Anand Rathi 's research report on Deccan Cements
Against the backdrop of the lockdown, anaemic demand in Telangana/ AP and an exceptional `96m provision, Deccan Cements reported 20%/ 60% revenue/EBITDA decline and a `30bn loss. Also, the start of the WHRS was delayed by ~6 months due to no inter-regional movement. Demand and prices are expected to continue under pressure with the monsoon. With no major capex in the works, we expect a net debt-free company.
Outlook
We retain a Buy recommendation on the stock, at a higher target of `348 (earlier `289).
For all recommendations report, click here
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