Sagar Cements' share price touches 52 week high on production & sales data

Sagar Cements (SCL) declared its production and sales data for month of March on April 7. The company’s cement production increased by 42 per cent to 2 lakh MTS in March 2016 as compared to same month in previous fiscal year. Its subsidiary BMM cements production posted 45470 MTS in March 2016 on a yearly basis.

During the month of March, Telangana and Andhra Pradesh states witnessed more than double sales about 52101 MTS and 59830 MTS respectively compared to other states. Meanwhile, its Karnataka, Tamilnadu, Maharashtra and Orrisa sales declined by 47 per cent; 36 per cent; 6 per cent; and 18 per cent, respectively in March 2016 on a yearly basis.

On year to date, SCL’s cement production and sales stood at 16.54 lakh MTS with 7 per cent growth in FY16 as compared to previous financial year. BMM cement’s production and sales boosted almost three times to 4.47 lakh MTS in FY16 on a yearly basis.

On geographical segment front, SCL’s Karnataka state sales declined by 26 per cent to 174056 MTS in FY16 on a yearly basis. The company’s sales for the states of Andhra Pradesh and Telangana increased by 26 per cent and 5 per cent in FY16 on a yearly basis. Its sales in the states of Tamil Nadu and Orissa also rose by 11 per cent and 32 per cent in FY16 as compared to previous fiscal year. Sales of SCL’s subsidiary named BMM Cements in states such as Andhra Pradesh, Karnataka and Tamil Nadu stand at 74748 MTS; 168476 MTS and 138102 MTS respectively in FY16.

The share price of SCL increased by 14.73 per cent on bourses in early trades; and touched a 52-week high at Rs 507 on an intraday basis. The company’s share price is trading at Rs 495.5 on an intraday basis.

SCL manufactures various cement products, such as ordinary Portland Cement of 53 grade; 43 grade; Portland Pozzalona Cement; and Sulfate Resistant Cement. The company sells products under the brand name Sagar. The applications of these products include reinforced cement concrete works; precast concrete items, such as paving blocks and tiles building blocks; pre-stressed concrete components; runways; concrete roads and bridges; general civil engineering construction work; asbestos products, such as sheets and pipes; and non-structural works, such as plastering and flooring. SCL’s plant is located in Mattampally, Nalgonda District, Andhra Pradesh.