Ramco cements number positively surprised us on profitability and on sales front on account better volumes posted by company and slight improvement in realizations. Net sales for company fell by 8% to 10293mn but it was better than our estimate of 9225mn. The company posted EBIDTA of 3016mn posting 15% fall and profit after tax of 1686 fall of 18% but better than our estimate of 1342mn. Higher costs affects profitability Increasing cost of raw material which are mainly in form of pet-coke, coal and diesel prices continue to affect profitability as these inputs account roughly 50% of total costs. The company has mentioned that benefits of low cost pet-coke inventory are already over and fuel cost should inch (up from 593/ton to...