Anand Rathi is bullish on Heidelberg Cement has recommended buy rating on the stock with a target price of Rs 236 in its research report dated October 27, 2020.
Anand Rathi 's research report on Heidelberg Cement
With its greater focus on prices and to improve its premium positioning, Heidelberg’s volumes declined 2.3% y/y, leading to revenue falling 1.3% y/y. Higher realisations and cost optimisation, however, pushed up EBITDA/ton 6.4% y/y. The proposed loan to Zuari will generate higher other income and enable utilisation of MAT credit for the next 1.5-2 years. The net-debt-free balance sheet and negative working capital are positives, though we are concerned about slowing volume growth.
We retain our Buy, with a target of Rs236 (earlier Rs231)
For all recommendations report, 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.