HDFC Securities is bullish on Dalmia Bharat has recommended buy rating on the stock with a target price of Rs 1005 in its research report dated August 08, 2020.
HDFC Securities' research report on Dalmia Bharat
Dalmia Bharat’s consolidated revenue fell 19% YoY to Rs 19.74bn on COVID-led sales decline (still gained market share). Robust pricing and strong cost control, however, moderated EBITDA fall to 8% at Rs 6.14bn. Despite lower EBITDA, APAT rose 30% to Rs 1.90bn on lower capital charges and higher other income. We remain bullish on Dalmia for its robust distribution and cost controls, and healthy balance sheet despite ongoing expansions.
Outlook
We maintain BUY with a revised target price of Rs 1,005.
For all recommendations report, click here
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