Ambuja Cements
The company has a 31st Dec year ending and accordingly, for the fourth quarter ended 31st Dec 2013, the company had a dismal set of numbers. It posted a 5% (YoY) decline in net sales at Rs.2191 crore and yet it could end the quarter with a 49% jump in net profit at Rs.316 crore. This feat was possible due to a 2% drop in operating costs, 29% decline in interest outgo but more than anything else, a tax write back of Rs.61 crore. But for this, the bottomline would have come in much lower.
Its EBITDA was down 31% at Rs.307 crore and margins have come off sharply from 19.41% to 14.02%. PBT was down 22% at Rs.255 crore. The company has deposited 10% of the penalty slapped by CCI of Rs.1164 crore but has stated like all companies that the matter would get resolved. The company has stated that the outlook ahead remains challenging due to poor macro economic conditions and poor demand offtake. With elections round the corner, nothing major is expected. The company ended CY13 with a consolidated net profit at Rs.1278 crore, down 1%.