QoQ) to 2.28mt in 4QFY17 (est. of 2.21mt), driven by higher sales to the eastern markets and growth in the markets of AP/Telangana.Sharp decline in realizations: Cement realization fell 5% QoQ (-12% YoY) to INR4,450/tonne (est. of INR 4,573) due to weak pricing in its core markets of south India. ...
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