Shree Cement Q3 PAT seen up 108% at Rs 238cr, YoY

Shree Cements will announce its third quarter results today. According to CNBC-TV18's estimates, the company's Q3FY13 revenues are seen up 2 percent at Rs 1510 crore versus Rs 1477.8 crore, year-on-year.          

Its EBITDA is seen up 5 percent at Rs 390 crore versus Rs 373.1 crore and the EBITDA margin is seen at 25.8 percent versus 25.2 percent, Y-o-Y. The company's PAT is seen up 1.1 times at Rs 238 crore versus Rs 114.3 crore. Q3FY13 versus Q2FY13 (Q-o-Q) The company's revenues are seen up 5.7 percent at Rs 1510 crore versus Rs 1,428.1 crore.          Its EBITDA is seen up 4.9 percent at Rs 390 crore versus Rs 371.7 crore and the EBITDA margin is seen at 25.8 percent versus 26 percent. The company's PAT seen up 9.5 percent at Rs 238 crore versus Rs 217.4 crore.         Factors:

• Higher Cement Realizations will partially negate lower sales volumes:
• Cement volumes expected to decline 5 percent Y-o-Y ( up 9 percent Q-o-Q) to 3.25mt (including clinker)
• Realizations are expected to increase by 10 percent Y-o-Y (5 percent Q-o-Q)

PAT will surge:

• Due to low base effect
• Due to lower depreciation cost

Key issues to watch out

• Volume and pricing outlook for North India.
• Pet coke price trend and update on any forward agreements for merchant power
• Update on cement capacity addition and capex plans