Deccan Cement released their q2 results today. A great set of numbers and puts the company firmly on track to where we want to see it in 2018.
Salient updates are ( all numbers being compared on a y-o-y basis )
- sales up from 109cr to 153 cr , up 40%
- EBITDA up from 16.95 cr to 34.84cr , up 105%
- EBITDA margins up from 15.55% to 22.77% , up by 722 bps
- PAT at 15.43cr compared to 5.43cr , up by 184%
- finance costs have dropped from 6.77cr to 3.85cr
- LT borrowing down by 20 cr in H1
- Q2 eps is 22
- H1 eps is 41
- promoters pledge continues to be zero
The company continues to ignore investors clamouring for a bonus/stock split…which in my view is the right thing to do. Equity is still only 7 cr. Its still 10 paid up.
With the best quarters of the industry yet to come, company on track for a great year ahead.
CMP when posted : 500/-
Mcap when posted : 350 cr
Disclosure : own the stock , currently 16% of portfolio. Will need to trim position if the stock rises substantially from here to maintain portfolio balance
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