Anand Rathi is bullish on JK Lakshmi Cement has recommended buy rating on the stock with a target price of Rs 370 in its research report dated August 11, 2020.
Anand Rathi 's research report on JK Lakshmi Cement
The lockdown hit JK Lakshmi’s Q1 performance. Its revenue/ EBITDA/PAT fell 21%/15.6%/36%. Management’s focus on de-levering continues; it is keeping on hold its expansion in the North. The East and West continue to suffer from cities being locked down; pockets in the North are also locked down. The migrant labour issue resolution, firm prices, rising institutional demand, fixed-cost savings and the 10MW WHRS at Sirohi will help its performance.
We retain our Buy call, with a `370 target (`325 earlier).
For all recommendations report, click here
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