In an interview to CNBC-TV18, Mangesh Bhadang, Cement Research Analyst at Quant Broking, said the Q1 was a disappointment on the EBITDA front, but volumes were surprisingly high, which was a positive.
In an interview to CNBC-TV18, Mangesh Bhadang, Cement Research Analyst at Quant Broking, said the Q1 was a disappointment on the EBITDA front, but volumes were surprisingly high, which was a positive.
Bhadang feels the management commentary on H2FY business prospects are encouraging and expects a 9 percent volume growth for Ultratech for FY15.
Below is the transcript of Mangesh Bhadang's interview to CNBC-TV18's Ekta Batra and Anuj Singhal
Ekta: Can you tell us what your EBITDA estimate for the remaining part of FY15 would be considering that Q1 was a disappointment?
A: Q1 was a disappointment on the EBITDA front but if you look at the positive side the volumes were surprising high. So we have had almost 18 percent growth in volumes which are extremely high and the numbers on bottom-line were better than what we were expecting.
Secondly this quarter they have done around Rs 846 as EBITA per tonne compared to what we were expecting. So there is concern because your realizations have declined by 3.5 percent year-on-year but on a full year basis they will be able to do above Rs 900 EBITA per tonne which should be decent given the scenario.
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