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HomeNewsBusinessStocksBuy Dalmia Bharat; target of Rs 3420: JM Financial

Buy Dalmia Bharat; target of Rs 3420: JM Financial

JM Financial is bullish on Dalmia Bharat has recommended buy rating on the stock with a target price of Rs 3420 in its research report dated May 21, 2018.

May 28, 2018 / 17:56 IST
     
     
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    JM Financial's research report on Dalmia Bharat

    Dalmia Bharat (DBEL) reported revenue growth of 21% YoY in 4QFY18, led by volume growth (14% YoY) on rising demand in key markets - East (+17% YoY), Northeast (+14% YoY), South (+14% YoY) and Maharashtra (+14% YoY). Realisations declined marginally on a sequential basis and was 3% higher YoY. EBITDA/t at INR1,137/t declined 6% YoY as cost escalations more than offset the realisations improvement.

    Outlook

    DBEL is setting up the capacity at a cost of USD70/t, expected to be completed in 30 months. We value DBEL’s existing assets at 12x EVE additionally incorporating INR400 on expansion potential; TP is INR 3,420 (Mar’19). Maintain BUY.

    For all recommendations report, click here

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    Broker Research
    first published: May 28, 2018 05:56 pm

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