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    Ambuja Cements: September quarter results in line, outlook muted

    Sachin Pal
    October 21, 2019 / 08:22 AM IST
    Ambuja Cements: September quarter results in line, outlook muted

    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 September quarter results of Ambuja Cements (CMP: Rs 208; Market Cap: Rs 41,232 crore) were in line with expectations. Revenues for India’s third largest cement manufacturer changed little from a year ago, but profitability was strong as operating margins expanded. Quarter result highlights Ambuja’s reported revenues of Rs 2,626 crore in Q3 CY19 were slightly higher compared to last year. Revenue growth was led by higher realisations as cement volumes shrank for the second successive quarter. Volumes declined 4 percent...

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