HDFC Securities is bullish on Lakshmi Cement has recommended buy rating on the stock with a target price of Rs 385 in its research report dated August 08, 2020.
HDFC Securities' research report on Lakshmi Cement
JK Lakshmi Cement’s (JKLC) standalone revenue/EBITDA/APAT fell 21/16/26% YoY to Rs 8.25/1.43/0.44bn respectively, due to lower sales. A healthy realisation and cost controls led to stable unitary EBITDA (+3% YoY to Rs 752/MT). We estimate demand recovery and benign input costs in subsequent quarters to drive 6% EBITDA CAGR during FY20-23E. JKLC expects to kick-start growth capex FY22E onwards in the northern market.
Outlook
We maintain estimates and BUY rating on the stock with a TP of Rs 385/share.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Read More