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Ambuja Cements Q1CY20: Solid balance sheet provides comfort

April 28, 2020 / 01:25 PM IST
Ambuja Cements Q1CY20: Solid balance sheet provides comfort

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

The March quarter results of Ambuja Cements (CMP: Rs 173, Mcap: Rs 34,252 crore), the third largest cement manufacturer in India, turned out to be robust, with outperformance on the margins front driving operating profits. The overall financial performance reflected the execution capabilities of the management in a tough business environment. Its  cash reserve position provides much needed cushion and capital flexibility to navigate through the current crisis. Quarterly result highlights Ambuja Cements’ revenues declined 3 percent to Rs 2,760 crore...

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