Orient Cement has posted a good set of earnings along expected lines. In an interview to CNBC-TV18, Deepak Khetrapal, MD & CEO of the company spoke about the results and gave his outlook for the future.
The company managed to do clock volumes of 1.7 million tonnes in Q4FY17, said Deepak Khetrapal, MD & CEO, Orient Cement.
Deepak Khetrapal, MD & CEO of Orient Cement said at the EBITDA level it has been a poor performance this last quarter.
Orient Cement is set to acquire 74 percent in Bhilai Cement from JP Associates. The enterprise value is Rs 1450 crore and it works out to USD 110 a tonne.
Cement realisations have fallen to Rs 3,200 per tonne in Q4FY16 from Rs 4000 per tonne earlier, said Deepak Khetrapal, MD & CEO of Orient Cement
Orient Cement reported a weak set of quarterly earnings. The company saw weakness in realizations, with an 11 percent year-on-year fall in prices, said Deepak Khetrapal, MD and CEO of the company.
The company reported a 20 percent fall in net profit at Rs 27.89 crore for the June quarter on account of lesser realisation in cement prices due to a dip in demand.
The company expects a revenue growth of Rs 1,750 crore by FY15 end.
Deepak Khetrapal, managing director, Orient Cement says the company has seen good demand in the past few days owing to late rains and there has been a marginal softening of prices- Rs 10 per bag.