Buy Dalmia Bharat; target of Rs 2146: Axis Direct

Axis Direct is bullish on Dalmia Bharat has recommended buy rating on the stock with a target price of Rs 2146 in its research report dated February 10, 2017.

February 20, 2017 / 15:38 IST

26 Aug, 2025 12:21

Volume

Todays L/H

Axis Direct's research report on Dalmia Bharat

Dalmia Bharat’s Q3FY17 consolidated EBITDA at Rs 4.2 bn was above consensus and our estimates. The beat was largely due to higher volumes. Cement volume was 3.6 mnt, up 20% YoY vs. street and our expectation of 8% rise. This was due to strong cement demand in South region during the quarter.

Outlook

We revise our EPS estimates for FY17/FY18 to Rs 30/76 (Rs 37/68 earlier) due higher volume growth assumption for FY18. Maintain BUY with a revised target price of Rs 2,146 (earlier Rs 1,828) at FY18 EV/EBITDA of 12x.

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first published: Feb 20, 2017 03:38 pm

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