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Buy Sagar Cement; target of Rs 250: ICICI Direct

ICICI Direct is bullish on Sagar Cement recommended buy rating on the stock with a target price of Rs 250 in its research report dated March 28, 2023.

March 29, 2023 / 02:38 PM IST


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ICICI Direct's research report on Sagar Cement

Sagar Cements is a south based cement player with cement capacity of 10.1 MT (including Andhra Cements). Region wise, AP/Telangana accounted for ~60% of sales followed by Tamil Nadu (16%), Karnataka (9%). Going forward, the company will be able to develop a presence in the fastergrowing eastern market and the more profitable central market with the recent commissioning of the new 2.5 MT capacity • Captive power (61.5 MW) and grinding units near market give it cost advantage.


We upgrade the stock from HOLD to BUY owing to the recent price correction and maintain our previous target price. We value Sagar at Rs 250 i.e. 8x FY25E EV/EBITDA.

For all recommendations report, click here

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Sagar Cement - 29 -03 - 2023 -icici

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first published: Mar 29, 2023 02:35 pm