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Madras Cements: Good show

Jan 30, 2003

Madras Cements, the southern cement major, has announced a robust 22% YoY growth in its bottomline for 3QFY03. Topline however has declined by a considerable 9% YoY in the December quarter. The company has been able to improve the operating margins despite a weak cement prices scenario. Though the performance of Madras Cements on the operational front has been good the growth in bottomline has been mainly due to a 78% rise in other income.

(Rs m) 3QFY02 3QFY03 Change 9mFY02 9mFY03 Change
Net Sales 1,515 1,377 -9.1% 5,461 4,576 -16.2%
Other Income 7 13 78% 22 39 75%
Expenditure 1,174 1,055 -10.1% 4,099 3,525 -14.0%
Operating Profit (EBDIT) 340 322 -5.6% 1,361 1,051 -22.8%
Operating Profit Margin (%) 22.5% 23.4%   24.9% 23.0%  
Interest 195 160 -18.1% 594 496 -16.6%
Depreciation 141 160 13.7% 463 481 4.0%
Profit before Tax 12 15 22.1% 327 113 -65.5%
Extraordinary items - -   - -  
Tax - -   50 -  
Profit after Tax/(Loss) 12 15 22.1% 277 112.9 -59.3%
Net profit margin (%) 0.8% 1.1%   5.1% 2.5%  
No. of Shares 1.2 1.2   1.2 1.2  
Diluted Earnings per share* 40.7 49.7   307.2 125.1  
P/E Ratio         28.8  
(* annualised)            

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Sep 30, 2020 (Close)

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