HDFC Securities is bullish on JK Lakshmi Cement has recommended buy rating on the stock with a target price of Rs 435 in its research report dated November 07, 2020.
HDFC Securities' research report on JK Lakshmi Cement
During 2QFY21, JK Lakshmi Cement (JKLC) reported strong 16% volume growth, riding on strong regional demand. Along with lower opex, this drove standalone revenue/EBITDA/APAT to grow 12/26/76% to Rs 10.45/1.87/0.81bn respectively. Robust 2Q and working capital compression aided 33% net debt reduction vs Mar’20.
We maintain BUY rating on the stock with an SOTPbased target price of Rs 435/share. We like JKLC for its large exposure to the lucrative north/central markets and cost stabilisation in its east operations.
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