Jun 09, 2017 07:58 AM IST | Source:

Buy Shree Cements; target of Rs 21140: Edelweiss

Edelweiss is bullish on Shree Cements has recommended buy rating on the stock with a target price of Rs 21140 in its research report dated May 16, 2017.

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Edelweiss' research report on Shree Cements

Shree Cement’s (SRCM) Q4FY17 numbers may appear to be disappointing especially with freight cost surging which weighed on EBITDA/t. Freight & forward costs/t jumped 32% YoY due to expanding Eastern operations, longer lead-distance due to temporary plant shut down in Bihar, lower ex-factory sales and rising diesel costs.


However, the stock price may witness some pressure in near term, but we remain convinced about SRCM’s cash generating abilities. Also, on P/CF basis, the implied multiple of 21x seems reasonable versus large peers. Maintain ‘BUY’ with a target price of INR 21,140.

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