Buy Star Cement; target of Rs 115: Anand Rathi

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26 Aug, 2025 12:21

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Anand Rathi 's research report on Star Cement

With April a washout, Star’s Q1 revenue/EBITDA/PAT fell 37%/42/ 48%. On the Siligudi GU commissioning, operating costs would shrink. The EC for the Meghalaya clinker expansion continues to be delayed. Curtailed rural demand and floods in the company’s markets are negatives, but management expects rising non-trade demand and government spending (at elections) to boost institutional demand.

Outlook

We retain our Buy on the stock, with a target of `115 (earlier `122).

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