Nuvoco Vistas enjoys decent fundamentals and long-term investors should keep the stock on the radar for gradual accumulation on any correction
PRO Only Highlights
– Quarterly performance largely backed by improved realisations
– Medium-term triggers China plus and protectionist measures for tyre industry
– Valuations not inexpensive; but improved medium-term outlook
The September-quarter earnings of cement manufacturer Nuvoco Vistas turned out to be rather subdued due to external factors. While demand conditions were primarily impacted by one-offs and some seasonal factors, margins also came in weak due to inflationary cost pressures. Quarterly result highlights The Q2 revenues of Nuvoco Vistas rose 13 percent year on year (YoY) to Rs 2,020 crore. Although the headline growth appears solid, the underlying numbers are strictly not comparable due to the inclusion of NVL’s financials, which…
