Anand Rathi is bullish on J K Cements has recommended buy rating on the stock with a target price of Rs 1534 in its research report dated June 21, 2020.
Anand Rathi 's research report on J K Cements
On higher realisations and cost savings in Q4, J K Cements’ EBITDA rose 24% y/y, though revenue dipped 1% y/y on lower volumes. The company said all capex would begin with a delay of 3-4 months and it would focus on cost optimisation and conserving cash. We expect the ongoing expansion to keep leverage high; however, the ramp-up of the new capacities would help restrict volumes falling y/y in FY21.
We retain our Buy rating, with a higher target of `1,534 (earlier `1,287).
For all recommendations report, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.