Buy Mangalam Cement; target of Rs 425: ICICI Direct

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

ICICI Direct's research report on Mangalam Cement

The company sells 95% of its cement production in the north while the remaining volume is sold in the central region. The northern region witnessed robust volume growth led by an increase in infrastructure spend by the government (especially road sector) helping the company to maintain healthy utilisation.

Outlook

At the CMP of Rs 349, the stock is trading at an attractive valuation of 6.0x FY19E EV/EBITDA and an EV/tonne of US$46. Hence, we maintain BUY recommendation with a revised target price of Rs 425/share (i.e. at 7.0x FY19E EV/EBITDA and EV/tonne of US$55).

For all recommendations, click here

Disclaimer: 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.

Read More