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.
For all recommendations, click here Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
