Quarterly Results: Orient Cement Ltd
Bhagyashree Vivarekar / 09 Nov 2016
Orient Cement Ltd., is currently trading at Rs. 164.65, down by 5.7 points or 3.35% from its earlier closing of Rs. 170.35 on the BSE. The company has reported a net loss for the period of Rs 29 cr.
Technical View:
Orient Cement Ltd., is currently trading at Rs. 164.65, down by 5.7 points or 3.35% from its earlier closing of Rs. 170.35 on the BSE.
The scrip has touched a high and low of Rs. 168.8 and Rs. 143.1 respectively, after opening at 160. By far 145232(NSE+BSE) shares were traded on the counter; and the stock is currently trading above its 50 DMA.
Standalone Results Q2FY17:
Orient Cement’s Q2FY17 standalone numbers have come in as a mixed bag in comparison with Bloomberg estimates. Revenue for the period has come in 7.4% higher than the estimate of Rs 414 cr. However, EBITDA has come in 36% lesser than the estimate of Rs 26 cr and net loss for the period is 279.2% lesser than the estimated net loss of Rs 8 cr.
The quarter's net revenue has surged 11.4% yoy to Rs 445 cr.
Orient's EBITDA has dropped 56.7% yoy to Rs 17 cr triggered by EBITDA margin shrinking of 586 bps to 3.7%. This was the repurcurssion of 18.6% yoy increase in operating expenses.
The company has reported a net loss for the period of Rs 29 cr against a net profit of Rs 28 cr during the corresponding period of the previous year. This can be mainly attributed to weak operational performance and 666.3% yoy upsurge in finance costs.
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