Sell India Cements\, target price Rs 65: ICICI Securities

ICICI Securities has given a sell rating to India Cements with a target price of Rs 65. The share price moved up by 0.86 per cent from its previous close of Rs 116.40. The stock’s last traded price is Rs 117.10.

India Cements Ltd., incorporated in the year 1946, is a Small Cap company (having a market cap of Rs 3647.49 Crore) operating in Cement sector.

India Cements Ltd. key Products/Revenue Segments include Cement which contributed Rs 5175.29 Crore to Sales Value (96.90 % of Total Sales), Ready Mix Concrete which contributed Rs 92.86 Crore to Sales Value (1.73 % of Total Sales), Other Operating Revenue which contributed Rs 17.34 Crore to Sales Value (0.32 % of Total Sales), Power Generation which contributed Rs 16.89 Crore to Sales Value (0.31 % of Total Sales), Traded Goods which contributed Rs 14.54 Crore to Sales Value (0.27 % of Total Sales), Income From Construction Work which contributed Rs 9.97 Crore to Sales Value (0.18 % of Total Sales), Clinker which contributed Rs 6.46 Crore to Sales Value (0.12 % of Total Sales), Cement (White) which contributed Rs 5.89 Crore to Sales Value (0.11 % of Total Sales) and Thermal Power which contributed Rs 1.48 Crore to Sales Value (0.02 % of Total Sales)for the year ending 31-Mar-2018.

Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 763.46 Crore, down 35.10 % from last quarter Sales of Rs 1176.40 Crore and down -48.98 % from last year same quarter Sales of Rs 1496.37 Crore. The Company reported net profit after tax of Rs 19.74 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 28.3 per cent stake in the company as of June 30, 2020, while FIIs held 12.3 per cent, DIIs 3.2 per cent and public and others 56.2 per cent.