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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
 
 
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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


Outlook


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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first published: Nov 3, 2021 11:32 am

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