Analyst Meet / AGM 01-Aug-18
Conference Call
Star Cement
Expects 10% volume growth in Q2FY19 and 8-10% growth for FY19
Star Cement has conducted a conference call on 27th July 2018 to discuss the financial performance for the first quarter ended June 2018 and way forward. Mr. Sanjay Kumar Gupta- Chief Executive Officer and Mr. Manoj Agarwal- Chief Financial Officer addressed the conference call.
Highlights of the Concall
The company has posted 17% drop in net profit to Rs.91.51 crore despite 15% jump in net sales to Rs 518.24 crore for quarter ended June 2018. The Company Cement/Clinker sales volume stood at 0.71mt/0.09mt against 0.62mt/0.05mt in Q1FY18. Cement volume in North East stood at 0.51mt against 0.44mt in Q1FY18. Clinker production stood at 0.59mt against 0.61mt in Q1FY18. OPC:PPC:PSC mix stood at 80%:18%:2%.
The Company expects Rs 430 crore GST subsidies in FY19/20. It expects to receive Rs150 crore by end-Sep or Dec'18 and the balance the next year. The Company expects to receive subsidy up to 2023 for its 2mt plant and up to 2027 for its 1.8mt plant.
The company expects commissioning of its Silligudi plant in West Bengal by Dec'2020. Capex for the same is expected at Rs 200-250 crore. Its clinker capacity in the north-east is being de-bottlenecked, increasing capacity to 3mt (from 2.6mt), expected to be complete by Q2FY19.
The company expects capex of Rs 450 crore for FY19 and FY20, where Rs 150-200 crore is expected to be spent in FY19 and balance in FY20.
The Company expects 10% volume growth in coming quarter and ~8-10% growth for FY19. Road and Hydel Power projects, Bharatmala project (some projects have been announced in Manipur), Affordable Housing projects and pick-up in Rural Housing should help to improve demand going forward.
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