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    HomeNewsBusinessStocksBuy J K Cement; target of Rs 2075: Motilal Oswal

    Buy J K Cement; target of Rs 2075: Motilal Oswal

    Motilal Oswal is bullish on J K Cement recommended buy rating on the stock with a target price of Rs 2075 in its research report dated November 12, 2020.

    Broker Research
    November 13, 2020 / 15:11 IST
       
       
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      Motilal Oswal 's research report on J K Cement

      JK Cement (JKCE) continued to gain market share in 2QFY21, with volume growing 26% YoY, led by ~40% capacity expansion. EBITDA grew 62% YoY to INR4.1b and was the highest ever, supported by lower cost. This in turn led to the highest ever EBITDA margin of INR1461/t. - We raise our FY21E EBITDA by 16%, factoring in lower cost and target price by 15% to INR2,075/share. We reiterate our Buy rating on a 26% EPS CAGR over FY20–22E, driven by capacity-led volume growth and better margin.

      Outlook

      Our TP of INR2,075 is based on FY22E EV/EBITDA of 12x for the White Cement business and 9x for the Grey Cement business. Maintain Buy.

      For all recommendations report, 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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      Broker Research
      first published: Nov 13, 2020 03:11 pm

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