Buy J K Cement; target of Rs 1277: Motilal Oswal

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Motilal Oswal's research report onJ K Cement

1QFY18 revenue increased 16.4% YoY to INR 10.4b (est. of INR 9.8b). Grey cement volumes increased 15% YoY on account of higher clinker exports to Nepal. Growth was higher in southern operations due to a favorable base. White cement volumes were flat YoY due to GST-led destocking, the impact of which was offset by higher wall putty volumes due to ramp-up of operations in Katni.

With lower immediate capex and annual FCFE of INR 3-4b over FY18-FY20, there remains visibility of deleveraging from the FY17 peak of INR 31b. We maintain Buy with a TP of INR 1,277 (12x FY20E white cement EV/EBITDA and 8x FY20E grey cement EV/EBITDA).

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.

Read More