AMBUJA CEMENTS LTD - RSULTS FOR - Q3 CY 2012 ENDING SEP,2012 - NET SALES UP 20% & NPT UP 77% YoY - EXPECTS GOOD 4TH QTR ALSO

AMUBUJA CEMENTS LIMITED

QUARTERLY RESULTS

FOR Q3 CY 2012

ENDING SEP,2012

Ambuja cements Limited has produced satisfactory results in the Q/e Sep’ 2012 compared to Q/e Sep,2011, but on sequential basis, the performance is below par, compared to  Q/e June,2012.

Net Sales for Q3 CY 12 stands at Rs.2168.35 Cr; down by -15.5% compared to preceding quarter (Q2 CY12 : Rs.2565.95 Cr); and up by 20.12% compared to the corresponding Qtr of previous Year (Q2 CY 11 : Rs.1805.10 Cr).

Total Expenditure  for Q3 CY 13 stands at Rs.1790.58 Cr; down by -8.88% compared to preceding quarter (Q2 : Rs.1965.11 Cr); and up by 10.38% compared to the corresponding Qtr of previous Year (Q2 CY 11 : Rs.1622.14 Cr).

EBITDA  stands at Rs.522 cr for Q3 CY 12 against Rs.304 cr in corresponding Qtr of last year ( + 71.7% increase). Profit before Tax has increased from Rs.255 cr same qtr last year(Q2 CY11  to Rs.457 cr ( + 79.5%) in Q2 CY 12.

Profit before Interest, Dep. & Taxes  for Q3 CY 12 stands at Rs.377.77 Cr; down by -37.13 % compared to preceding quarter (Q2 : Rs.600.84 Cr); and up by 106.48% compared to the corresponding Qtr of previous Year (Q2 CY 11 : Rs.182.96 Cr).

Net Profit   for Q3 CY 12 stands at Rs.303.97 Cr; down by -35.17% compared to preceding quarter (Q2 : Rs.468.90 Cr); and up by an impressive 77.26% compared to the corresponding Qtr of previous Year (Q2 CY 11 : Rs.171.48 Cr).

Diluted EPS  for Q3 CY 12 stands at Rs.1.97 compared to Rs.3.04 in the Q1 CY 12; and Rs.1.12 in Q3 CY 11. Overall, the company has produced good results and the company also expects a GOOD FOURTH QUARTER ENDING Dec,2012, despite cost pressures.

CURRENT MP : RS.206.45

Production  Statistics

ACL	IN LAKHS OF TONNES
	Cement	Cement
	Production	Despatch
September
2012	15.58	15.54
2011	14.61	14.81
January To September
2012	163.83	163.76
2011	154.39	154.17

OUTLOOK (From company) :

Monsoon being over, revival of demand is expected. Impact of recent hike in diesel prices on distribution cost and freight on internal movement of clinker are expected to keep pressure on Margins. ACL would continue its thrust in improving productivity and operational efficiency to mitigate cost increase pressures.

The detailed analysis in Tabular form for 5 quarters is presented in the table below :

Quarterly Results - Table

AMBUJA CEMENTS	30-Sep-12	%DIF QoQ	30-Jun-12	%DIF YoY	30-Sep-11	31-Mar-12	31-Dec-11
Net Sales	216835	-15.5	256595	20.12	180510	263331	232911
Total Expenditure	179058	-8.88	196511	10.38	162214	200973	203186
Profit before Interest, Dep. & Taxes	37777	-37.13	60084	106.48	18296	62358	29725
Net Profit	30397	-35.17	46890	77.26	17148	31222	30240
Diluted EPS	1.97	-35.2	3.04	75.89	1.12	2.03	1.97
Changes in inventories of FGs, WIP,SIT	-10273	75.88	-5841	-1083.06	1045	-2042	18321
Materials consumed	71125	-8.06	77359	13.13	62871	81267	62387
Employee benefits expense	11512	-6.94	12371	11.54	10321	10303	12545
Depreciation	13730	13	12150	27.28	10787	12089	12380
Other expenses	92964	-7.47	100472	20.44	77190	99356	97553
Total expenses	179058	-8.88	196511	10.38	162214	200973	203186
Profit before tax	45747	-32.09	67361	79.51	25484	44235	35682
Tax Expenses	15350	-25.02	20471	84.14	8336	13013	5442
Net Profit	30397	-35.17	46890	77.26	17148	31222	30240
Face Value (Rs )	2	0	2	0	2	2	2
Paid-up Equity	30799	0.12	30763	0.48	30653	30701	30687
Basic EPS	1.97	-35.41	3.05	75.89	1.12	2.03	1.97
Diluted EPS	1.97	-35.2	3.04	75.89	1.12	2.03	1.97
Public holding (%)	46.9	-0.64	47.2	-2.29	48	47.08	47

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AMBUJA CEMENTS LTD = CY 2011, 2010,2009 RESULTS COMPARED = NET SALES INCREASE CONSISTENT = NET PROFITS FLAT

Ambuja Cements Limited

NSE Symbol        AMBUJACEM

Net Sales (On Consolidated Basis) stands at Rs.8531.23 cr in Calendar Year 2011(which is its accounting year) –against Rs.7390.21 Cr in CY 2010 (Up by       15.44%); and Rs.7076.87 Cr in CY 2009 (Up by 20.55%). The increase in Net sales is consistent.

Other Operating Income stands at Rs.88.41 cr in Calendar Year 2011-against Rs.127.34 Cr in CY 2010 (down by-30.57%); and Rs.104.61 Cr in CY 2009 (down by -15.49%).

Raw Materials   Consumption stands at Rs.2586.93 cr in Calendar Year 2011-against Rs.2293.62 Cr in CY 2010 (Up by 12.79%) and Rs.2387.18 Cr in CY 2009 (up by 8.37%). Raw Material Costs are increasing but less than proportionately compared to Net sales.

Total Expenditure stands at Rs.7070.98 Cr in CY 2011 – against Rs.5954.39 Cr in CY 2010 (Up 18.75%); and Rs. 5508.48 Cr in CY 2009 (Up 28.37%).

Profit from Operations stands at Rs.1548.66 Cr in CY 2011 – against Rs.1563.16  Cr in CY 2010 (down -0.93%); and Rs.1673 Cr in CY 2009 (down  -7.43%).

Other Income stands at Rs.230.31 Cr in CY 2011 – against Rs.120.23 Cr in CY 2010 (Up 91.56%); and Rs.151.20 Cr in CY 2009 (Up 52.32%).

Profit before tax, after considering Interest expense and exceptional items is Rs.1701.24 Cr in CY 2011 – against Rs.1661.23 Cr in CY 2010 (up 2.41%); and Rs.1801.77 Cr in CY 2009 ( down -5.58%).

Tax Expense stands at Rs.473.75 cr in CY 2011 – against Rs.398.26 Cr in CY 2010 (up 18.95%) – and Rs.584.93 Cr in CY 2009 (down -19.01%).

Net Profit stands at Rs.1227.49 cr in CY 2011 – against Rs.1262.97 Cr in CY 2010 (down -2.81%) – and Rs.  1216.84 Cr in CY 2009 (up 0.88%).

Consolidated NPT stands at Rs.1227.74 Cr in CY 2011 – against Rs.1262.97 Cr  in CY 2010 ( down -2.79%) – and Rs.1216.84 Cr in CY 2009 (Up 0.9%).

Paid-up Equity is Rs.306.87 Cr – in which public holding is 47%.

Reserves have increased to Rs.7725.69 Cr in CY 2011; against Rs.7019.15 Cr in CY 2010; and Rs.6162.92 Cr in CY 2009.

On a Face Value of Rs.2, the Basic EPS is Rs.8.02 in CY 2011; Rs.8.28 in CY 2010; and Rs.7.99 in CY 2009.

The Diluted EPS stands at Rs.7.99 in CY 2011; Rs.8.26 in CY 2010; and Rs.7.98 in CY 2009.

Current Market price is Rs.170.60. The 52 week high price is Rs.182 and Low Price is Rs. 11.60.

The Price Earning Ratio is 21.27.

From the announcements section, we can see that Ambuja cements is enhancing its capacity by acquisitions.

ANNOUNCEMENTS

BY COMPANY

09-02-2012          Ambuja Cements has recommended a final dividend on Equity Shares at the rate of Rs.1.80 per share. With the interim dividend of Rs.1.40 per share paid during the year, the total dividend for the Corporate Financial Year ended 2011 works out to Rs.3.20 per share. The Company in the previous year had paid dividend @ Rs.2.60 per share which included interim dividend Rs.1.30 per share.

09-02-2012          standalone Results for the year ended on 31-DEC-2011 as follows: Net Sales of Rs. 851452 lacs for year ending on 31-DEC-2011 against Rs. 739021 lacs for the year ending on 31-DEC-2010. Net Profit / (Loss) of Rs. 122886 lacs for the year ending on 31-DEC-2011 against Rs. 126361 lacs for the year ending on 31-DEC-2010.

09-02-2012          consolidated Results for the year ended on 31-DEC-2011 as follows: Net Sales of Rs. 853123 lacs for year ending on 31-DEC-2011 against Rs. 739021 lacs for the year ending on 31-DEC-2010. Net Profit / (Loss) of Rs. 122774 lacs for the year ending on 31-DEC-2011 against Rs. 126297 lacs for the year ending on 31-DEC-2010.

14-09-2011          Ambuja Cements Limited has informed regarding "Acquisition of controlling stake in Dirk India Pvt. Ltd".

07-06-2011          Ambuja Cements has acquired 85% equity shares of Dang Cement Industries Pvt. Ltd., Nepal for a consideration of Rs. 19.13 crores. With this acquisition, Dang Cement Industries Pvt. Ltd. has become a subsidiary of the Company. The Company is also in the process of acquiring further 5% shares for a consideration of Rs. 1.13 crores. Dang Cement Industries Pvt. Ltd is a company incorporated in Nepal and holds limestone mining lease in Nepal. At present the company is not carrying out any business activity.

CONSOLIDATED RESULTS TABLE

ambuja cements	CY2011	CY2010	%DIF1	CY2009	%DIF2
Net Sales	853123	739,021.00	15.44	707,687.00	20.55
Other Oprtng Income	8841	12,734.00	-30.57	10,461.00	-15.49
Increase in SIT / WIP	5702	-5,428.00	-205.05	4,947.00	15.26
Raw Materials	258693	229,362.00	12.79	238,718.00	8.37
Employees Cost	43585	34,367.00	26.82	27,284.00	59.75
Depreciation	44617	38,721.00	15.23	29,728.00	50.08
Other Expenditure	354501	298,417.00	18.79	250,171.00	41.7
Total Expenditure	707098	595,439.00	18.75	550,848.00	28.37
Profit from Operations	154866	156,316.00	-0.93	167,300.00	-7.43
Other Income	23031	12,023.00	91.56	15,120.00	52.32
Profit before Int& EI	177897	168,339.00	5.68	182,420.00	-2.48
Interest	5348	4,869.00	9.84	2,243.00	138.43
Profit after Int B/B EI	172549	163,470.00	5.55	180,177.00	-4.23
Exceptional items	2425	-2,653.00	-191.41	-
Profit before tax	170124	166,123.00	2.41	180,177.00	-5.58
Tax Expense	47375	39,826.00	18.95	58,493.00	-19.01
Net Profit	122749	126,297.00	-2.81	121,684.00	0.88
Consolidated NPT	122774	126,297.00	-2.79	121,684.00	0.9
Face Value (in Rs.)	2	2	0.00	2	0
Paid-up Equity	30687	30,597.00	0.29	30,474.00	0.7
Reserves	772569	701,915.00	10.07	616,292.00	25.36
Basic EPS(Rs.)	8.02	8.28	-3.14	7.99	0.38
Diluted EPS(Rs.)	7.99	8.26	-3.27	7.98	0.13
Public Holding (%)	47	53	-11.32	52	-9.62
Promoter group	50	46	8.70	46	8.7

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