Sharekhan is bullish on JK Lakshmi Cement has recommended buy rating on the stock with a target price of Rs 372 in its research report dated August 07, 2020.
Sharekhan's research repor on JK Lakshmi Cement
Standalone revenues were in-line in Q1FY2021, while OPM and PAT lagged estimates, owing to lower realisation led by higher clinker sales and unfavourable geographical sales mix. Management expected to announce much-awaited brownfield expansions in Q3FY2021 which would provide next leg of growth. Company has slashed debt and improves its cash position significantly, which would help planned expansions..
Outlook
We retain a Buy rating with unchanged PT of Rs. 372 given an attractive valuation and likely earnings bounceback from FY2022.
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