Moneycontrol
Jun 15, 2017 03:16 PM IST | Source: Moneycontrol.com

Buy Sanghi Industries; target of Rs 115: KR Choksey

KR Choksey is bullish on Sanghi Industries has recommended buy rating on the stock with a target price of Rs 115 in its research report dated June 12, 2017.

Buy Sanghi Industries; target of Rs 115: KR Choksey

KR Choksey's research report on Sanghi Industries


Sanghi Industries Ltd (SNGI), a flagship company of The Ravi Sanghi Group, possesses one of the largest integrated single stream cement plant with a clinker capacity of 3.3 MTPA, grinding capacity of 4.1 MTPA and a captive power plant (CPP) of 63 MW at Kutch. The company is one of the lowest cost producer of cement on account of proximity to limestone mines, lignite and fly ash sources coupled with power sourcing through CPP.


Outlook


We initiate coverage on Sanghi Industries Ltd with a “BUY” rating and value the company at an EV/ton of $90 on FY19E and arrive at a target price of INR 115/share translating into an upside of 40.24% from CMP of INR 82/share.


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