Ramco Cements Posts Good Results
Ramco’s Q2 results were better than estimates, with EBITDA coming in at Rs.2.47 bn vs. market estimates of Rs.2.06 bn and OPM at 20.9% vs. market estimates of 18.2% on higher-than-estimated realization.
Volume grew 14.7 % YoY to 2.47 MT. Realization was down 3.5 % YoY. Lower realization and higher operating expenses led to a 667 bps YoY contraction in OPM to 20.9%.
Ramco Cements' is planning to increase grinding capacity by 3.1 MT and clinker capacity by 1.5 MT in the coming year. These capacities should help target sales volume growth in Andhra Pradesh (coastal districts), Odisha, Jharkhand, and West Bengal.
Volume grew 14.7 % YoY to 2.47 MT. Realization was down 3.5 % YoY. Lower realization and higher operating expenses led to a 667 bps YoY contraction in OPM to 20.9%.
Ramco Cements' is planning to increase grinding capacity by 3.1 MT and clinker capacity by 1.5 MT in the coming year. These capacities should help target sales volume growth in Andhra Pradesh (coastal districts), Odisha, Jharkhand, and West Bengal.
JSPL To Set Up Cement Plant
Jindal Steel and Power plans to set up a 2 MPTA cement plant close to its steel plant at Angul in Odisha.
The project is estimated to cost about Rs. 5 bn and will come up within an industrial park being promoted by the Navin Jindal-owned company in the area.
The company plans to use granulated slag, a by-product of the steel unit, as feed stock for the cement plant.
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