Buy JK Lakshmi Cement; target of Rs 785: ICICI Direct
ICICI Direct is bullish on JK Lakshmi Cement has recommended buy rating on the stock with a target price of Rs 785 in its research report dated November 02, 2021.
November 03, 2021 / 11:32 AM IST
ICICI Direct's research report on JK Lakshmi Cement
JK Lakshmi mainly caters to north, west & eastern markets with total capacity of 13.3 MT (including subsidiary). It has integrated units at Sirohi, Udaipur (Rajasthan), and Durg (Chhattisgarh) while grinding units at Jhajjar (Haryana), Cuttack (Odisha), Kalol and Surat (Gujarat). It also has 105 MW power plant (74 MW CPP, 21 MW WHRS, and 10 MW solar) that fulfils 75% of its total power requirements The company is now adding 2.5 MT cement capacity (1.5 MT clinker) through its subsidiary unit UCWL at cost of Rs 1400 crore
We remain positive on the company and maintain BUY rating We value company at Rs 785 i.e.10x FY23E EV/EBITDA
For all recommendations report, click here
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