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    HomeNewsBusinessStocksBuy J K Cement; target of Rs 1322: Motilal Oswal

    Buy J K Cement; target of Rs 1322: Motilal Oswal

    Motilal Oswal is bullish on J K Cement has recommended buy rating on the stock with a target price of Rs 1322 in its research report dated May 16, 2017.

    June 08, 2017 / 19:03 IST
       
       
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      Motilal Oswal's research report onJ K Cement

      4QFY17 revenue increased 7.7% YoY to INR 10.2b (est. of INR 9.8b). Grey cement revenue rose 6% YoY to INR 6.9b (est. of INR 6.5b) due to higher realization in north operations. White cement revenue increased 10% YoY to INR 3.3b, led by growth of 5% YoY in volumes and 4% YoY in realizations.

      Outlook

      With lower immediate capex and FCFE of INR 4-5b over FY17-FY19, there remains visibility of deleveraging from FY17 peak of INR 31b. We maintain Buy with TP of INR 1,322 (14x FY19E white cement EBITDA and 10x FY19E grey cement EBITDA).

      For all recommendations, click hereDisclaimer: 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.

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      first published: May 18, 2017 03:38 pm

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