Buy JK Lakshmi Cement; target of Rs 143: Anand Rathi

Anand Rathi 's research report on JK Lakshmi Cement

A steep sequential recovery in J Kumar’s execution clearly indicates the returning pace of execution, but it still seems to have been constrained by its urban/city-centric portfolio, which suffered a more pronounced impact of Covid-related issues. Nevertheless, the gradual execution is an augury and raises hopes of better times. The OB provides ample assurance and the balance sheet is well-placed to support a ramp-up in scale of operations.

Outlook

The gradually improving operations and comforting valuations make us retain our Buy rating, with a higher TP of Rs143 (earlier Rs141).

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