Anand Rathi 's research report on Ramco Cements
The Covid’19-compelled lockdown from Mar’20 hurt Ramco’s Q4. Its revenue/EBITDA/PAT declined 9%/15%/12%. The Vishakhapatnam expansion was completed in Mar. Labour unavailability, however, delayed the remaining expansions by 3-5 months. With demand in the near term expected to be sluggish, we expect profitability to improve on steady pricing, lower fuel prices and new capacity commissioning.
Outlook
We maintain our Buy rating, with a higher target price of `748 (earlier `683).
For all recommendations report, click here
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