Sagar Cements slips after weak production, sales numbers

Sagar Cements fell 1.7% to Rs 548.95 after the company disclosed production and despatch numbers for December 2019.

On a consolidated basis, production/purchase of cement fell 7.56% to 300,138 in December 2019 over December 2018. Cement sales declined 4.33% on a year-on-year (YoY) basis to 312,132 MT in December 2019.

On a standalone basis, production/purchase of cement fell 3.29% to 219,776 on a yearly basis. Cement sales declined 2.31% to 232,556 MT YoY. The announcement was made after market hours on Monday.

Sagar Cements is engaged in manufacturing clinker and ordinary portland cement (OPC). On consolidated basis, the company reported a net profit of Rs 4.94 crore in Q2 September 2019 as against a net loss of Rs 8.01 crore in Q2 September 2018. Net sales rose 2.9% to Rs 265.28 crore on YoY basis.

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