ReutersRelated
ICICI Securities has buy call on India Ltd. with a target price of Rs 290. The current market price of Heidelberg Cement India Ltd. is Rs 255.85. Time period given by analyst is year when Heidelberg Cement India Ltd. price can reach defined target.
Heidelberg Cement India Ltd., incorporated in the year 1958, is a Mid Cap company (having a market cap of Rs 5774.10 Crore) operating in Cement sector.
Financials
For the quarter ended 31-03-2021, the company reported a Standalone Total Income of Rs 614.72 Crore, up 1.26 % from last quarter Total Income of Rs 607.05 Crore and up 16.69 % from last year same quarter Total Income of Rs 526.79 Crore. Company reported net profit after tax of Rs 139.99 Crore in latest quarter.
Investment Rationale
HEIM is a play on fast-growing, better- priced and highly consolidated Central India market, which could see further margin expansion. The brokerage broadly maintains FY22E-FY23E EBITDA. Given strong profitability and return ratios, it raises target multiple to 8x EV/E (earlier: 7x) and raise target price to Rs290/sh (earlier: Rs265) based on 8x FY23E EV/E.
Promoter/FII Holdings
Promoters held 69.4 per cent stake in the company as of March 31, 2021, while FIIs held 9.6 per cent, DIIs 7.3 per cent and public and others 13.7 per cent.
(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.)
Heidelberg Cement India Ltd., incorporated in the year 1958, is a Mid Cap company (having a market cap of Rs 5774.10 Crore) operating in Cement sector.
Financials
For the quarter ended 31-03-2021, the company reported a Standalone Total Income of Rs 614.72 Crore, up 1.26 % from last quarter Total Income of Rs 607.05 Crore and up 16.69 % from last year same quarter Total Income of Rs 526.79 Crore. Company reported net profit after tax of Rs 139.99 Crore in latest quarter.
Investment Rationale
HEIM is a play on fast-growing, better- priced and highly consolidated Central India market, which could see further margin expansion. The brokerage broadly maintains FY22E-FY23E EBITDA. Given strong profitability and return ratios, it raises target multiple to 8x EV/E (earlier: 7x) and raise target price to Rs290/sh (earlier: Rs265) based on 8x FY23E EV/E.
Promoter/FII Holdings
Promoters held 69.4 per cent stake in the company as of March 31, 2021, while FIIs held 9.6 per cent, DIIs 7.3 per cent and public and others 13.7 per cent.
(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.)
Read More News on
Download The Economic Times News App to get Daily Market Updates & Live Business News.
