Though the company belongs to cement sector.The main culprit for this dismal performance has been fall in realizations as well as rise in energy bill.Due to old plant, the company is incurring an annual expenses of Rs.100 crores, which is taking a tool on its profitability.
About The Financials
Prism Cement had posted c financial results for the first quarter ending September 08 with topline plummeting from Rs.193 crores to Rs.163 crores with EBIT falling to Rs.23.53 crores against Rs.67.76 crores in the corresponding quarter of the previous year. Expectedly PAT fell to Rs.15 crores against Rs.51.84 crores in the corresponding quarter of the previous year, which has resulted in an EPS of 50 paise only for the quarter against Re.1.74 of Q1 FY 08. On consolidated basis PAT is placed at Rs.13.17 crores translating into an EPS of 44 paise only.Though annual shutdown took away Rs.25.68 crores in the quarter the same was existing at Rs.19.22 crores in the corresponding quarter of the previous year.
About The Stock
Disclaimer : I do not have any personal holding in this stock.