Orient Cement Q2 Results Live : Orient Cement has declared its Q2 results on November 8, 2024, revealing a significant downturn in both revenue and profits. The company’s topline decreased by 24.5% year-over-year, and profits fell dramatically by 90.56%. Compared to the previous quarter, revenue declined by 21.87%, while profit decreased by 93.67%.
The company’s Selling, General, and Administrative (SG&A) expenses showed a slight improvement, declining by 15.63% quarter-on-quarter and 13.91% year-over-year. However, this reduction was overshadowed by the sharp decline in operating income, which was down by 91.1% quarter-on-quarter and 89.65% year-over-year.
Earnings per share (EPS) for Q2 stood at ₹0.11, marking a staggering decrease of 90.83% year-over-year. This disappointing performance has prompted mixed reactions from analysts, with 3 out of 7 covering analysts giving a Strong Sell rating, 1 analyst recommending a Sell, 1 advising Hold, 1 suggesting Buy, and 1 giving a Strong Buy rating.
Despite recent challenges, Orient Cement has shown resilience with a -2.06% return in the last week, a notable 57.25% return over the last 6 months, and a 35.64% year-to-date return. Currently, the company’s market capitalization stands at ₹6,977.83 Crore, with a 52-week high of ₹379 and a low of ₹182.
As of November 9, 2024, the consensus recommendation among analysts is to Sell, reflecting cautious sentiment regarding the company’s future performance amidst the stark decline in profitability and revenue.
