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Buy Dalmia Bharat: target of Rs 2410: Sharekhan

Sharekhan is bullish on Dalmia Bharat has recommended buy rating on the stock with a target price of Rs 2410 in its research report dated July 28, 2021.

July 29, 2021 / 04:51 PM IST
 
 
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Sharekhan's research report on Dalmia Bharat


In Q1FY2022, revenues and net profit were lower than expected while operational profitability in terms of EBITDA/tonne largely remained in-line. Dalmia announced a capital allocation plan over the next decade addressing medium and longer-term growth plans. Cement capacity to grow at 14-15% CAGR maintaining Net debt/EBITDA below 2x. Transparency, corporate governance, treasury allocation, non-core asset divestments, green fuel, shareholder returns are key outcomes of the plan.


Outlook


We maintain a Buy on stock with a revised PT of Rs. 2,410, as we see further upside considering its strong earnings growth outlook over FY2021-FY2024E.


For all recommendations report, click here

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first published: Jul 29, 2021 04:50 pm
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