What is your take on the sharp profit growth shown by Ambuja Cements?

Yes, Ambuja Cements did surprise the street with net profits at Rs1,048 crore against consensus estimates of Rs650 crore for Q1FY23. Revenues also beat street estimates at Rs3,994 crore. EBITDA was just 1.1% higher at Rs685 crore while EBITDA margins were 16 bps lower at 17.14% in Q1FY23. Like other cement players, Ambuja Cements also faced pressure on its margins due to higher fuel and freight costs. However, these risks were better managed in the quarter.