Anand Rathi's research report on Orient Cement
In the high-cost milieu and heavy and unseasonal monsoon, Orient’s performance was much better than its peers, although its EBITDA/ PAT fell 14%/19% y/y (on a high base). While de-levering continues, the company has attractively financed the balance debt. Cost optimisation measures, a rake-handling system, the WHRS setup and solar power are positives.
Outlook
We retain our Buy rating, with a slightly lower target of Rs.233 (earlier Rs.240) on 7x FY24e EV/EBITDA.
More Info
At 17:30 Orient Cement was quoting at Rs 171.75, down Rs 1.15, or 0.67 percent.
It has touched an intraday high of Rs 173.90 and an intraday low of Rs 170.50.
It was trading with volumes of 50,143 shares, compared to its thirty day average of 60,739 shares, a decrease of -17.45 percent.
In the previous trading session, the share closed up 0.09 percent or Rs 0.15 at Rs 172.90.
The share touched its 52-week high Rs 185.50 and 52-week low Rs 87.50 on 08 November, 2021 and 12 February, 2021, respectively.
Currently, it is trading 7.39 percent below its 52-week high and 96.34 percent above its 52-week low.
Market capitalisation stands at Rs 3,518.62 crore.
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