Sharekhan's research report on The Ramco Cements
In Q4FY2021, the company reported marginally lower-than-expected operational performance owing to clinker capacity constraints, while net earnings were lower on account of higher tax outgo. The commissioning of 3.75MT clinker capacities in FY2022 would ease clinker capacity constraints, aiding in capturing pent-up demand as COVID-led restrictions are reversed. The company would unveil the next round of capacity expansion plans, balancing leverage and growth opportunities. RamcoCement-3R-May24_2021.
Outlook
We maintain Buy The Ramco Cements Limited (Ramco) with a revised PT of Rs. 1,250, factoring upwardly revised estimates and strong earnings growth outlook.
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