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    HomeNewsBusinessStocksBuy JK Cement; target of Rs 1040: Centrum

    Buy JK Cement; target of Rs 1040: Centrum

    Centrum is bullish on JK Cement has recommended buy rating on the stock with a target price of Rs 1040 in its research report dated August 01, 2018.

    Broker Research
    September 18, 2018 / 16:50 IST
       
       
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      Centrum's research report onJK Cement

      During Q1FY19, JKCE reported strong 9% volume growth across both grey and white/putty segments. However, weak pricing in grey cement (in JKCE markets) alongwith hardening input cost inflation dragged down total EBITDA, even though white/putty profitability firmed up on strong demand. Thus, EBIDTA fell 24% YoY and high capital charges led to 38% PAT decline.

      Outlook

      We cut TP to Rs 1040 (10x its FY20 consolidated EBITDA) on lower earnings estimate and on expectations of front ending of capex in FY20.  Key downside risks: lower-than-expected demand offtake, further spike in petcoke and diesel prices.

      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: Aug 6, 2018 06:09 pm

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