Orient Cements numbers beat estimates (EBITDA/T: Rs 349, 75.3% YoY, 2.6x QoQ). Pricing improvement (net plant realisations up 6.9% QoQ or Rs 175/t) and reversion of P&F cost (-11.1% QoQ) from abnormal highs in 2QFY7 contributed to EBITDA/t of Rs 349 (75.3% YoY, 2.5x QoQ). Volume growth (19.6% YoY) was driven by rampup of Chittapur ops (utilization at 55%), even as utlisations at the old operations declined to 67%.