While ACC reported a net profit fall of 7 percent on account of higher total expenses, Ambuja Cements not only posted a net profit of 26 percent but also beat street estimates with a wider margin for the quarter ended June.
Analyst Murtuza Arsiwalla of Kotak Institutional Equities believes the big positive for the cement players ACC and Ambuja was the higher sales volumes.
While ACC reported a net profit fall of 7 percent on account of higher total expenses Ambuja Cements not only posted a net profit of 26 percent but also beat street estimates with a wider margin for the quarter ended June.
Arsiwalla expects another 10-15 percent growth in EBITDA margins of Ambuja and prefers the stock of the company over ACC.
He expects Ambuja to deliver higher profitability than ACC going ahead.
Arsiwalla also expects midcap cement companies like Heidelberg and JK Lakshmi Cement to deliver good set of Q1 earnings.
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