Buy JK Cement; target of Rs 1144: Axis Direct

Axis Direct is bullish on JK Cement has recommended buy rating on the stock with a target price of Rs 1144 in its research report dated 23 August 2017.

August 24, 2017 / 14:59 IST

26 Aug, 2025 12:21

Volume

Todays L/H

Axis Direct's research report onJK Cement

Grey cement blended volume increased 15% YoY despite company hiking grey cement prices since Apr’17. Average realization surged by Rs 320/t QoQ at Rs 4,060/ton due to strong cement prices in the North region. Average cost/ton increased by Rs130/ton due to high fuel and freight cost. Grey cement EBITDA/ton was Rs 690 (vs. Rs 500 in Q4FY17).

Outlook

We maintain our FY18E/19E EPS estimate at Rs 46/64. We retain our target price at Rs 1,144 (11% upside from CMP of Rs 1,033), based on 9x FY19E EV/EBITDA. Maintain BUY.

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first published: Aug 24, 2017 02:59 pm

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