ICICI Securities Ltd | Retail Equity Research Ambuja Cement's results were broadly above our expectations. Ambuja's Q2CY16 revenues increased 1.9% YoY (up 5.1% QoQ) to | 2,541.2 crore (vs. I-direct estimate of | 2,670.1 crore) led by 4.1% YoY increase in realisation to | 4,412 (due to sharp price recovery in northern region) while volumes declined 2.0% YoY to 5.76 MT EBITDA/tonne increased 62.1% YoY to | 1,009/tonne (vs. I-direct estimate of | 791/tonne) led by 18.3% YoY decline in power & fuel...