Orient Cement's top-line de-grew by ~13% Y-o-Y to `6545mn primarily on the back of decline in sales volume. Sales volume plunged 14.2% YoY to 1.57mn MT due to combination of weak demand in South India and nationwide shutdown (led by Covid-19 pandemic) in last week of March 2020. However, realisations were up marginally by 1-2% YoY to `4169/MT on account of higher sales from higher price markets. EBITDA in Q4FY20 stood at `1247mn down 18.5% Y-o-Y on the back of sales decline however it inched higher 127% QoQ primarily on the back of lower raw material costs which plunged 26% QoQ to `468mn in Q4FY20. Further higher realization and lower...
EBITDA in Q4FY20 stood at `225mn up ~13.4% Y-o-Y on the back of lower raw material costs and lower labour charges. Raw material costs and labour charges plunged 16%YoY and 11% YoY to `553mn and `80mn respectively in the mentioned period. Company's EBITDA margins were up at 17.1% from 14.2% in Q4FY19. Company's PAT plunged 12.9% Y-o-Y to `116mn in Q4FY20 on account of higher...
Rate Cut MPC advanced its meeting and reduced repo rate by 40 bps to 4.0%. MPC unanimously voted for sizeable reduction in the repo rate, but some differences in the quantum of reduction. MPC decided to continue with accommodative stance as long it is necessary to revive growth and mitigate the impact of Covid-19 on the economy, while ensuring that inflation remains within the target. The Monetary Policy Committee (MPC) voted in ratio of 5-1 in favor of rate cut. In the Mar'20 policy review members had voted in ratio of 4-2 in favor of rate cut....
Shree Cement's top-line de-grew by 2% Y-o-Y to `32,175 mn primarily on account of drop in sales volume partially impacted by Covid-19 pandemic, however robust pricing in its key markets (northern and central markets) controlled the top-line damage to certain extent. EBITDA in Q4FY20 stood at `10,789mn up ~27.3%Y-o-Y on the back of falling energy costs and lower raw material costs. Energy costs and Raw material costs plunged 19% YoY and 27% YoY to `6,217mn and `1,816mn respectively in the mentioned period. Company's EBITDA margins were up at 33.5% from 25.8% in Q4FY19 and 29.8% in Q3FY20. Company's PAT rose 83.3% Y-o-Y to `5882mn in Q4FY20 on account of higher other...
ACC Ltd reported de-growth of 11% YoY in top-line to`35,017mn on account of fall in sales volumes to 6.6mn MT (down by 12% YoY). Realisations remained flat YoY as cement prices were steady across its key operating markets. EBITDA in Q1CY20 stood at `5,865mn up ~10%YoY with corresponding EBITDA margins at 16.7% (up 318 bps YoY and 343 bps QoQ). Increase in EBITDA was reported due to lower raw material costs and power and fuel costs. During the quarter, the company also commissioned two new plants of RMC (Ready Mix concrete) to strengthen its footprint in the building materials industry....
Gross margin expanded by ~138 bps to 52.43% Y-o-Y on account of benign commodity prices. EBITDA decreased by 11% Y-o-Y to `2,065 crs in Q4FY20 led by higher ad spends, partly offset by lower staff costs and other expenses. Reported EBITDA margin stood at 22.9% as opposed to 23.9% in Q4FY19, contracted by 40 bps (160bps...
Axis Bank reported steady set of numbers for the March quarter with bank's preprovisioning operating profit growing 17% YoY led by NII growth of 19% YoY. Deposit book remain resilient and grew 17% YoY with CASA ratio at 39%. Loan book grew 15% driven mainly by retail that grew by 24%. It saw improvement in asset quality with GNPA at 4.86% vs. 5% QoQ. It increase its provisioning coverage ratio from 60% to 69% QoQ...
IndusInd Bank saw strong operational performance for the March quarter with revenue growing 32% driven by NII growth of 45% and fee income growth of 14%. It saw NIM improvement of 10 bps QoQ driven by fall in cost of deposit. It saw improvement in its cost to income ratio which resulted in strong operating growth of 38%. Loan book grew by 11%...
HDFC Bank reported strong set of numbers on all parameters despite Covid-19 induced lockdown in late March. It grew its profit by 17.72% led by strong loan growth of 21% YoY, low cost of funds and lower tax rate. It saw a deposit growth of 24% YoY with CASA ratio at 42% a jump of 270 bps as compared to last quarter. Margins expanded sequentially as well as YoY to 4.3% despite having higher liquidity coverage ratio at 132%. Asset quality saw improvement with GNPA falling 16 bps sequentially to 1.26%...
RBI has decided to conduct TLTRO 2.0 for an aggregate amount of `50,000Cr, to begin with, in tranches of appropriate size. Funds availed under TLTRO 2.0 should be invested in investment grade bonds, NCDs and commercial papers, with at least 50% of the total amount availed going to small and mid-sized NBFCs and MFI. Investments under this category will be considered as HTM upto 25% in excess of HTM limit. The reason for TLTRO 2.0 has been because the deployment of TLTRO 1.0 has largely been to bonds issued by public sector...
